Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5900-5940 Broadway Ave Galveston, TX 77551
    Back to Search
    Property profile & analytics

    5900-5940 Broadway Ave Galveston, TX 77551

    View on Map
    • Retail properties & Spaces
    • 76,986 SF
    • 4.94 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 5900-5940 Broadway Ave

    Year built
    1961
    Lot size
    4.94 lot acres
    Property size
    76,986 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail opportunity presents 76,986 square feet of space within the Broadway Shopping Center, located at 5900-5940 Broadway Avenue J, Galveston, Texas, 77551. Situated on a 4.94-acre lot, this Class C property boasts 380 parking spaces, ensuring ample convenience for customers. Built in 1961 and renovated in 1989, the center comprises a single building with 11 suites. Currently, there are 18,296 square feet of vacant space available, with a maximum contiguous space of 9,896 square feet. The property is conveniently located near the intersection of Broadway Avenue and 59th Street in the NASA/Clear Lake submarket of Galveston County (APN: 7205-0000-0008-001). This established center offers a strong foundation for a variety of retail businesses, benefiting from its high visibility and established presence within the community. The significant available space presents a unique opportunity for expansion or new tenancy within a well-established shopping center. The property's size and location make it an ideal investment for businesses seeking a prominent presence in the Galveston market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Galveston
    County
    Galveston
    State
    Texas
    Longitude
    -94.8349
    Latitude
    29.2896

    Comparable in this City

    • Value Estimation by Request
      1,584 SF

      2411 67Th St

      Individual retail properties • 1,584 SF
      2411 67Th St, Galveston, TX 77551
      View Details
    • Value Estimation by Request
      9,500 SF

      6028 Heards Ln

      Restaurants • 9,500 SF
      6028 Heards Ln, Galveston, TX 77551
      View Details
    • Value Estimation by Request
      26,000 SF

      5302 Broadway Ave

      Restaurants • 26,000 SF
      5302 Broadway Ave, Galveston, TX 77551
      View Details
    • Value Estimation by Request

      5907 Broadway Ave

      Automotive properties
      5907 Broadway Ave, Galveston, TX 77551
      View Details
    • Value Estimation by Request
      209,152 SF

      61st St. & Central City Blvd

      Retail properties & Spaces • 209,152 SF
      61st St. & Central City Blvd, Galveston, TX 77551
      View Details
    • Value Estimation by Request
      64.94 Acres

      Galveston, TX 77551

      INDUSTRIAL (GENERAL) • 64.94 Acres
      Galveston, TX 77551
      View Details

    Similar Nearby for Sale

    • $2,500,000
      7,103 SF

      Galveston Commercial Property for Sale

      Two-acre commercial property in Galveston's Midtown with endless possibilities.
      5717 Stewart Rd, Galveston, TX 77551
      View Details
    • Contact for pricing
      2,500 SF

      Retail Property in Galveston, TX

      Retail property with 2,500 square feet of space.
      1017 61St St, Galveston, TX 77551
      View Details
    • Contact for pricing
      2,500 SF

      Galveston Retail Space Opportunity

      Retail space available for sale in Galveston, Texas.
      1017 61St St, Galveston, TX 77551
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr

      Galveston Office Building For Lease

      Two-story office building near 61st Street in Galveston, Texas.
      6501 Stewart Rd, Galveston, TX 77551
      View Details
    • $2,500 /Mo
      2,136 SF

      Galveston Corner Office Space

      Corner office space with high visibility and independent signage.
      6511 Stewart Rd, Galveston, TX 77551
      View Details
    • $18 SF/Yr
      5,500 SF

      Galveston Office Building For Lease

      Two-story office building with excellent access and visibility.
      6501 Stewart Rd, Galveston, TX 77551
      View Details
    • $1.90 SF/Yr
      830 SF

      Galveston Office Space For Lease

      Office space for lease with flexible subdivision options.
      6025 Heards Lane Cir, Galveston, TX 77551
      View Details
    • $1.90 SF/Yr
      830 SF

      Galveston Office Space For Lease

      Office space for lease in Galveston, Texas with parking.
      6025 Heards Lane Cir, Galveston, TX 77551
      View Details
    Request Owner's contact information
    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.
    5900-5940 Broadway Ave
    Galveston, TX 77551
    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
    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

    Thank You for Inquiry
    5900-5940 Broadway Ave, Galveston, TX, 77551
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!