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    1702 Us Highway 181 Portland, TX 78374

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    For Lease
    Contact for pricing

    Prime Portland storefront, high traffic.

    Lot size:
    50,200 SF

    Property Features for 1702 Us Highway 181

    General Information

    Property type
    Retail space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    50,200 SF
    Total Rate
    96216.67

    Building Details

    Year Built
    2011

    Spaces For Lease

    at 1702 Us Highway 181, Portland, TX 78374 Contact us
    Unit Partial White Box (Bldg A)

    $23 /Mo

    Size
    1,500 SF
    Contact us
    Unit Sun Loan Space - Bldg B

    $27 /Mo

    Size
    1,000 SF
    Contact us

    We can help!

    Listing Contact
    Lynann Pinkham
    Lynann Pinkham

    Listing Agency: Cravey Real Estate Services, Inc. Listing Agent: Lynann Pinkham

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional retail storefront opportunity is located within the Esplanade at North Shore development in Portland, Texas. The property, built in 2011, offers 50,200 square feet of total building space, with 5,170 square feet currently vacant. Units are divisible to a minimum of 1,500 square feet, with a maximum contiguous space of 2,000 square feet available. Tenant finish-out is negotiable, providing flexibility for prospective tenants. The property boasts excellent visibility and accessibility from Highway 181, a major commercial thoroughfare in Portland, experiencing a daily traffic count of 40,000 vehicles. This strategic location benefits from a strong surrounding demographic, with a median household income of $70,555 and a median house value of $170,000. Situated at the entrance to the prestigious Northshore Residential and Golf Course development, the center enjoys a prime location alongside established businesses such as Wal-Mart, Chili's Bar & Grill, Marble Slab Creamery, KFC, Prosperity Bank, and IBC Bank. This presents a unique chance to establish a retail presence in a thriving commercial area of San Patricio County, Texas, with easy access and high visibility. The address is 1702 Highway 181, Portland, TX 78374.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mendy Borden Realtor ... Real Estate Agency The Rice Hat Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    San Patricio
    State
    Texas
    Longitude
    -97.3111725
    Latitude
    27.8882614

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    FAQs

    What type of property is this?
    Retail space - Prime Portland storefront, high traffic.
    Where is this retail space located?
    The property is located at 1702 Us Highway 181 Portland, TX.
    What is the lease rate?
    The lease rate is $23-$27 SF/Yr.
    What are key features of this property?
    This property features: 50,200 SF retail building in Portland, TX's Esplanade at North Shore development, with 5,170 SF currently available.; Divisible units from 1,500 SF minimum, up to 2,000 SF contiguous space. Tenant finish-out negotiable.; High-visibility location on Highway 181 (40,000 VPD), near Wal-Mart, Chili's, and other national retailers.
    (361) 288-3102 Call to check price and availability
    Request Owner's contact information
    1702 Us Highway 181 Portland, TX 78374
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    Portland, TX 78374
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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
    1702 Us Highway 181 Portland, TX 78374
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    Contact for Pricing
    Please call us for current price
    and status of this listing Lynann Pinkham
    Lynann Pinkham
    Real Estate License ID: 319336
    (361) 288-3102 (361) 815-2155 (361) 289-5168
    Learn more
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