Retail Storefront with Pylon
For Sale
Contact for pricing
6647 Gulf Fwy, Houston, TX 77087
Improved retail property with a pylon sign and a mezzanine balcony that adds additional square footage.
Property Size10,780 SF
Lot Size0.60 Acres
Price / SF$231.91
Days on Market252
Property Features for 6647 Gulf Fwy
General Information
Standard status
Active
Size
10,780 SF
Lot size
0.60 Acres
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Listing Agency:
CBRE, Inc.
(713) 577-1600
Listed By:
Jazz Hamilton
(713) 577-1805
Source:
Moodyscre
Added: Jan 5
Changed: Sep 9
Last Checked: Sep 13 at 7:20AM
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 CBRE, Inc.
Investment Insights
Based on property information with market context.
This for-sale retail storefront includes approximately 10.60 acres with 10,780 square feet of improvements. The property features a 232’ x 12’ mezzanine balcony, creating additional square footage within the existing building layout. A pylon sign is included, supporting building identification and roadside presence.
The property is described as having visibility to Gulf Freeway 45 S. Current occupancy requires 30 days to vacate, and the seller notes there is no income on the property.
Overall, the combination of a pylon sign, meaningful mezzanine balcony area, and the stated exposure to Gulf Freeway 45 S presents a straightforward retail-focused asset for buyers planning for a post-vacate conversion or re-tenanting timeline.
The property is described as having visibility to Gulf Freeway 45 S. Current occupancy requires 30 days to vacate, and the seller notes there is no income on the property.
Overall, the combination of a pylon sign, meaningful mezzanine balcony area, and the stated exposure to Gulf Freeway 45 S presents a straightforward retail-focused asset for buyers planning for a post-vacate conversion or re-tenanting timeline.
Key Highlights
- 0.60 acres with 10,780 SF of improvements
- 232' x 12' mezzanine balcony adds additional square footage
- Great visibility to Gulf Freeway 45 S
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
$146,173
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
5.85%
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%
$2,923,460
$2.9M
Cap Rate 7%
$2,088,186
$2.1M
Cap Rate 9%
$1,624,144
$1.6M
Market Conditions
NOI Build-Up for 10,780 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
$221.2K $20.52/SF
− Vacancy
−$12.4K −$1.15/SF
EGI
$208.8K $19.37/SF
− OpEx
−$62.6K −$5.81/SF
NOI
$146.2K $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 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%
$2,923,460
Cap Rate 7%
$2,088,186
Cap Rate 9%
$1,624,144
Alternative Uses
Best Use
Retail
$2.09M
$1.83M – $2.44M
NOI $146,173 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.77M
$2.43M – $3.23M
NOI $194,040 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
925
Businesses Nearby
Explore this area
Business Placement
Demographics for 77087, TX
34,654
Population
12,400
Households
2.8
Avg Household Size
35
Median Age
12%
College-Educated
63%
High-School Grad
6.6 sq mi
ZIP Area
5,251
Density / Sq Mi
$53,624
Median Household Income
$32,927
Median Earnings
$1,015
Median Rent
$148,400
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
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Frequently Asked Questions
What type of property is this?
Retail space - Improved retail property with a pylon sign and a mezzanine balcony that adds additional square footage.
Where is this retail space located?
The property is located at 6647 Gulf Fwy Houston, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 0.60 acres with 10,780 SF of improvements; 232' x 12' mezzanine balcony adds additional square footage; Great visibility to Gulf Freeway 45 S
