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    2618 Broadway St Pearland, TX 77581

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    For Sale
    Contact for pricing

    6,058 SF, 100% Occupied, Strong Tenant

    Property size:
    6,058 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This freestanding, 6,058-square-foot office building, located at 2618 Broadway St, Pearland, TX 77581, presents a compelling investment opportunity. The property is currently 100% occupied by Gallagher Insurance, a globally recognized insurance brokerage firm, under a single-tenant lease expiring April 30, 2027 (approximately 2.4 years remaining). Gallagher has demonstrated significant commitment, extending their lease twice since acquiring the space in 2016 and completing an interior remodel in 2022. The building, constructed in 1999, sits on a 0.87-acre lot zoned for general commercial use, offering potential for future expansion. Its strategic location in Southeast Houston, near major transportation arteries like the Gulf Freeway and prominent retailers (HEB, Lowe's, Walmart), ensures high visibility and traffic counts (E Broadway St averages 28,495 vehicles per day). The area's robust growth is evidenced by a 17.86% population increase within a 3-mile radius from 2023-2024. This property benefits from its proximity to key regional assets including NASA, the Port of Houston, and the Texas Medical Center. The lease includes two options for renewal. This is a rare opportunity to acquire a well-located, stable investment property with a strong, long-term tenant in a rapidly growing market.

    Property Features for 2618 Broadway St

    General Information

    Property type
    Individual retail properties
    Square Feet
    6,058 SF
    Lot Size
    37,897 SF

    Building Details

    Year Built
    1999
    Buildings
    1

    HighLights

    • 6,058 SF freestanding medical/retail/office building in Pearland, TX, fully occupied by Gallagher Insurance.
    • Lease expires 4/30/2027 (2.4 years remaining); two lease options available.
    • Strong tenant: Gallagher Insurance, a leading global firm, recently completed interior renovations and extended their lease twice.
    • Excellent location: High traffic counts (28,495 VPD on E Broadway St), near major retailers (HEB, Lowe's, Walmart), and significant transportation arteries.
    • 0.87‑acre lot with potential for future expansion. Located in a high‑growth area of Southeast Houston, near NASA and the Port of Houston.
    Property Profile Location Intelligence

    Current Use by Public Records

    Victory Insurance Agency Auto Insurance Agency Gallagher Insurance, Risk ... Insurance Agency

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pearland
    County
    Brazoria
    State
    Texas
    Longitude
    -95.25809737159
    Latitude
    29.553674774707

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    FAQs

    What type of property is this?
    Individual retail property - 6,058 SF, 100% Occupied, Strong Tenant
    Where is this individual retail property located?
    The property is located at 2618 Broadway St Pearland, TX.
    What are key features of this property?
    This property features: 6,058 SF freestanding medical/retail/office building in Pearland, TX, fully occupied by Gallagher Insurance.; Lease expires 4/30/2027 (2.4 years remaining); two lease options available.; Strong tenant: Gallagher Insurance, a leading global firm, recently completed interior renovations and extended their lease twice.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2618 Broadway St Pearland, TX 77581
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