West University Mixed-Use
For Sale
$899,000
Pending
5135 Edloe Street, Houston, TX 77005
Mixed-use building in prime location with redevelopment potential.
Property Size3,240 SF
Lot Size0.17 Acres
Days on Market158
Property Features for 5135 Edloe Street
General Information
Standard status
Pending
Size
3,240 SF
Lot size
0.17 Acres
Property subtype
Residential / Duplex
Taxes and HOA fees
Annual Taxes
$19,411
Amenities
Two
Central Air, Electric
Central, Gas
2
Carpet, Tile, Wood
Den, Entry Foyer, Family Room, Guest Quarters, Living Room, Office, Utility Room
Yes
4
Window Coverings
6
Crown Molding, Entrance Foyer, High Ceilings, Window Treatments, Ceiling Fans, Programmable Thermostat
Composition
Back Yard
No
1
Deck, Fully Fenced, Fence, Paved Driveway, Porch, Patio, Private Yard
Smoke Detectors
Slab
Brick
Deck, Patio, Porch
Building Details
Year Built
1950
Listing Agency:
Compass RE Texas, LLC - Houston
(713) 446-3433
Listed By:
Mike Brombacher · License #0667032
(713) 446-3433
Source:
Compass
Added: Mar 27
Changed: Aug 25
Last Checked: Aug 24 at 12:15PM
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 Compass RE Texas, LLC - Houston
Investment Insights
Based on property information with market context.
This property features a 3,250 square foot building on a 7,500 square foot lot in the West University area. The mixed-use building includes a professional office on the first floor, currently an audiology practice, and two residential units upstairs, suitable for rental income or live-work arrangements. The property has a current Houston Sign Permit and Certificate of Occupancy. Redevelopment potential exists, with possibilities for a condo, office, or apartment project, subject to buyer verification. The property includes a two-car garage and potential parking for 8 to 10 spaces, including one handicap spot. The location offers visibility and is positioned between Greenway Plaza, the Galleria, Rice University, and the Texas Medical Center, with access to Highway 59 and I-610.
Key Highlights
- Prime West University location (77005) near Greenway Plaza, Galleria, Rice University, and TMC with easy access to Hwy 59 and I‑610.
- Versatile mixed‑use building with professional office space and two residential units, offering rental income or live/work options.
- Significant redevelopment potential on a 7,500 SF lot, suitable for condo, office, or apartment project (buyer to verify).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,768
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$855,360
$855.4K
Cap Rate 7%
$610,971
$611.0K
Cap Rate 9%
$475,200
$475.2K
Market Conditions
NOI Build-Up for 3,240 SF
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.
Gross rent
$77.8K $24.00/SF
− Vacancy
−$9.3K −$2.88/SF
EGI
$68.4K $21.12/SF
− OpEx
−$25.7K −$7.92/SF
NOI
$42.8K $13.20/SF
Area
Houston, TX
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$855,360
Cap Rate 7%
$610,971
Cap Rate 9%
$475,200
Alternative Uses
Best Use
Mixed Use
$611.0K
$534.6K – $712.8K
NOI $42,768 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$833.1K
$729.0K – $972.0K
NOI $58,320 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,114
Businesses Nearby
Explore this area
Business Placement
Demographics for 77005, TX
28,241
Population
10,564
Households
2.7
Avg Household Size
36
Median Age
88%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
7,432
Density / Sq Mi
$215,708
Median Household Income
$100,839
Median Earnings
$2,058
Median Rent
$1,354,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building in prime location with redevelopment potential.
Where is this mixed-use property located?
The property is located at 5135 Edloe Street Houston, TX.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Prime West University location (77005) near Greenway Plaza, Galleria, Rice University, and TMC with easy access to Hwy 59 and I‑610.; Versatile mixed‑use building with professional office space and two residential units, offering rental income or live/work options.; Significant redevelopment potential on a 7,500 SF lot, suitable for condo, office, or apartment project (buyer to verify).
