100% Occupied Neighborhood Retail
For Sale
Contact for pricing
8841 N Hwy 171, Godley, TX 76044
Modern neighborhood retail center on State Highway 171, built 2014–2022 and fully occupied.
Property Size8,150 SF
Lot Size0.78 Acres
Price / SF$328.83
Days on Market54
Property Features for 8841 N Hwy 171
General Information
Standard status
Active
Size
8,150 SF
Lot size
0.78 Acres
Property subtype
Retail
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$214,142
Additional Details
Highway Access
Yes
Building Details
Year Built
2022
Year Renovated
2022
Buildings
2
Tenancy
Multi
Listing Agency:
Summit Real Estate
(469) 844-8883
Listed By:
Hudson Lambert · License #TX 724882
Source:
Crexi
Added: Jul 7
Changed: Aug 14
Last Checked: Aug 26 at 9:55AM
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 Summit Real Estate
Investment Insights
Based on property information with market context.
Highway 171 Commons is a 100% occupied neighborhood retail center featuring modern construction completed between 2014 and 2022. The property offers 8,150 square feet of gross leasable area on 0.78 acres, with a retail tenant mix focused on service-oriented and daily-needs businesses. Tenants include State Farm, Glazed and Confused, Godley Nutrition, Tan Dat Wildcat, The Hubb, Grace Boutique, and Rustic Memories.
Located on Godley’s main thoroughfare, the center benefits from visibility and accessibility along State Highway 171, identified as one of Godley’s most heavily traveled retail corridors. The surrounding area includes major master-planned and residential developments such as Godley Ranch, Star Ranch, Hadley Farms, and Fox Hollow. Demographic highlights provided for the area include average household incomes above $122,000 within one mile and 286% population growth since 2020.
Located on Godley’s main thoroughfare, the center benefits from visibility and accessibility along State Highway 171, identified as one of Godley’s most heavily traveled retail corridors. The surrounding area includes major master-planned and residential developments such as Godley Ranch, Star Ranch, Hadley Farms, and Fox Hollow. Demographic highlights provided for the area include average household incomes above $122,000 within one mile and 286% population growth since 2020.
Key Highlights
- Neighborhood retail center built 2014–2022 and 100% occupied
- 8,150 SF gross leasable area on 0.78 acres
- Located on State Highway 171 in Godley’s main retail corridor
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
$135,277
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
5.05%
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%
$2,705,540
$2.7M
Cap Rate 7%
$1,932,529
$1.9M
Cap Rate 9%
$1,503,078
$1.5M
Market Conditions
NOI Build-Up for 8,150 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
$203.4K $24.96/SF
− Vacancy
−$10.2K −$1.25/SF
EGI
$193.3K $23.71/SF
− OpEx
−$58.0K −$7.11/SF
NOI
$135.3K $16.60/SF
Area
Johnson County, TX
Vacancy
5.00%
Lease Rate
$24.96 /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%
$2,705,540
Cap Rate 7%
$1,932,529
Cap Rate 9%
$1,503,078
Alternative Uses
Best Use
Retail
$1.93M
$1.69M – $2.25M
NOI $135,277 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$97.69M
$85.48M – $113.97M
NOI $6,838,384 @ 7.0% cap · market cap 255.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
22k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 16%
CEFCO
Shops & Services
11,573 visits/mo
0.1 miles
Shell
Shops & Services
5,504 visits/mo
0.1 miles
SUBWAY
Dining
3,354 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
1,495 visits/mo
0.1 miles
Palio's Pizza Cafe
Dining
198 visits/mo
0.1 miles
Demographics for 76044, TX
5,715
Population
3,127
Households
1.8
Avg Household Size
36
Median Age
26%
College-Educated
95%
High-School Grad
108.3 sq mi
ZIP Area
53
Density / Sq Mi
$103,795
Median Household Income
$56,411
Median Earnings
$1,227
Median Rent
$370,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Shopping center - Modern neighborhood retail center on State Highway 171, built 2014–2022 and fully occupied.
Where is this shopping center located?
The property is located at 8841 N Hwy 171 Godley, TX.
What is the asking price?
The asking price for this property is $2,680,000.
What are key features of this property?
This property features: Neighborhood retail center built 2014–2022 and 100% occupied; 8,150 SF gross leasable area on 0.78 acres; Located on State Highway 171 in Godley’s main retail corridor
