Retail Building in Deer
For Sale
Contact for pricing
Pending
3702 Center St, Deer Park, TX 77536
4,800 SF retail building 100% occupied by Jefferson Dental.
Property Size4,800 SF
Days on Market776
Property Features for 3702 Center St
General Information
Standard status
Pending
Size
4,800 SF
Class
B
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$86,400
Building Details
Year Built
1979
Year Renovated
2018
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
ProspectCRE
Listed By:
John Baddour · License #TX 733700
Source:
Crexi
Added: Jul 22, 2024
Changed: Aug 13
Last Checked: Sep 4 at 7:41PM
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 ProspectCRE
Investment Insights
Based on property information with market context.
This 4,800 square foot retail building is fully occupied by Jefferson Dental Care. The tenant, a well-established company with over 70 locations throughout Texas and Oklahoma, has occupied the building since August 2018, establishing a strong presence in the Deer Park retail area. The lease is structured as NN, with the landlord responsible for the roof and structure. Constructed in 1979 and renovated in 2018, the property features an excellent parking ratio of 6.6 spaces per 1,000 square feet. The building is located in close proximity to Beltway 8 and Highway 225. Center Street serves as the primary north-south thoroughfare in Deer Park, contributing to a strong daily traffic count. This prime location offers great visibility and presents an excellent opportunity for investors.
Key Highlights
- 100% occupied by corporate‑backed Jefferson Dental Care, a well‑established company.
- NN Lease provides a passive income stream with limited landlord responsibilities (roof & structure only).
- Strong retail location in Deer Park with established business since 2018.
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
$69,661
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
5.36%
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%
$1,393,220
$1.4M
Cap Rate 7%
$995,157
$995.2K
Cap Rate 9%
$774,011
$774.0K
Market Conditions
NOI Build-Up for 4,800 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
$98.5K $20.52/SF
− Vacancy
−$5.6K −$1.17/SF
EGI
$92.9K $19.35/SF
− OpEx
−$23.2K −$4.84/SF
NOI
$69.7K $14.51/SF
Area
Harris 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 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%
$1,393,220
Cap Rate 7%
$995,157
Cap Rate 9%
$774,011
Alternative Uses
Best Use
Specialty Retail
$995.2K
$870.8K – $1.16M
NOI $69,661 @ 7.0% cap · market cap 5.36%
Second Best
Retail
$814.8K
$712.9K – $950.6K
NOI $57,033 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,745 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
166k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 21%
Groceries 16%
Apparel 8%
Lewis Food Town
Groceries
26,074 visits/mo
0.3 miles
Dutch Bros. Coffee
Dining
19,569 visits/mo
0.2 miles
Taco Bell
Dining
14,905 visits/mo
0.3 miles
Starbucks
Dining
14,803 visits/mo
0.1 miles
SONIC Drive In
Dining
13,799 visits/mo
0.2 miles
Demographics for 77536, TX
33,693
Population
12,086
Households
2.8
Avg Household Size
37
Median Age
26%
College-Educated
91%
High-School Grad
9.8 sq mi
ZIP Area
3,438
Density / Sq Mi
$96,297
Median Household Income
$49,817
Median Earnings
$1,344
Median Rent
$238,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drug store - 4,800 SF retail building 100% occupied by Jefferson Dental.
Where is this drug store located?
The property is located at 3702 Center St Deer Park, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 100% occupied by corporate‑backed Jefferson Dental Care, a well‑established company.; NN Lease provides a passive income stream with limited landlord responsibilities (roof & structure only).; Strong retail location in Deer Park with established business since 2018.
