El Muelle Seafood
For Sale
Contact for pricing
6501 Southwest Freeway, Houston, TX 77074
Restaurant property with an absolute NNN structure and scheduled 2% annual increases.
Property Size9,000 SF
Price / SF$534.33
Days on Market143
Property Features for 6501 Southwest Freeway
General Information
Standard status
Active
Size
9,000 SF
Class
A
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$324,605
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
6.75%
Building Details
Year Built
1979
Year Renovated
2025
Stories
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - San Diego
(858) 373-3184
Listed By:
Alvin Mansour · License #TX 0606255
Source:
Crexi
Added: Apr 10
Changed: Aug 30
Last Checked: Jul 8 at 4:07AM
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 Marcus & Millichap - San Diego
Investment Insights
Based on property information with market context.
El Muelle Seafood is a 9,000-square-foot conventional restaurant property at 6501 Southwest Fwy in Houston. The offering includes an absolute NNN ground lease with 2% annual increases, providing a defined lease structure for the asset.
The property sits along the Southwest Freeway, identified as US-59 and I-69, within Houston’s Gulfton and Sharpstown submarket. Hillcroft Avenue, Bellaire Boulevard, and the nearby Sam Houston Tollway, also known as Beltway 8, provide access to surrounding residential areas and Southwest Houston employment hubs. The trade area includes substantial multifamily housing, PlazAmericas Mall, and numerous neighborhood shopping centers. Hillcroft Avenue and Bellaire Boulevard are established international retail and dining corridors.
The property sits along the Southwest Freeway, identified as US-59 and I-69, within Houston’s Gulfton and Sharpstown submarket. Hillcroft Avenue, Bellaire Boulevard, and the nearby Sam Houston Tollway, also known as Beltway 8, provide access to surrounding residential areas and Southwest Houston employment hubs. The trade area includes substantial multifamily housing, PlazAmericas Mall, and numerous neighborhood shopping centers. Hillcroft Avenue and Bellaire Boulevard are established international retail and dining corridors.
Key Highlights
- 9,000‑square‑foot conventional restaurant property
- Absolute NNN ground lease with 2% annual increases
- Located along the Southwest Freeway at US‑59 / I‑69
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$138,510
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,770,200
$2.8M
Cap Rate 7%
$1,978,714
$2.0M
Cap Rate 9%
$1,539,000
$1.5M
Market Conditions
NOI Build-Up for 9,000 SF
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.
Gross rent
$194.4K $21.60/SF
− Vacancy
−$9.7K −$1.08/SF
EGI
$184.7K $20.52/SF
− OpEx
−$46.2K −$5.13/SF
NOI
$138.5K $15.39/SF
Area
Houston, TX
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,770,200
Cap Rate 7%
$1,978,714
Cap Rate 9%
$1,539,000
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,510 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.31M
$2.03M – $2.70M
NOI $162,000 @ 7.0% cap · market cap 3.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,929
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77074, TX
40,199
Population
15,154
Households
2.7
Avg Household Size
33
Median Age
20%
College-Educated
59%
High-School Grad
5.5 sq mi
ZIP Area
7,309
Density / Sq Mi
$47,408
Median Household Income
$28,688
Median Earnings
$1,066
Median Rent
$201,600
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with an absolute NNN structure and scheduled 2% annual increases.
Where is this conventional restaurant located?
The property is located at 6501 Southwest Freeway Houston, TX.
What is the asking price?
The asking price for this property is $4,808,963.
What are key features of this property?
This property features: 9,000‑square‑foot conventional restaurant property; Absolute NNN ground lease with 2% annual increases; Located along the Southwest Freeway at US‑59 / I‑69
