Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7850 Grand Pkwy Richmond, TX 77406

    Sponsored
    For Lease
    $30 SF/Yr

    8,015 SF Retail Space Available in Texas

    Lot size:
    8,015 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    This exceptional retail opportunity presents 8,015 square feet of vacant space within The Shops at Grove Park, a strip center located at 7850 W Grand Parkway S in Richmond, Texas, 77406. Situated in Fort Bend County, this property offers flexible space options, with a minimum divisible unit of 1,050 square feet and a maximum contiguous space of 5,465 square feet. The entire 8,015 square foot building is currently available for lease. This prime location provides excellent visibility and accessibility for businesses seeking a strong presence in a thriving community. The property's convenient location offers easy access to major transportation routes, ensuring high traffic flow and customer accessibility. The Shops at Grove Park presents a unique chance to establish or expand a retail operation in a dynamic market. Interested parties are encouraged to inquire for further details and explore the possibilities this exceptional retail space offers. The property is classified as a retail strip center with multiple tenancy options. This presents a versatile opportunity for a variety of retail businesses. The property's size and layout offer significant potential for customization to suit individual business needs.

    Property Features for 7850 Grand Pkwy

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,015 SF
    Total Rate
    20037.5

    Unit(s) available at that property

    Space
    Available Space 2
    Size
    1,885 SF
    Rate per SF
    $30

    We can help!

    Listing Contact
    Sandy P. Aron
    Sandy P. Aron

    Learn more

    Property Insight Report

    HighLights

    • Prime Grand Parkway location in Fort Bend County, south of Cinco Ranch/Katy.
    • Exceptional growth potential: Over 26% residential growth projected within five years.
    • Conveniently located near Kroger, Regal Grand Parkway 22 movie theater, Goddard School, and Oak Bend Medical Center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Anytime Fitness Gym Giftedhands Barbershop Barber Shop Violet Music Academy Music School Avis Car Rental Car Rental Agency Budget Car Rental Car Rental Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.743686555604
    Latitude
    29.662596822073

    Nearby Similar for Lease

    • Contact for pricing
      40,000 SF

      Harvest Green Retail Center

      Prime Richmond, TX retail space.
      2310 Harlem Rd, Richmond, TX 77406
      View Details
    • Contact for pricing
      8,250 SF

      Richmond Retail Space Available

      Retail space and pad sites available near Grand Parkway.
      W Grand Pkwy S, Richmond, TX 77406
      View Details
    • Contact for pricing
      23,800 SF

      Aliana Retail Center: Prime Location

      23,800 SF Multi-Tenant Retail/Office Space
      10450 Fm 1464 Rd, Richmond, TX 77407
      View Details
    • $21 SF/Yr
      5,940 SF

      Grand Bellfort Building I

      5,940 SF Flex Space in Richmond, TX
      18120 Bellfort, Richmond, TX 77407
      View Details
    • Contact for pricing
      7,564 SF

      Richmond Retail Center Opportunity

      Kroger-anchored, 2,000 SF available
      8019 Grand Pkwy, Richmond, TX 77469
      View Details
    • Contact for pricing
      9,190 SF

      Retail Space in Richmond, Texas

      Located in a high-growth area near Grand Parkway and West Airport.
      Harlem Rd, Richmond, TX 77406
      View Details
    • $26 SF/Yr
      13,429 SF

      Mega Square Shopping Center: Richmond, TX

      Retail Space Available: I-69 Frontage, High Traffic
      4120 Richmond Pkwy, Richmond, TX 77469
      View Details
    • Contact for pricing
      10,289 SF

      Richmond Lakes Retail Space

      Prime Retail/Restaurant Opportunity in Richmond, TX
      9111 Farm To Market Rd 723, Richmond, TX 77406
      View Details
    • Contact for pricing
      1 SF

      Richmond Retail Center Opportunity

      New Retail Space - Prime Location
      0 Swq Of Fm 359 & Mckinnon Rd, Richmond, TX 77406
      View Details
    • $29 SF/Yr
      19,428 SF

      Richmond Retail Center - Aria Square

      Prime Retail Space in Richmond, TX
      4125 Williams Way Blvd, Richmond, TX 77469
      View Details
    • $2,500 /Mo
      1,650 SF

      Updated Office Space in Richmond

      Charming, updated office space in the heart of Old Town.
      803 Austin St, Richmond, TX 77469
      View Details
    • Contact for pricing
      688,364 SF

      Richmond Retail Opportunity

      High-traffic retail space available
      7 Fm 1464 Rd, Richmond, TX 77407
      View Details

    FAQs

    What type of property is this?
    Neighborhood center - 8,015 SF Retail Space Available in Texas
    Where is this neighborhood center located?
    The property is located at 7850 Grand Pkwy Richmond, TX.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: Prime Grand Parkway location in Fort Bend County, south of Cinco Ranch/Katy.; Exceptional growth potential: Over 26% residential growth projected within five years.; Conveniently located near Kroger, Regal Grand Parkway 22 movie theater, Goddard School, and Oak Bend Medical Center.
    Request Owner's contact information
    7850 Grand Pkwy Richmond, TX 77406
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7850 Grand Pkwy
    Richmond, TX 77406
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    7850 Grand Pkwy Richmond, TX 77406
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Sandy P. Aron
    Sandy P. Aron
    Real Estate License ID: TX 218898
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.