Mixed-Use Development
For Sale
Contact for pricing
810 Morton Street, Richmond, TX 77469
Adjacent parcels in historic downtown Richmond offer a unified setting for mixed-use redevelopment or separate site strategies.
Property Size1,740 SF
Price / SF$286.78
Days on Market63
Property Features for 810 Morton Street
General Information
Standard status
Active
Size
1,740 SF
Class
B
Property subtype
Mixed Use, Land, Special Purpose
Investment Type
Owner/User
Building Details
Year Built
1962
Year Renovated
2018
Buildings
1
Units
6
Tenancy
Multi
Listing Agency:
Lone Star Properties
Listed By:
Jimmy Siller · License #TX 651659
Source:
Crexi
Added: Jul 1
Changed: Aug 30
Last Checked: Sep 1 at 6:45AM
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 Lone Star Properties
Investment Insights
Based on property information with market context.
The offering consists of adjacent parcels at 808–810 Morton Street in Richmond’s historic downtown. The property forms part of Block 125 in the original City of Richmond plat and is positioned along Morton Street, the city’s civic main street.
The surrounding corridor includes Fort Bend County governmental facilities, professional services, local dining, and established businesses. These uses create a concentrated downtown setting with regular weekday activity. The assembled property can be evaluated for coordinated redevelopment or for separate treatment of the component parcels, subject to buyer due diligence and applicable approvals.
The surrounding corridor includes Fort Bend County governmental facilities, professional services, local dining, and established businesses. These uses create a concentrated downtown setting with regular weekday activity. The assembled property can be evaluated for coordinated redevelopment or for separate treatment of the component parcels, subject to buyer due diligence and applicable approvals.
Key Highlights
- Adjacent parcels at 808–810 Morton Street in Richmond, TX 77469
- Located within historic downtown Richmond
- Part of Block 125 in the original City of Richmond plat
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
$39,445
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
7.90%
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%
$788,900
$788.9K
Cap Rate 7%
$563,500
$563.5K
Cap Rate 9%
$438,278
$438.3K
Market Conditions
NOI Build-Up for 1,740 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
$71.0K $40.80/SF
− Vacancy
−$7.9K −$4.53/SF
EGI
$63.1K $36.27/SF
− OpEx
−$23.7K −$13.60/SF
NOI
$39.4K $22.67/SF
Area
Fort Bend County, TX
Vacancy
11.10%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
37.50%
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%
$788,900
Cap Rate 7%
$563,500
Cap Rate 9%
$438,278
Alternative Uses
Best Use
Mixed Use
$563.5K
$493.1K – $657.4K
NOI $39,445 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$21.68M
$18.97M – $25.29M
NOI $1,517,330 @ 7.0% cap · market cap 304.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,285
Businesses Nearby
Explore this area
Business Placement
Demographics for 77469, TX
57,925
Population
22,854
Households
2.5
Avg Household Size
36
Median Age
40%
College-Educated
91%
High-School Grad
106.8 sq mi
ZIP Area
542
Density / Sq Mi
$101,546
Median Household Income
$49,299
Median Earnings
$1,675
Median Rent
$315,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Adjacent parcels in historic downtown Richmond offer a unified setting for mixed-use redevelopment or separate site strategies.
Where is this mixed-use property located?
The property is located at 810 Morton Street Richmond, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Adjacent parcels at 808–810 Morton Street in Richmond, TX 77469; Located within historic downtown Richmond; Part of Block 125 in the original City of Richmond plat
