Freestanding Restaurant
New
For Sale
Contact for pricing
8903 Cullen Boulevard, Houston, TX 77051
Restaurant facility with a paved companion parcel and a freestanding site configuration.
Property Size1,948 SF
Lot Size0.38 Acres
Price / SF$358.83
Days on Market7
Property Features for 8903 Cullen Boulevard
General Information
Standard status
Active
Size
1,948 SF
Class
B
Total Parking Spaces
10
Lot size
0.38 Acres
Property subtype
Retail
Occupancy
100%
Net Operating Income
$38,400
Additional Details
Road Access
Yes
Building Details
Year Built
1995
Buildings
1
Tenancy
Single
Listing Agency:
Saga International Realty
Listed By:
Lyndon Yao · License #677937
Source:
Crexi
Added: Aug 5
Changed: Aug 11
Last Checked: Aug 11 at 6:47AM
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 Saga International Realty
Investment Insights
Based on property information with market context.
This restaurant property includes a 1,948 SF building constructed in 1995 and an adjoining paved parcel. Together, the two parcels comprise approximately 16,380 SF and provide a freestanding physical layout for restaurant operations or a future repositioning.
The property fronts Cullen Boulevard at 8903 Cullen Boulevard in Houston, within the Sunnyside / South Park trade area. Its setting serves nearby residential neighborhoods, local service businesses, daily traffic, and established food and beverage demand. The building and adjacent parcel create a straightforward commercial footprint with flexibility for an owner-user or continued restaurant use.
The property fronts Cullen Boulevard at 8903 Cullen Boulevard in Houston, within the Sunnyside / South Park trade area. Its setting serves nearby residential neighborhoods, local service businesses, daily traffic, and established food and beverage demand. The building and adjacent parcel create a straightforward commercial footprint with flexibility for an owner-user or continued restaurant use.
Key Highlights
- 1,948 SF restaurant building constructed in 1995
- Approximately 16,380 SF across two parcels
- Adjacent paved parcel included
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
$29,980
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
4.29%
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%
$599,600
$599.6K
Cap Rate 7%
$428,286
$428.3K
Cap Rate 9%
$333,111
$333.1K
Market Conditions
NOI Build-Up for 1,948 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
$42.1K $21.60/SF
− Vacancy
−$2.1K −$1.08/SF
EGI
$40.0K $20.52/SF
− OpEx
−$10.0K −$5.13/SF
NOI
$30.0K $15.39/SF
Area
Houston, TX
Vacancy
5.00%
Lease Rate
$21.60 /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%
$599,600
Cap Rate 7%
$428,286
Cap Rate 9%
$333,111
Alternative Uses
Best Use
Specialty Retail
$428.3K
$374.8K – $499.7K
NOI $29,980 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$500.9K
$438.3K – $584.4K
NOI $35,064 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77051, TX
18,323
Population
7,453
Households
2.5
Avg Household Size
34
Median Age
15%
College-Educated
78%
High-School Grad
7.4 sq mi
ZIP Area
2,476
Density / Sq Mi
$40,030
Median Household Income
$31,914
Median Earnings
$1,332
Median Rent
$171,900
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?
Conventional restaurant - Restaurant facility with a paved companion parcel and a freestanding site configuration.
Where is this conventional restaurant located?
The property is located at 8903 Cullen Boulevard Houston, TX.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1,948 SF restaurant building constructed in 1995; Approximately 16,380 SF across two parcels; Adjacent paved parcel included
