Multi-Tenant Retail
5407 Louetta Rd Spring, TX 77379
5407 Louetta Rd, Spring, TX, 77379
$3,370,000
For Sale
$3,370,000
Retail strip center with 58% occupancy and an included 1-acre pad site.
Property Size17,500 SF
Price / SF$192.57
Days on Market36
Property Features for 5407 Louetta Rd
General Information
- Standard status
- Active
- Size
- 17,500 SF
- Property subtype
- Shopping Strip
Building Details
- Year Built
- 2005
Listing agency
Houston Office
(713) 452-4379
Listed by
Christian Scott · License #License(s): TX: 842990
(713) 452-4379
Source
Marcusmillichap
Added: Jun 16 Updated: Jul 20 at 9:06PM Checked: Jul 21 at 3:08AM
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 Houston Office
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
Local Financial Insights For Retail
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 | $359.1k | $20.52 |
| − Vacancy | −$20.1k | −$1.15 |
| EGI | $339.0k | $19.37 |
| − OpEx | −$101.7k | −$5.81 |
| NOI | $237.3k | $13.56 |
17,500 SF · lease $20.52/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.39M
$2.97M – $3.95M
NOI $237,293 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.42M
$3.87M – $5.15M
NOI $309,254 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Smoothie Factory
Specialty Food Shop
Nutrition Depot Louetta ...
(Bike/Boat/Book/etc) Store
My Guns Depot
Gun Shop
Los Generales
Restaurant
Buzzles Shaved Ice
Grocery & Convenience Store
Similar For Sale Nearby
FAQs
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 $3,370,000.
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
