Retail Investment Opportunity in
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8705 W Bellfort Ave, Houston, TX 77031
Multi-tenant shopping center anchored by Dollar Tree for sale.
Property Size51,400 SF
Price / SF$215.84
Days on Market815
Property Features for 8705 W Bellfort Ave
General Information
Standard status
Active
Size
51,400 SF
Property subtype
Retail
Occupancy
95%
Lease Type
NNN
Investment Type
Owner/User
Net Operating Income
$804,315
Building Details
Year Built
1983
Year Renovated
2009
Tenancy
Multi
Listing Agency:
The Blue Ox Group
(713) 324-8954
Listed By:
ANITA AMIN · License #TX 687033
Source:
Crexi
Added: May 18, 2024
Changed: Aug 8
Last Checked: Aug 9 at 1:48PM
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 The Blue Ox Group
Investment Insights
Based on property information with market context.
West Bellfort Plaza is a multi-tenant investment opportunity located at the southwest corner of West Bellfort Avenue and South Gessner Road in Houston, Texas. The center is anchored by Dollar Tree and comprises a strong internet-resistant tenant mix. The property provides retail, food, service, and medical offerings to the immediate and surrounding areas. The property size is 51,400 square feet.
Key Highlights
- Anchored by Dollar Tree, providing consistent customer traffic.
- Strong internet‑resistant tenant mix, ensuring stable income.
- Offers diverse retail, food, service, and medical options.
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
$696,964
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
6.28%
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%
$13,939,280
$13.9M
Cap Rate 7%
$9,956,629
$10.0M
Cap Rate 9%
$7,744,044
$7.7M
Market Conditions
NOI Build-Up for 51,400 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
$1.05M $20.52/SF
− Vacancy
−$59.1K −$1.15/SF
EGI
$995.7K $19.37/SF
− OpEx
−$298.7K −$5.81/SF
NOI
$697.0K $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%
$13,939,280
Cap Rate 7%
$9,956,629
Cap Rate 9%
$7,744,044
Alternative Uses
Best Use
Retail
$9.96M
$8.71M – $11.62M
NOI $696,964 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.22M
$11.57M – $15.42M
NOI $925,200 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
5k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 87%
Dining 13%
Shell
Shops & Services
4,172 visits/mo
0.3 miles
Frenchy's
Dining
673 visits/mo
0.3 miles
Extra Space Storage
Shops & Services
486 visits/mo
0.1 miles
Demographics for 77031, TX
15,678
Population
6,906
Households
2.3
Avg Household Size
36
Median Age
23%
College-Educated
68%
High-School Grad
3.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$46,892
Median Household Income
$33,638
Median Earnings
$1,083
Median Rent
$227,100
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant shopping center anchored by Dollar Tree for sale.
Where is this shopping center located?
The property is located at 8705 W Bellfort Ave Houston, TX.
What is the asking price?
The asking price for this property is $11,094,000.
What are key features of this property?
This property features: Anchored by Dollar Tree, providing consistent customer traffic.; Strong internet‑resistant tenant mix, ensuring stable income.; Offers diverse retail, food, service, and medical options.
