Mixed-Use Property with Retail
For Sale
$1,100,000
613 615 & 617 N Highway 75, Willis, TX 77378
Retail buildings and four residential improvements create a multi-component property with existing leases across the site.
Property Size7,765 SF
Lot Size1.87 Acres
Price / SF$141.66
Days on Market266
Property Features for 613 615 & 617 N Highway 75
General Information
Standard status
Active
Size
7,765 SF
Lot size
1.87 Acres
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,395
Amenities
Yes
Washer Hookup,Dryer Hookup
Appraiser
Cleared
81631
Survey
7765
Building Details
Building Size
7,765 SF
Year Built
1961
Stories
1
Tenancy
Multi
Listing Agency:
eXp Realty LLC
(936) 856-5590
Listed By:
Sarah Conway · License #0508528
(936) 494-9999
Source:
Garygreene
Added: Jan 23
Changed: Oct 15
Last Checked: Oct 16 at 7:17AM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
This mixed-use property combines retail frontage buildings with four residential improvements on 1.87 acres. The residential component includes a house, three mobile homes, and one additional small home, while the retail structures face N Highway 75. The property totals 7,765 square feet and was built in 1961.
Located in Willis along Highway 75, the site is near I-45 and Conroe. All residential homes are currently leased, providing an existing occupancy component alongside the retail improvements. The address includes 613, 615 & 617 N Highway 75.
Located in Willis along Highway 75, the site is near I-45 and Conroe. All residential homes are currently leased, providing an existing occupancy component alongside the retail improvements. The address includes 613, 615 & 617 N Highway 75.
Key Highlights
- 1.87‑acre mixed‑use property in Willis
- 7,765 square feet of total property size
- Retail frontage buildings positioned along Highway 75
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,587
Cap Rate
7.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,631,740
$1.6M
Cap Rate 7%
$1,165,529
$1.2M
Cap Rate 9%
$906,522
$906.5K
Market Conditions
NOI Build-Up for 7,765 SF
Gross rent
$157.5K $20.28/SF
− Vacancy
−$9.1K −$1.18/SF
EGI
$148.3K $19.10/SF
− OpEx
−$66.8K −$8.60/SF
NOI
$81.6K $10.51/SF
Area
Montgomery County, TX
Vacancy
5.80%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,631,740
Cap Rate 7%
$1,165,529
Cap Rate 9%
$906,522
Alternative Uses
Best Use
Retail
$1.50M
$1.32M – $1.75M
NOI $105,290 @ 7.0% cap · market cap 9.57%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,587 @ 7.0% cap · market cap 7.42%
Theoretical Best
Specialty Retail
$1.96M
$1.72M – $2.29M
NOI $137,221 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 77378, TX
17,417
Population
6,503
Households
2.7
Avg Household Size
35
Median Age
18%
College-Educated
81%
High-School Grad
89.1 sq mi
ZIP Area
195
Density / Sq Mi
$68,595
Median Household Income
$38,221
Median Earnings
$1,408
Median Rent
$177,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail buildings and four residential improvements create a multi-component property with existing leases across the site.
Where is this mixed-use property located?
The property is located at 613 615 & 617 N Highway 75 Willis, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 1.87‑acre mixed‑use property in Willis; 7,765 square feet of total property size; Retail frontage buildings positioned along Highway 75
