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    Retail Development Land Parcel Title is generated by Realmo AI

    4429 Griggs Road, Houston, TX 77021

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    Prime retail land with adjacent neighborhood shopping anchors and convenient access to major Houston destinations.

    Type:Retail
    Added:
    Jun 1, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 3:16 am

    Property Features for 4429 Griggs Road

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 4429 Griggs Road Contact us

    We can help!

    Listing Contact
    ANITA AMIN
    ANITA AMIN

    Listing agent ANITA AMIN License #TX 687033

    Listing office The Blue Ox Group

    Listing date Jun 1, 2026

    Source Crexi

    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 The Blue Ox Group

    HighLights

    • Approximately 63,460 SF of retail land available for sale or ground lease at Griggs Rd and Cullen Blvd (Houston)
    • Site is in the northeast quadrant of Griggs Road and Cullen Blvd
    • Directly adjacent to a neighborhood shopping center anchored by Gordon Food Service, Family Dollar, and Citi‑Trends
    • Minutes from Highway 288, the University of Houston, and the Texas Medical Center
    • Urban population over 147,000 residents within a 3‑mile radius

    Overview

    This offering is a retail development land parcel of approximately 63,460 square feet, available for sale or ground lease. The site is presented as a blank-canvas opportunity for an operator or developer seeking to build a retail presence tailored to their specific concept.

    The property is located in the northeast quadrant of Griggs Road and Cullen Blvd in Houston. It sits directly adjacent to a neighborhood shopping center anchored by high-traffic national brands, including Gordon Food Service, Family Dollar, and Citi-Trends. The public remarks also note proximity to Highway 288, the University of Houston, and the Texas Medical Center, supported by robust daily traffic and an urban population of approximately 147,000 residents within a three-mile radius.

    For tenants, buyers, and developers, the parcel’s configuration and retail-focused setting can be well-suited to projects that benefit from strong neighborhood retail adjacency and straightforward access to surrounding employment and activity centers. Availability for ground lease provides flexibility for parties looking to secure land for a future buildout, while sale options accommodate longer-term ownership strategies.
    Location Intelligence

    Current Use by Public Records

    Amazon Locker - Voni Courier Service Griggs Road Shopping ... Shopping Center & Mall Houston Smile Center: ... Dental Office Houston Smile Center Dental Office Peoples Kruger DDS Dental Office

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.34875
    Latitude
    29.702352

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    FAQs

    What type of property is this?
    Commercial land - Prime retail land with adjacent neighborhood shopping anchors and convenient access to major Houston destinations.
    Where is this commercial land located?
    The property is located at 4429 Griggs Road Houston, TX.
    What are key features of this property?
    This property features: Approximately 63,460 SF of retail land available for sale or ground lease at Griggs Rd and Cullen Blvd (Houston); Site is in the northeast quadrant of Griggs Road and Cullen Blvd; Directly adjacent to a neighborhood shopping center anchored by Gordon Food Service, Family Dollar, and Citi‑Trends
    (713) 324-8954 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing ANITA AMIN
    ANITA AMIN
    Real Estate License ID: TX 687033
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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