Peek Plaza I Shopping
For Sale
Contact for pricing
3325 W Grand Pkwy N, Katy, TX 77449
Completed in 2023, the property offers retail space in Katy, Texas.
Property Size10,008 SF
Price / SF$479.62
Days on Market132
Property Features for 3325 W Grand Pkwy N
General Information
Standard status
Active
Size
10,008 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$335,770
Additional Details
Cap Rate
7%
Building Details
Year Built
2023
Buildings
1
Stories
1
Units
6
Tenancy
Multi
Listing Agency:
STRIVE Commercial Real Estate Advisors
Listed By:
Jake Dutson · License #702071-SA
Source:
Crexi
Added: Apr 21
Changed: Aug 29
Last Checked: Aug 29 at 1:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of STRIVE Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
Peek Plaza I is a 10,008-square-foot shopping center completed in 2023. The property is identified as retail space and carries a 7.00% CAP.
The asset is located at 3325 W Grand Pkwy N in Katy, Texas 77449.
The asset is located at 3325 W Grand Pkwy N in Katy, Texas 77449.
Key Highlights
- 10,008‑square‑foot shopping center
- Completed in 2023
- 7.00% CAP
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$135,561
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,711,220
$2.7M
Cap Rate 7%
$1,936,586
$1.9M
Cap Rate 9%
$1,506,233
$1.5M
Market Conditions
NOI Build-Up for 10,008 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$205.4K $20.52/SF
− Vacancy
−$11.7K −$1.17/SF
EGI
$193.7K $19.35/SF
− OpEx
−$58.1K −$5.81/SF
NOI
$135.6K $13.55/SF
Area
Fort Bend County, TX
Vacancy
5.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,711,220
Cap Rate 7%
$1,936,586
Cap Rate 9%
$1,506,233
Alternative Uses
Best Use
Retail
$1.94M
$1.69M – $2.26M
NOI $135,561 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$124.68M
$109.09M – $145.45M
NOI $8,727,265 @ 7.0% cap · market cap 181.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77449, TX
128,180
Population
40,773
Households
3.1
Avg Household Size
32
Median Age
28%
College-Educated
86%
High-School Grad
27.0 sq mi
ZIP Area
4,747
Density / Sq Mi
$85,934
Median Household Income
$42,015
Median Earnings
$1,755
Median Rent
$236,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Completed in 2023, the property offers retail space in Katy, Texas.
Where is this shopping center located?
The property is located at 3325 W Grand Pkwy N Katy, TX.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 10,008‑square‑foot shopping center; Completed in 2023; 7.00% CAP
