Corner Convenience Store
For Sale
Contact for pricing
7201 Avenue P 1/2, Galveston, TX 77551
Commercially zoned property supports an established neighborhood market and is fully leased.
Property Size3,500 SF
Price / SF$285.71
Days on Market178
Property Features for 7201 Avenue P 1/2
General Information
Standard status
Active
Size
3,500 SF
Class
C
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NNN
Additional Details
Corner Location
Yes
Building Details
Year Built
1990
Stories
1
Tenancy
Single
Listing Agency:
Leopold & Strahan Realty Group LLC
Listed By:
Janet Bass · License #9010305
Source:
Crexi
Added: Apr 20
Changed: Oct 14
Last Checked: Oct 12 at 5:30PM
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 Leopold & Strahan Realty Group LLC
Investment Insights
Based on property information with market context.
This 3,500-square-foot convenience store property in Galveston was built in 1990 and is designated Commercial zoning. The building accommodates an established neighborhood market and is currently fully leased, providing an existing retail operating setup for a new owner.
Positioned on a corner along Heards Lane, the property serves a surrounding residential area and has visibility from a heavily traveled corridor. Its neighborhood-market format and established retail use provide a straightforward profile for buyers seeking an occupied commercial property.
Positioned on a corner along Heards Lane, the property serves a surrounding residential area and has visibility from a heavily traveled corridor. Its neighborhood-market format and established retail use provide a straightforward profile for buyers seeking an occupied commercial property.
Key Highlights
- 3,500‑square‑foot convenience store property in Galveston
- Fully leased to an established neighborhood market
- Commercial zoning designation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,795
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,015,900
$1.0M
Cap Rate 7%
$725,643
$725.6K
Cap Rate 9%
$564,389
$564.4K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$71.8K $20.52/SF
− Vacancy
−$4.1K −$1.17/SF
EGI
$67.7K $19.35/SF
− OpEx
−$16.9K −$4.84/SF
NOI
$50.8K $14.51/SF
Area
Galveston County, TX
Vacancy
5.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,015,900
Cap Rate 7%
$725,643
Cap Rate 9%
$564,389
Alternative Uses
Best Use
Specialty Retail
$725.6K
$634.9K – $846.6K
NOI $50,795 @ 7.0% cap · market cap 5.08%
Second Best
Retail
$673.3K
$589.1K – $785.5K
NOI $47,131 @ 7.0% cap · market cap 4.71%
Theoretical Best
Multifamily LT 5
$39.24M
$34.34M – $45.78M
NOI $2,746,813 @ 7.0% cap · market cap 274.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Home Improvements & Furnishings 7%
Dollar General
Shops & Services
9,862 visits/mo
0.4 miles
Village Hardware
Home Improvements & Furnishings
708 visits/mo
0.5 miles
Demographics for 77551, TX
22,677
Population
11,184
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
86%
High-School Grad
4.0 sq mi
ZIP Area
5,669
Density / Sq Mi
$59,792
Median Household Income
$33,721
Median Earnings
$1,342
Median Rent
$278,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercially zoned property supports an established neighborhood market and is fully leased.
Where is this grocery and convenience store located?
The property is located at 7201 Avenue P 1/2 Galveston, TX.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 3,500‑square‑foot convenience store property in Galveston; Fully leased to an established neighborhood market; Commercial zoning designation
