Two-Property Retail Strip Mall
For Sale
Contact for pricing
5822 Martin Luther King Blvd, Houston, TX 77021
The properties occupy a central Houston corridor connecting Downtown with Inner Loop 610.
Property Size12,100 SF
Price / SF$181.82
Days on Market206
Property Features for 5822 Martin Luther King Blvd
General Information
Standard status
Active
Size
12,100 SF
Class
B
Property subtype
Retail
Occupancy
100%
Lease Type
Gross
Net Operating Income
$170,000
Building Details
Units
2
Tenancy
Multi
Listing Agency:
5th Stream Realty
Listed By:
Helen Nguyen · License #739152
(832) 228-4001
Source:
Crexi
Added: Mar 25
Changed: Oct 4
Last Checked: Oct 14 at 11:00PM
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 5th Stream Realty
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Investment Insights
Based on property information with market context.
This offering combines two retail strip centers along Martin Luther King Boulevard in Houston. The properties are presented together as a single retail portfolio serving a dense residential trade area. Their configuration provides multiple commercial storefronts across two separate centers, with the asset positioned along an established urban thoroughfare.
The corridor connects Downtown Houston with Inner Loop 610 and serves commuter and neighborhood traffic. The properties are located at 5822 and 5842 Martin Luther King Boulevard, placing the portfolio within a central Houston commercial setting.
The corridor connects Downtown Houston with Inner Loop 610 and serves commuter and neighborhood traffic. The properties are located at 5822 and 5842 Martin Luther King Boulevard, placing the portfolio within a central Houston commercial setting.
Key Highlights
- Two retail strip centers offered together as one portfolio
- Located along Martin Luther King Boulevard in Houston
- Corridor connects Downtown Houston with Inner Loop 610
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,071
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,281,420
$3.3M
Cap Rate 7%
$2,343,871
$2.3M
Cap Rate 9%
$1,823,011
$1.8M
Market Conditions
NOI Build-Up for 12,100 SF
Gross rent
$248.3K $20.52/SF
− Vacancy
−$13.9K −$1.15/SF
EGI
$234.4K $19.37/SF
− OpEx
−$70.3K −$5.81/SF
NOI
$164.1K $13.56/SF
Area
Houston, TX
Vacancy
5.60%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,281,420
Cap Rate 7%
$2,343,871
Cap Rate 9%
$1,823,011
Alternative Uses
Best Use
Retail
$2.34M
$2.05M – $2.73M
NOI $164,071 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,800 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
822
Businesses Nearby
Explore this area
Business Placement
Demographics for 77021, TX
28,055
Population
12,819
Households
2.2
Avg Household Size
36
Median Age
34%
College-Educated
87%
High-School Grad
6.1 sq mi
ZIP Area
4,599
Density / Sq Mi
$45,034
Median Household Income
$38,041
Median Earnings
$1,193
Median Rent
$203,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Houston, TX
Frequently Asked Questions
What type of property is this?
Strip mall - The properties occupy a central Houston corridor connecting Downtown with Inner Loop 610.
Where is this strip mall located?
The property is located at 5822 Martin Luther King Blvd Houston, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two retail strip centers offered together as one portfolio; Located along Martin Luther King Boulevard in Houston; Corridor connects Downtown Houston with Inner Loop 610
