Unrestricted Commercial Land
For Sale
Contact for pricing
506 HWY 6 S, Houston, TX
Highway frontage and unrestricted land-use status support a range of commercial development concepts.
Property Size7,052 SF
Price / SF$204.91
Days on Market104
Property Features for 506 HWY 6 S
General Information
Standard status
Active
Size
7,052 SF
Class
C
Property subtype
Retail, Land, Special Purpose
Zoning
Unrestricted
Investment Type
Redevelopment
Building Details
Year Built
1985
Buildings
1
Stories
1
Units
1
Listing Agency:
Marcus & Millichap - Houston
Listed By:
Sebastian Davis · License #806053
Source:
Crexi
Added: Jul 5
Changed: Oct 13
Last Checked: Oct 16 at 7:02AM
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 Marcus & Millichap - Houston
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 0.79-acre commercial land parcel at 506 HWY 6 S offers direct frontage along Highway 6 in Houston. The property is described as unrestricted, with development subject to deed restrictions, City ordinances, and site-specific conditions rather than conventional use-based zoning. Potential concepts identified for the site include drive-through food service, medical or dental office, financial services, and retail or personal-service uses.
Highway 6 carries 76,000+ VPD, while the surrounding area includes a substantial corporate employment base and established retail destinations. The property is positioned near CityCentre, Memorial City Mall, grocery-anchored centers, and regional healthcare systems. The source information identifies 42,769 people within 1 mile during the daytime, reflecting nearby office and commercial activity.
Highway 6 carries 76,000+ VPD, while the surrounding area includes a substantial corporate employment base and established retail destinations. The property is positioned near CityCentre, Memorial City Mall, grocery-anchored centers, and regional healthcare systems. The source information identifies 42,769 people within 1 mile during the daytime, reflecting nearby office and commercial activity.
Key Highlights
- 0.79‑acre commercial land parcel
- Direct frontage on Highway 6
- 76,000+ VPD on Highway 6
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,530
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,170,600
$2.2M
Cap Rate 7%
$1,550,429
$1.6M
Cap Rate 9%
$1,205,889
$1.2M
Market Conditions
NOI Build-Up for 7,052 SF
Gross rent
$152.3K $21.60/SF
− Vacancy
−$7.6K −$1.08/SF
EGI
$144.7K $20.52/SF
− OpEx
−$36.2K −$5.13/SF
NOI
$108.5K $15.39/SF
Area
Houston, TX
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,170,600
Cap Rate 7%
$1,550,429
Cap Rate 9%
$1,205,889
Alternative Uses
Best Use
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,530 @ 7.0% cap · market cap 7.51%
Second Best
Healthcare Medical
$1.37M
$1.20M – $1.60M
NOI $95,964 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,936 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,792
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Houston, TX
Frequently Asked Questions
What type of property is this?
Commercial land - Highway frontage and unrestricted land-use status support a range of commercial development concepts.
Where is this commercial land located?
The property is located at 506 HWY 6 S Houston, TX.
What is the asking price?
The asking price for this property is $1,445,000.
What are key features of this property?
This property features: 0.79‑acre commercial land parcel; Direct frontage on Highway 6; 76,000+ VPD on Highway 6
