Multi-Tenant Retail
For Sale
$2,750,000
5407 Louetta Rd, Spring, TX 77379
Retail strip center with 58% occupancy and an included 1-acre pad site.
Property Size17,500 SF
Price / SF$157.14
Days on Market126
Property Features for 5407 Louetta Rd
General Information
Standard status
Active
Size
17,500 SF
Property subtype
Shopping Strip
Occupancy
58%
Additional Details
Cap Rate
10.4%
Traffic Count
41,000 vehicles/day
Amenities
Value-Add Retail Center | 17,500 SF
Lease-Up Opportunity | 58% Occupancy
1 Acre Pad Site | $350K Stabilized NOI | 12.72% Pro Forma Cap
3 Mile Radius | Population - 110,227 | AHHI - $122,032
Building Details
Building Size
17,500 SF
Year Built
2005
Tenancy
Multi
Listed By:
Christian Scott · License #License(s): TX: 842990
(713) 452-4379
Source:
Marcusmillichap
Added: Jun 16
Changed: Oct 15
Last Checked: Oct 19 at 3:21AM
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 Christian Scott
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Investment Insights
Based on property information with market context.
The subject property is a 17,500-square-foot, multi-tenant retail center in Spring, Texas. The center is currently 58% occupied, offering a lease-up opportunity, and the offering includes a 1-acre pad site with additional development potential.
The property is positioned along a corridor carrying approximately 41,000 vehicles per day in the northwest Houston submarket. The trade area is supported by area income and employment fundamentals, with daytime population within five miles totaling 260,399 and 152,342 area employees across healthcare, engineering, and professional services. Houston Northwest Medical Center, the submarket’s largest single employer at 1,600 employees, is located within the trade area.
The provided pro forma projects stabilized NOI of $350,000 at a 10.4% cap rate.
The property is positioned along a corridor carrying approximately 41,000 vehicles per day in the northwest Houston submarket. The trade area is supported by area income and employment fundamentals, with daytime population within five miles totaling 260,399 and 152,342 area employees across healthcare, engineering, and professional services. Houston Northwest Medical Center, the submarket’s largest single employer at 1,600 employees, is located within the trade area.
The provided pro forma projects stabilized NOI of $350,000 at a 10.4% cap rate.
Key Highlights
- 17,500 SF multi‑tenant retail center built in 2005 in Spring, TX
- Currently 58% occupied, offering additional leasing upside based on the stated 58% occupancy level
- Includes a 1‑acre pad site with additional development potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$207,932
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,158,640
$4.2M
Cap Rate 7%
$2,970,457
$3.0M
Cap Rate 9%
$2,310,356
$2.3M
Market Conditions
NOI Build-Up for 17,500 SF
Gross rent
$315.0K $18.00/SF
− Vacancy
−$18.0K −$1.03/SF
EGI
$297.0K $16.97/SF
− OpEx
−$89.1K −$5.09/SF
NOI
$207.9K $11.88/SF
Area
Harris County, TX
Vacancy
5.70%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,158,640
Cap Rate 7%
$2,970,457
Cap Rate 9%
$2,310,356
Alternative Uses
Best Use
Retail
$2.97M
$2.60M – $3.47M
NOI $207,932 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.78M
$4.18M – $5.57M
NOI $334,488 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
41,000 VPD
Traffic count
58%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
44k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Dining 10%
Circle K
Shops & Services
23,420 visits/mo
0.3 miles
Quick Quack Car Wash
Shops & Services
6,755 visits/mo
0.1 miles
Chevron
Shops & Services
4,574 visits/mo
0.1 miles
Dunkin' Donuts
Dining
4,555 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
3,210 visits/mo
0.4 miles
Demographics for 77379, TX
84,704
Population
30,004
Households
2.8
Avg Household Size
38
Median Age
49%
College-Educated
95%
High-School Grad
25.8 sq mi
ZIP Area
3,283
Density / Sq Mi
$110,712
Median Household Income
$58,474
Median Earnings
$1,618
Median Rent
$335,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip center with 58% occupancy and an included 1-acre pad site.
Where is this strip mall located?
The property is located at 5407 Louetta Rd Spring, TX.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 17,500 SF multi‑tenant retail center built in 2005 in Spring, TX; Currently 58% occupied, offering additional leasing upside based on the stated 58% occupancy level; Includes a 1‑acre pad site with additional development potential
