Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Center in Deer Park Title is generated by Realmo AI

    4902-5034 Luella Avenue, Deer Park, TX 77536

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $19 SF/Yr

    Well-located shopping center surrounded by commercial and residential development.

    Type:Retail
    Added:
    Mar 6, 2026
    Days on Market:
    74
    Last Refresh:
    Apr 6 at 1:23 am

    Property Features for 4902-5034 Luella Avenue

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1972

    Spaces For Lease

    at 4902-5034 Luella Avenue Contact us

    We can help!

    Listing Contact
    Jason C. Kieschnick
    Jason C. Kieschnick

    Listing agent Jason C. Kieschnick License #TX #512911

    Listing office Zann Commercial Brokerage

    Listing date Mar 6, 2026

    Source Zann

    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 Zann Commercial Brokerage

    HighLights

    • Well‑located shopping center in the heart of Deer Park.
    • Surrounded by heavy commercial development.
    • Surrounded by heavy residential development.
    • Close proximity to San Jacinto College.
    • Located near the NEC of Spencer Highway and Luella Avenue.

    Overview

    The Luella Retail Center is a shopping center situated in Deer Park, near the NEC of Spencer Highway and Luella Avenue. The location is surrounded by commercial and residential development and is in close proximity to San Jacinto College. The property is available for lease.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Deer Park
    County
    Harris
    State
    Texas
    Longitude
    -95.1132
    Latitude
    29.6647

    Nearby Similar for Lease

    • $9,000/Mo

      Professional Office Suite For Lease

      Turnkey office space with high visibility and included utilities.
      2106 Center St, Deer Park, TX 77536
      View Details
    • Contact for pricing
      78,000 SF

      Modern Office Building in Deer Park

      Two-story, 78,000 RSF office building with modern design.
      4440 SH 225 Deer, Park, TX 77536
      View Details
    • Contact for pricing
      102,000 SF

      Office Space on Highway 225

      Office space available for rent in Deer Park, Texas.
      4460 Highway 225 Deer, Park, TX 77536
      View Details
    • $19 SF/Yr
      2,000 SF

      Retail Space in Deer Park

      Retail space available for lease in Deer Park, TX.
      4902-5034 Luella Ave, Deer Park, TX
      View Details
    • Contact for pricing

      Industrial Space for Sublease

      Industrial space available for sublease in the East-Southeast Far Submarket.
      2830 E Pasadena Blvd, Deer Park, TX 77536
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Deer Park

      Retail space available for lease in Deer Park, Texas.
      4307 Red Bluff Rd, Deer Park, TX
      View Details
    • $12 SF/Yr
      1,500 SF

      Retail Space in Deer Park

      Retail space available for lease in Deer Park, Texas.
      1901 Battleground Rd, Deer Park, TX
      View Details
    • Contact for pricing
      11,200 SF

      Retail Space Near H-E-B

      Retail space available in new building near major retailers.
      4701 East Boulevard, Deer Park, TX
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail property available for lease.
      NEC Spencer Hwy & East Blvd, Deer Park, TX 77536
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Deer Park, Texas.
      Nwc Spencer Hwy & East Blvd, Deer Park, TX 77536
      View Details

    FAQs

    What type of property is this?
    Shopping center - Well-located shopping center surrounded by commercial and residential development.
    Where is this shopping center located?
    The property is located at 4902-5034 Luella Avenue Deer Park, TX.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: Well‑located shopping center in the heart of Deer Park.; Surrounded by heavy commercial development.; Surrounded by heavy residential development.
    (832) 915-1827
    We can help!
    Listing Contact
    Jason C. Kieschnick
    Jason C. Kieschnick
    Real Estate License ID: TX #512911
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4902-5034 Luella Avenue, Deer Park, TX 77536
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!