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    2660 Eldridge Pkwy Houston, TX 77082

    Sponsored
    For Lease
    $12 SF/Yr

    High-traffic power center; spaces available.

    Lot size:
    683,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    Market Square at Eldridge offers 683,000 square feet of prime retail space in the heart of Houston's Energy Corridor. This established power center boasts a strong tenant mix, including national anchors such as Target, TJ Maxx, PetSmart, Ulta, Michael's, and Sam's Club. The center also features a diverse selection of popular restaurants, including Chipotle, Panda Express, Sonic, First Watch, and Menchie's, ensuring high foot traffic and customer engagement. Currently, there is 5,765 square feet of vacant space available, divisible to a minimum of 1,200 square feet and with a maximum contiguous space of 3,780 square feet. A significant opportunity also exists with a 33,500-square-foot pad site available for ground lease or build-to-suit development. The property is strategically located at a high-traffic intersection within the Energy Corridor, a thriving business district home to over 94,000 employees from Fortune 100 companies like Shell, BP, ConocoPhillips, Sysco, McDermott, Worley, and CITGO. Built in 2008, this power center presents a unique opportunity for businesses seeking exposure to a dense and affluent population. The property's established tenant base and prime location make it an ideal investment for long-term growth and profitability. Contact us today to learn more about leasing opportunities.

    Property Features for 2660 Eldridge Pkwy

    General Information

    Property type
    Power centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    683,000 SF
    Total Rate
    683000

    Building Details

    Year Built
    2008

    Unit(s) available at that property

    Space
    Suite 22
    Size
    1,816 SF
    Rate per SF
    $36
    Space
    Suite 11
    Size
    2,215 SF
    Rate per SF
    $36
    Space
    Suite 35
    Size
    5,625 SF
    Rate per SF
    $45
    Space
    Suite 2
    Size
    5,000 SF
    Space
    Big Box
    Size
    91,341 SF
    Rate per SF
    $20

    We can help!

    Listing Contact
    Jason Gaines
    Jason Gaines

    Learn more

    HighLights

    • 683,000 SF Power Center in the Energy Corridor.
    • Anchored by Target, TJ Maxx, PetSmart, Ulta, Michael's, and Sam's Club.
    • Strong restaurant lineup including Chipotle, Panda Express, Sonic, First Watch, and Menchie's.
    • 33,500 SF pad site available for ground lease or build‑to‑suit.
    • High‑traffic Energy Corridor location near 19 million SF of office space and major employers.
    • Located in a submarket with 94,000 employees.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cato Fashions Women'S Clothing Store Target de los ... Supermarket Mariner Finance Mortgage Lender Market Square at Eldridge Shopping Mall

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.625558174071
    Latitude
    29.733093344958

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    FAQs

    What type of property is this?
    Power center - High-traffic power center; spaces available.
    Where is this power center located?
    The property is located at 2660 Eldridge Pkwy Houston, TX.
    What is the lease rate?
    The lease rate is $0.00-$45 SF/Yr.
    What are key features of this property?
    This property features: 683,000 SF Power Center in the Energy Corridor.; Anchored by Target, TJ Maxx, PetSmart, Ulta, Michael's, and Sam's Club.; Strong restaurant lineup including Chipotle, Panda Express, Sonic, First Watch, and Menchie's.
    Request Owner's contact information
    2660 Eldridge Pkwy Houston, TX 77082
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    Houston, TX 77082
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    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
    2660 Eldridge Pkwy Houston, TX 77082
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    We can help!
    Listing Contact
    Jason Gaines
    Jason Gaines
    Real Estate License ID: TX
    Learn more
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