Strip Mall Anchored by Papa
New
For Sale
$899,000
4004 Broadway St, Houston, TX 77087
Retail strip mall is fully occupied and anchored by Papa John’s with direct Broadway Street visibility.
Property Size4,386 SF
Lot Size0.30 Acres
Price / SF$204.97
Days on Market2
Property Features for 4004 Broadway St
General Information
Standard status
Active
Size
4,386 SF
Lot size
0.30 Acres
Property subtype
Shopping Strip
Occupancy
100%
Financials
Asking Price
$899,000
Cap Rate
6.55%
Site & Location
Anchor Co-Tenants
Papa John’s
Traffic Count
254,000 vehicles/day
Amenities
Located Near William P. Hobby Airport
Freeway Visibility Along Gulf Freeway: 254,444 VPD
100 Percent Occupied
Short-Term Leases With Below Market Base Rents
Long-Term National Tenant: Papa John's Since 2012
Majority of Expenses Reimbursed by Tenants
6.55 Percent Cap Rate
Building Details
Building Size
4,386 SF
Year Built
2000
Tenancy
Multi
Listing Agency:
Houston Office
(713) 452-4257
Listed By:
Gus Lagos · License #License(s): TX: 419197
(713) 452-4257
Source:
Marcusmillichap
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 7:03AM
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 Houston Office
Investment Insights
Based on property information with market context.
This retail strip mall totals 4,386 square feet on a 0.30-acre tract fronting Broadway Street and built in 2000. The center has direct visibility to Gulf Freeway and is 100% occupied by an established mix of national and local tenants, anchored by Papa John’s, which has occupied its space since 2012. Most tenants reimburse the landlord for their share of operating expenses.
The property’s location provides visibility on a heavily traveled corridor. Gulf Freeway carries more than 254,000 vehicles per day, supporting strong day-to-day exposure for retail and service uses serving nearby drivers and travelers.
Offered for sale at a 6.55 percent cap rate, 4004 Broadway also benefits from proximity to William P. Hobby Airport, an important southeast Houston economic driver. The surrounding corridor has seen public-street improvements, including sidewalks, bus shelters, and LED street lighting, enhancing the streetscape and pedestrian mobility along Broadway.
The property’s location provides visibility on a heavily traveled corridor. Gulf Freeway carries more than 254,000 vehicles per day, supporting strong day-to-day exposure for retail and service uses serving nearby drivers and travelers.
Offered for sale at a 6.55 percent cap rate, 4004 Broadway also benefits from proximity to William P. Hobby Airport, an important southeast Houston economic driver. The surrounding corridor has seen public-street improvements, including sidewalks, bus shelters, and LED street lighting, enhancing the streetscape and pedestrian mobility along Broadway.
Key Highlights
- 4,386‑square‑foot retail strip mall on a 0.30‑acre tract fronting Broadway Street
- Direct visibility to Gulf Freeway with more than 254,000 vehicles per day
- 100% occupied retail center with national and local tenants
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.0k | $20.52 |
| − Vacancy | −$5.0k | −$1.15 |
| EGI | $85.0k | $19.37 |
| − OpEx | −$25.5k | −$5.81 |
| NOI | $59.5k | $13.56 |
4,386 SF · lease $20.52/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$849.6K
$743.4K – $991.2K
NOI $59,472 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$986.9K – $1.32M
NOI $78,948 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
254,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 77087, TX
34,654
Population
12,400
Households
2.8
Avg Household Size
35
Median Age
12%
College-Educated
63%
High-School Grad
6.6 sq mi
ZIP Area
5,251
Density / Sq Mi
$53,624
Median Household Income
$32,927
Median Earnings
$1,015
Median Rent
$148,400
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip mall is fully occupied and anchored by Papa John’s with direct Broadway Street visibility.
Where is this strip mall located?
The property is located at 4004 Broadway St Houston, TX.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 4,386‑square‑foot retail strip mall on a 0.30‑acre tract fronting Broadway Street; Direct visibility to Gulf Freeway with more than 254,000 vehicles per day; 100% occupied retail center with national and local tenants
