Commercial Land with Flex/Office
For Sale
Contact for pricing
7087 Main Street, Houston, TX 77030
Land parcel with retail frontage and existing flex/office shell improvements for owner-users or redevelopment in Houston.
Property Size59,211 SF
Lot Size1.36 Acres
Price / SF$145
Days on Market58
Property Features for 7087 Main Street
General Information
Standard status
Active
Size
59,211 SF
Class
B
Total Parking Spaces
90
Lot size
1.36 Acres
Property subtype
Retail, Land
Investment Type
Redevelopment
Additional Details
Traffic Count
53,606 vehicles/day
Building Details
Year Built
1983
Units
1
Listing Agency:
Marcus & Millichap - Houston
Listed By:
Gus Lagos · License #TX 419197
Source:
Crexi
Added: Jun 17
Changed: Aug 11
Last Checked: Aug 12 at 1:21PM
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 - Houston
Investment Insights
Based on property information with market context.
This offering presents ±1.36 acres of commercial land with existing ±47,918 square feet of flex/office shell improvements. The site includes a development-ready land configuration on the eastern quadrant of Main Street and Kirby Drive, with existing structures that may be built out for an owner-user approach or redeveloped for a new ground-up concept.
Fronting Main Street, the property provides approximately 1,301 feet of retail frontage and is presented as benefiting from an estimated 53,606 vehicles per day. It is positioned roughly within a half-mile of the Medical Center and approximately a bit over one mile from NRG Stadium, supporting a mix of retail-oriented and institutional-adjacent development interests.
For buyers, the combination of substantial street frontage and existing shell space gives options for adaptive reuse, phased development, or demolition and ground-up construction depending on the intended use. The site’s location at a primary thoroughfare between the Medical Center and NRG Stadium area supports planning for uses such as medical/life science, hospitality, retail, multifamily, or mixed-use development, subject to applicable approvals.
Fronting Main Street, the property provides approximately 1,301 feet of retail frontage and is presented as benefiting from an estimated 53,606 vehicles per day. It is positioned roughly within a half-mile of the Medical Center and approximately a bit over one mile from NRG Stadium, supporting a mix of retail-oriented and institutional-adjacent development interests.
For buyers, the combination of substantial street frontage and existing shell space gives options for adaptive reuse, phased development, or demolition and ground-up construction depending on the intended use. The site’s location at a primary thoroughfare between the Medical Center and NRG Stadium area supports planning for uses such as medical/life science, hospitality, retail, multifamily, or mixed-use development, subject to applicable approvals.
Key Highlights
- 1.36‑acre land parcel at 7807 Main Street, Houston, TX 77030 (Year built: 1983).
- 1301 feet of retail frontage on Main Street (approx. 53,606 vehicles per day).
- 59,211 SF land located near Main Street and Kirby Drive.
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
$690,637
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
8.04%
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%
$13,812,740
$13.8M
Cap Rate 7%
$9,866,243
$9.9M
Cap Rate 9%
$7,673,744
$7.7M
Market Conditions
NOI Build-Up for 59,211 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
$1.28M $21.60/SF
− Vacancy
−$358.1K −$6.05/SF
EGI
$920.8K $15.55/SF
− OpEx
−$230.2K −$3.89/SF
NOI
$690.6K $11.66/SF
Area
Houston, TX
Vacancy
28.00%
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%
$13,812,740
Cap Rate 7%
$9,866,243
Cap Rate 9%
$7,673,744
Alternative Uses
Best Use
Office B
$9.87M
$8.63M – $11.51M
NOI $690,637 @ 7.0% cap · market cap 8.04%
Second Best
Flex RnD
$8.81M
$7.71M – $10.28M
NOI $616,564 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$15.23M
$13.32M – $17.76M
NOI $1,065,798 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
53,606 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
2,109
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77030, TX
13,221
Population
7,842
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
99%
High-School Grad
2.6 sq mi
ZIP Area
5,085
Density / Sq Mi
$79,415
Median Household Income
$62,929
Median Earnings
$1,684
Median Rent
$614,100
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Land parcel with retail frontage and existing flex/office shell improvements for owner-users or redevelopment in Houston.
Where is this flex space located?
The property is located at 7087 Main Street Houston, TX.
What is the asking price?
The asking price for this property is $8,585,595.
What are key features of this property?
This property features: 1.36‑acre land parcel at 7807 Main Street, Houston, TX 77030 (Year built: 1983).; 1301 feet of retail frontage on Main Street (approx. 53,606 vehicles per day).; 59,211 SF land located near Main Street and Kirby Drive.
