Anchored Neighborhood Shopping
For Sale
$5,547,490
5402-5404 Broadway St, Pearland, TX 77581
Signalized-corner center with multiple access points and cross-access to neighboring retail.
Property Size23,500 SF
Price / SF$236.06
Days on Market65
Property Features for 5402-5404 Broadway St
General Information
Standard status
Active
Size
23,500 SF
Class
A
Property subtype
SCR
Zoning
No
Site & Location
Corner Location
Yes
Anchor Co-Tenants
Dollar Tree
Road Access
Yes
Building Details
Building Size
23,500 SF
Year Built
2005
Buildings
1
Stories
1
Units
13
Tenancy
Multi
Listing Agency:
Alison Commercial Group @ KW Commercial Signature
Listed By:
Imtiaz Ali · License #0728721
(281) 599-7600
Source:
Realnex
Added: Jul 21
Changed: Sep 22
Last Checked: Sep 22 at 1:44PM
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 Alison Commercial Group @ KW Commercial Signature
Investment Insights
Based on property information with market context.
Corrigan Plaza is a 23,500 SF neighborhood shopping center built in 2005 and anchored by Dollar Tree. The property occupies the signalized intersection of Broadway Street and Corrigan Drive, with multiple entry points serving the center and cross-access to adjacent retail properties.
The center is in downtown Pearland, approximately 1 mile from the Highway 35/FM 518 intersection. Its corner position, established anchor, and connection to neighboring retail create a clearly defined commercial setting for the property.
The center is in downtown Pearland, approximately 1 mile from the Highway 35/FM 518 intersection. Its corner position, established anchor, and connection to neighboring retail create a clearly defined commercial setting for the property.
Key Highlights
- 23,500 SF neighborhood shopping center
- Anchored by Dollar Tree
- Signalized intersection of Broadway Street and Corrigan Drive
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
$262,929
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
4.74%
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%
$5,258,580
$5.3M
Cap Rate 7%
$3,756,129
$3.8M
Cap Rate 9%
$2,921,433
$2.9M
Market Conditions
NOI Build-Up for 23,500 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
$400.4K $17.04/SF
− Vacancy
−$24.8K −$1.06/SF
EGI
$375.6K $15.98/SF
− OpEx
−$112.7K −$4.80/SF
NOI
$262.9K $11.19/SF
Area
Pearland, TX
Vacancy
6.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$5,258,580
Cap Rate 7%
$3,756,129
Cap Rate 9%
$2,921,433
Alternative Uses
Best Use
Retail
$3.76M
$3.29M – $4.38M
NOI $262,929 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.59M
$4.02M – $5.36M
NOI $321,498 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
39k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 19%
Leisure 12%
Dollar Tree
Shops & Services
24,807 visits/mo
0.0 miles
Little Caesars Pizza
Dining
4,749 visits/mo
0.1 miles
Knights Of Columbus
Leisure
4,688 visits/mo
0.5 miles
Napa Auto Parts
Shops & Services
1,480 visits/mo
0.3 miles
SUBWAY
Dining
1,266 visits/mo
0.1 miles
Demographics for 77581, TX
49,198
Population
18,285
Households
2.7
Avg Household Size
38
Median Age
36%
College-Educated
94%
High-School Grad
24.6 sq mi
ZIP Area
2,000
Density / Sq Mi
$106,556
Median Household Income
$62,887
Median Earnings
$1,591
Median Rent
$309,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Shopping center - Signalized-corner center with multiple access points and cross-access to neighboring retail.
Where is this shopping center located?
The property is located at 5402-5404 Broadway St Pearland, TX.
What is the asking price?
The asking price for this property is $5,547,490.
What are key features of this property?
This property features: 23,500 SF neighborhood shopping center; Anchored by Dollar Tree; Signalized intersection of Broadway Street and Corrigan Drive
