Commercial Property on Gulf
511 Gulf Bank Rd 5 Houston, TX 77037
511 Gulf Bank Rd 5, Houston, TX, 77037
$1,800,000
For Sale
$1,800,000
4.5-acre commercial property with existing structures and expansion potential.
Property Size6,000 SF
Lot Size4.51 Acres
Price / SF$300
Days on Market117
Property Features for 511 Gulf Bank Rd 5
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Lot size
- 4.51 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1960
Listing Agency
(832) 642-7246
Listed by
Rafael Perez · License #0573024
(832) 642-7246
Source
Elliman
Added: Mar 24 Checked: Jul 17 at 5:16 am
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 Rafael Perez
Investment Insights
Based on property information with market context.
This commercial property, located at 511 Gulf Bank, presents an opportunity for investors. The property spans over 4.5 acres and is suitable for developing a commercial building. It includes multiple detached dwellings and a metal shop, totaling over 6,000 square feet of space. This multi-family property offers room for growth. The property is situated on 2 lots measuring 196,590 square feet.
Key Highlights
- Prime location spanning over 4.5 acres, ideal for commercial development.
- Multi‑family property with existing tenants and expansion potential.
- Over 6,000 square feet of total space across multiple detached dwellings and a metal shop.
Local Financial Insights For Mixed Use
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 | $144.0k | $24.00 |
| − Vacancy | −$17.3k | −$2.88 |
| EGI | $126.7k | $21.12 |
| − OpEx | −$47.5k | −$7.92 |
| NOI | $79.2k | $13.20 |
6,000 SF · lease $24.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.13M
$990.0K – $1.32M
NOI $79,200 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,000 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Rodriguez Motors Co
Car Dealership
E&V's body shop
Auto Repair Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - 4.5-acre commercial property with existing structures and expansion potential.
Where is this commercial land located?
The property is located at 511 Gulf Bank Rd 5 Houston, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Prime location spanning over 4.5 acres, ideal for commercial development.; Multi‑family property with existing tenants and expansion potential.; Over 6,000 square feet of total space across multiple detached dwellings and a metal shop.
