Prime Shepherd Drive Retail
For Sale
Contact for pricing
3619 S Shepherd Dr, Houston, TX 77098
6,000 SF retail space on highly desired Shepherd Drive.
Property Size6,000 SF
Price / SF$416.67
Days on Market956
Property Features for 3619 S Shepherd Dr
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Land
Building Details
Buildings
1
Stories
1
Listing Agency:
NewQuest Properties
Listed By:
Glenn Dickerson · License #TX
(281) 477-4384
Source:
Crexi
Added: Mar 7, 2024
Changed: Oct 19
Last Checked: Oct 19 at 4:49AM
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 NewQuest Properties
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Investment Insights
Based on property information with market context.
Located on Shepherd Drive, this 6,000 SF property currently houses the Rockin’ Robin Music Store and is available for the first time in 40 years. The business and its inventory are also available for purchase. The property's location offers excellent visibility and accessibility, with close proximity to Hwy 59, River Oaks, The Galleria, Highland Village, and Montrose. High-end retail, restaurants, and museums are nearby, making this location an attractive investment opportunity for an owner/user or developer.
Key Highlights
- Highly desirable Shepherd Drive location.
- Excellent visibility and accessibility due to proximity to Hwy 59, River Oaks, The Galleria, Highland Village and Montrose.
- Attractive investment opportunity for owner/user or developer.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,358
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,627,160
$1.6M
Cap Rate 7%
$1,162,257
$1.2M
Cap Rate 9%
$903,978
$904.0K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$123.1K $20.52/SF
− Vacancy
−$6.9K −$1.15/SF
EGI
$116.2K $19.37/SF
− OpEx
−$34.9K −$5.81/SF
NOI
$81.4K $13.56/SF
Area
Houston, TX
Vacancy
5.60%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,627,160
Cap Rate 7%
$1,162,257
Cap Rate 9%
$903,978
Alternative Uses
Best Use
Retail
$1.16M
$1.02M – $1.36M
NOI $81,358 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,000 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,694
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77098, TX
15,717
Population
10,181
Households
1.5
Avg Household Size
36
Median Age
81%
College-Educated
99%
High-School Grad
1.8 sq mi
ZIP Area
8,732
Density / Sq Mi
$115,867
Median Household Income
$83,401
Median Earnings
$1,854
Median Rent
$777,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Houston, TX
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Frequently Asked Questions
What type of property is this?
Storefront property - 6,000 SF retail space on highly desired Shepherd Drive.
Where is this storefront property located?
The property is located at 3619 S Shepherd Dr Houston, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Highly desirable Shepherd Drive location.; Excellent visibility and accessibility due to proximity to Hwy 59, River Oaks, The Galleria, Highland Village and Montrose.; Attractive investment opportunity for owner/user or developer.
