Multifamily Property With Metal
For Sale
$1,800,000
511 Gulf Bank Road # 5, Houston, TX 77037
Multiple detached dwellings accompany a separate metal shop on the property.
Lot Size4.52 Acres
Days on Market397
Property Features for 511 Gulf Bank Road # 5
General Information
Standard status
Active
Lot size
4.52 Acres
Property subtype
Multi Family,Multiple Detached Dwellings
Additional Details
Land Use
commercial, multi-family
Building Details
Building Size
5,800 SF
Year Built
1960
Listing Agency:
CB&A, Realtors
(832) 642-7246
Listed By:
Rafael Perez · License #0573024
(832) 642-7246
Source:
Nancyalmodovar
Added: Jun 30, 2025
Changed: Jul 31
Last Checked: Jul 31 at 12:27PM
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 CB&A, Realtors
Investment Insights
Based on property information with market context.
This multifamily property includes multiple detached dwellings and a separate metal shop providing over 6,000 square feet of space. The improvements were built in 1960 and are situated across two lots measuring 196,590 square feet, or over 4.5 acres in total.
Located at 511 Gulf Bank Road in Houston, the property combines residential improvements with a substantial on-site shop and expansive land area. The existing layout includes multiple detached dwellings, while the shop adds a distinct commercial-style improvement to the property.
Located at 511 Gulf Bank Road in Houston, the property combines residential improvements with a substantial on-site shop and expansive land area. The existing layout includes multiple detached dwellings, while the shop adds a distinct commercial-style improvement to the property.
Key Highlights
- Multiple detached dwellings on the property
- Metal shop with over 6,000 square feet of space
- Two lots measuring 196,590 square feet
Financial Insights For Apartment 5plus
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 | $127.4k | $21.96 |
| − Vacancy | −$7.9k | −$1.36 |
| EGI | $119.5k | $20.60 |
| − OpEx | −$53.8k | −$9.27 |
| NOI | $65.7k | $11.33 |
5,800 SF · lease $21.96/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$938.7K
$821.4K – $1.10M
NOI $65,709 @ 7.0% cap · market cap 3.65%
Second Best
Industrial
$467.2K
$408.8K – $545.1K
NOI $32,703 @ 7.0% cap · market cap 1.82%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,400 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Explore this area
Business Placement
Demographics for 77037, TX
19,569
Population
5,312
Households
3.7
Avg Household Size
31
Median Age
7%
College-Educated
51%
High-School Grad
6.2 sq mi
ZIP Area
3,156
Density / Sq Mi
$46,176
Median Household Income
$30,779
Median Earnings
$1,056
Median Rent
$160,500
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multiple detached dwellings accompany a separate metal shop on the property.
Where is this multifamily property located?
The property is located at 511 Gulf Bank Road # 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: Multiple detached dwellings on the property; Metal shop with over 6,000 square feet of space; Two lots measuring 196,590 square feet
