Katy Retail Center For
For Sale
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2212 Katy Flewellen Rd, Katy, TX 77494
14,942 SF retail center on 1.23 acres, 100% leased.
Property Size14,942 SF
Lot Size1.23 Acres
Price / SF$383.76
Days on Market769
Property Features for 2212 Katy Flewellen Rd
General Information
Standard status
Active
Size
14,942 SF
Lot size
1.23 Acres
Property subtype
Retail, Land
Occupancy
100%
Net Operating Income
$358,380
Building Details
Year Built
2016
Listing Agency:
Texas Land & Commercial Properties
Listed By:
Paul King · License #TX 489491
(832) 498-3731
Source:
Crexi
Added: Jul 29, 2024
Changed: Aug 23
Last Checked: Sep 2 at 1:35AM
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 Texas Land & Commercial Properties
Investment Insights
Based on property information with market context.
This 14,942 square foot retail center is situated on 1.23 acres in Katy, Texas. The property is located at the northwest corner of the entrances to the Woodcreek Reserve and Grayson Lakes communities. The shopping center is fully leased, with a daycare serving as the long-term anchor tenant. This property presents an opportunity to purchase a commercial property in a well-located area.
Key Highlights
- 100% leased retail center providing immediate income.
- Located in Katy, a desirable and growing area.
- Anchor tenant is a daycare, providing stable long‑term income.
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
$202,393
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
3.53%
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%
$4,047,860
$4.0M
Cap Rate 7%
$2,891,329
$2.9M
Cap Rate 9%
$2,248,811
$2.2M
Market Conditions
NOI Build-Up for 14,942 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
$306.6K $20.52/SF
− Vacancy
−$17.5K −$1.17/SF
EGI
$289.1K $19.35/SF
− OpEx
−$86.7K −$5.81/SF
NOI
$202.4K $13.55/SF
Area
Fort Bend County, TX
Vacancy
5.70%
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%
$4,047,860
Cap Rate 7%
$2,891,329
Cap Rate 9%
$2,248,811
Alternative Uses
Best Use
Retail
$2.89M
$2.53M – $3.37M
NOI $202,393 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$186.14M
$162.87M – $217.16M
NOI $13,029,856 @ 7.0% cap · market cap 227.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77494, TX
130,872
Population
44,520
Households
2.9
Avg Household Size
35
Median Age
66%
College-Educated
96%
High-School Grad
37.9 sq mi
ZIP Area
3,453
Density / Sq Mi
$146,105
Median Household Income
$68,773
Median Earnings
$2,044
Median Rent
$450,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- The Shops at Katy Reserve — 1708 Spring Green Blvd, Katy, TX 77494
Frequently Asked Questions
What type of property is this?
Shopping center - 14,942 SF retail center on 1.23 acres, 100% leased.
Where is this shopping center located?
The property is located at 2212 Katy Flewellen Rd Katy, TX.
What is the asking price?
The asking price for this property is $5,734,080.
What are key features of this property?
This property features: 100% leased retail center providing immediate income.; Located in Katy, a desirable and growing area.; Anchor tenant is a daycare, providing stable long‑term income.
