Mixed-Use Infill Tract with Three-Sided
For Sale
Contact for pricing
710 West 27th Street, Houston, TX 77008
Urban infill mixed-use tract with hard-corner frontage and three-sided access, plus existing improvements and paved parking.
Property Size6,142 SF
Lot Size0.70 Acres
Price / SF$213.56
Days on Market21
Property Features for 710 West 27th Street
General Information
Standard status
Active
Size
6,142 SF
Lot size
0.70 Acres
Property subtype
Mixed Use, Retail, Office
Zoning
No Zoning
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1950
Buildings
2
Stories
1
Units
1
Building Size
6,142 SF
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
WSW Realty
Listed By:
Will Weaver · License #756308
Source:
Crexi
Added: Jul 23
Changed: Aug 8
Last Checked: Aug 12 at 4:36AM
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 WSW Realty
Investment Insights
Based on property information with market context.
Urban infill mixed-use tract totaling 30,437 SF (0.6987-acre) on a hard corner in Houston Heights. The site provides direct frontage on North Shepherd Drive with three-sided access via North Shepherd, West 27th Street, and a rear alley. The remainder of the surrounding city block is already cleared for redevelopment, and the property includes paved on-site parking that can support interim use or immediate redevelopment.
Existing improvements total approximately 6,142 SF across multiple buildings, including a ±1,800 SF front building (c. 1950) and a ±4,342 SF rear metal building (c. 1985). The property is currently owner-occupied; do not disturb occupants. Per owner, the property has never flooded.
No traditional zoning (City of Houston) allows for flexibility across mixed-use, retail, office, medical, townhome, or neighborhood commercial uses (buyer to verify; no entitlements implied). A separately owned 2,313 SF parcel at the northeast corner is excluded from the sale—see survey. Minutes from Downtown Houston, I-10, Loop 610, M-K-T, and Heights Mercantile.
Existing improvements total approximately 6,142 SF across multiple buildings, including a ±1,800 SF front building (c. 1950) and a ±4,342 SF rear metal building (c. 1985). The property is currently owner-occupied; do not disturb occupants. Per owner, the property has never flooded.
No traditional zoning (City of Houston) allows for flexibility across mixed-use, retail, office, medical, townhome, or neighborhood commercial uses (buyer to verify; no entitlements implied). A separately owned 2,313 SF parcel at the northeast corner is excluded from the sale—see survey. Minutes from Downtown Houston, I-10, Loop 610, M-K-T, and Heights Mercantile.
Key Highlights
- 30,437 SF (0.6987‑acre) urban infill mixed‑use tract at a hard corner
- Direct frontage on North Shepherd Drive with three‑sided access via North Shepherd, West 27th, and rear alley
- Existing improvements total approx. 6,142 SF across multiple buildings
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
$412,714
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
6.35%
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%
$8,254,280
$8.3M
Cap Rate 7%
$5,895,914
$5.9M
Cap Rate 9%
$4,585,711
$4.6M
Market Conditions
NOI Build-Up for 30,437 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
$624.6K $20.52/SF
− Vacancy
−$35.0K −$1.15/SF
EGI
$589.6K $19.37/SF
− OpEx
−$176.9K −$5.81/SF
NOI
$412.7K $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%
$8,254,280
Cap Rate 7%
$5,895,914
Cap Rate 9%
$4,585,711
Alternative Uses
Best Use
Retail
$5.90M
$5.16M – $6.88M
NOI $412,714 @ 7.0% cap · market cap 6.35%
Second Best
Mixed Use
$5.74M
$5.02M – $6.70M
NOI $401,768 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$7.83M
$6.85M – $9.13M
NOI $547,866 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,954
Businesses Nearby
Explore this area
Business Placement
Demographics for 77008, TX
36,631
Population
20,709
Households
1.8
Avg Household Size
36
Median Age
72%
College-Educated
96%
High-School Grad
6.5 sq mi
ZIP Area
5,636
Density / Sq Mi
$142,414
Median Household Income
$84,642
Median Earnings
$1,567
Median Rent
$609,300
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?
Mixed-use property - Urban infill mixed-use tract with hard-corner frontage and three-sided access, plus existing improvements and paved parking.
Where is this mixed-use property located?
The property is located at 710 West 27th Street Houston, TX.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 30,437 SF (0.6987‑acre) urban infill mixed‑use tract at a hard corner; Direct frontage on North Shepherd Drive with three‑sided access via North Shepherd, West 27th, and rear alley; Existing improvements total approx. 6,142 SF across multiple buildings
