High-Visibility Storefront with Development
For Sale
Contact for pricing
3743 Erie St, Houston, TX 77017
Versatile storefront with I-45 visibility and expansion potential.
Property Size1,608 SF
Lot Size0.29 Acres
Price / SF$295.40
Days on Market711
Property Features for 3743 Erie St
General Information
Standard status
Active
Size
1,608 SF
Class
B
Lot size
0.29 Acres
Property subtype
Office, Retail
Lease Type
Gross
Building Details
Year Built
1940
Year Renovated
2024
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
RE/MAX Top Realty
Listed By:
Tony Rodriguez · License #TX 511862
Source:
Crexi
Added: Sep 23, 2024
Changed: Aug 14
Last Checked: Sep 1 at 4:47AM
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 RE/MAX Top Realty
Investment Insights
Based on property information with market context.
Located at 3743 Erie St, this 1,610 sq. ft. storefront offers high visibility immediately off I-45. The property includes a 12,900 sq. ft. lot. The property features a 35x16 open-concept area, suitable for a retail floor, creative studio, or collaborative workspace. It also includes a private 14x14 office, a full kitchen, and a bathroom. Front-facing parking is available for 4-6 vehicles, with a large rear lot providing additional parking or fleet storage. The 12,900 sq. ft. lot offers room for expansion or redevelopment. The property is ideal for high-turnover retail or a specialty showroom. It is also suitable for insurance, law, or logistics firms needing a central hub with quick I-45 access. The large lot and office combo make this suitable for contractors (HVAC, Plumbing, Electrical) who require both a front office and secure yard space. The property benefits from high daily traffic counts off Highway 45. The 1,610 sq. ft. interior is functional and layout-optimized for immediate commercial use. The lot offers space to extend the building footprint or create a secure commercial compound.
Key Highlights
- Unparalleled visibility immediately off I‑45 with high daily traffic.
- Expansive 12,900 sq. ft. lot offers room for expansion.
- Move‑in ready 1,610 sq. ft. storefront suitable for various uses.
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
$21,804
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
4.59%
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%
$436,080
$436.1K
Cap Rate 7%
$311,486
$311.5K
Cap Rate 9%
$242,267
$242.3K
Market Conditions
NOI Build-Up for 1,608 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
$33.0K $20.52/SF
− Vacancy
−$1.8K −$1.15/SF
EGI
$31.1K $19.37/SF
− OpEx
−$9.3K −$5.81/SF
NOI
$21.8K $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%
$436,080
Cap Rate 7%
$311,486
Cap Rate 9%
$242,267
Alternative Uses
Best Use
Retail
$311.5K
$272.6K – $363.4K
NOI $21,804 @ 7.0% cap · market cap 4.59%
Second Best
Office B
$267.9K
$234.5K – $312.6K
NOI $18,756 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$413.5K
$361.8K – $482.4K
NOI $28,944 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77017, TX
31,659
Population
11,281
Households
2.8
Avg Household Size
34
Median Age
10%
College-Educated
59%
High-School Grad
9.6 sq mi
ZIP Area
3,298
Density / Sq Mi
$53,750
Median Household Income
$32,771
Median Earnings
$1,049
Median Rent
$146,600
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
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Similar Off Market Nearby
- Shans Carpets And Fine Flooring Inc. — 8105 Gulf Fwy, Houston, TX 77017
Frequently Asked Questions
What type of property is this?
Showroom - Versatile storefront with I-45 visibility and expansion potential.
Where is this showroom located?
The property is located at 3743 Erie St Houston, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Unparalleled visibility immediately off I‑45 with high daily traffic.; Expansive 12,900 sq. ft. lot offers room for expansion.; Move‑in ready 1,610 sq. ft. storefront suitable for various uses.
