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    Retail Center Shadow Anchored by Walmart Title is generated by Realmo AI

    6078 N Fry Rd, Katy, TX 77449

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    Retail center in Katy, TX, shadow-anchored by Walmart.

    Type:Retail, Office
    Property size:
    20,000 SF
    Added:
    Jun 15, 2022
    Days on Market:
    1453
    Last Refresh:
    May 12 at 9:51 pm

    Property Features for 6078 N Fry Rd

    General Information

    Standard status
    Active
    Size
    20,000 SF
    Property subtype
    Retail, Office

    Spaces For Lease

    at 6078 N Fry Rd Contact us

    We can help!

    Listing Contact
    Ronald Patrice
    Ronald Patrice

    Listing agent Ronald Patrice License #TX 780842

    Listing office KM Realty Advisors Houston

    Listing date Jun 15, 2022

    Source Crexi

    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 KM Realty Advisors Houston

    HighLights

    • Shadow‑anchored by a 24‑Hour Wal‑Mart Supercenter, ensuring consistent customer traffic.
    • Located at a high‑traffic, signalized intersection with excellent visibility (47,000+/- VPD).
    • Strong demographics with average household incomes estimated at $83,121 annually within a five‑mile radius.
    • Located in Katy, Texas, which was listed as the #1 hottest zip code in the nation in 2014 for growth.
    • Tenants pay for full NNN property expenses, including management fees.
    • Features two prominently located monument signs for enhanced visibility.

    Overview

    Shops on Fry is a 20,000 square foot retail center located at the southeast corner of N. Fry Road and W. Little York Road in Katy, Texas. Constructed in 2005, the property features visibility and traffic counts at a signalized intersection with approximately 47,000 vehicles per day. Two monument signs are located at the entrance and at the corner of the intersection. Tenants are responsible for all NNN property expenses, including a management fee. The majority of tenants have exercised their renewal options. The average household income within a five-mile radius is estimated at $83,121 annually. The population within a five-mile radius is estimated at 257,486 as of 2014. Katy is located along Highway 99 and the I-10 Energy Corridor, west of downtown Houston. In 2014, Katy was listed as the #1 hottest zip code in the nation in terms of combined job, population, and household growth. Katy has a nationally acclaimed school system. The Katy Area has emerged as one of Greater Houston's prime suburban areas based on its school district, residential neighborhoods, and access to major employers along the Energy Corridor. Katy's growth is fueled by a population which is growing five to six percent annually.
    Property Profile Location Intelligence

    Current Use by Public Records

    HEADLINE HAIRCUTS & DESIGNS ... Barber Shop Fashion Nails & Spa Nail Salon Millennium Cleaners (Bike/Boat/Book/etc) Store Hungen Plumbing Co. Hardware & Home Improvement Cafe Cuba Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Meadows Marketplace — 6725 S Fry Rd, Katy, TX 77494
    • Coinstar — 6711 S Fry Blvd, Katy, TX 77494
    • Peek Road Shopping Center — 6356 S Peek Rd, Katy, TX 77450
    • Grand Lakes — 5550 S Peek Rd, Katy, TX 77494
    • Coin Cloud Bitcoin ATM — 6037 s fry rd, katy, tx 77494

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.766183
    Latitude
    29.713711

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    FAQs

    What type of property is this?
    Shopping center - Retail center in Katy, TX, shadow-anchored by Walmart.
    Where is this shopping center located?
    The property is located at 6078 N Fry Rd Katy, TX.
    What are key features of this property?
    This property features: Shadow‑anchored by a 24‑Hour Wal‑Mart Supercenter, ensuring consistent customer traffic.; Located at a high‑traffic, signalized intersection with excellent visibility (47,000+/- VPD).; Strong demographics with average household incomes estimated at $83,121 annually within a five‑mile radius.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ronald Patrice
    Ronald Patrice
    Real Estate License ID: TX 780842
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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