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Greenhouse at I-10 Retail Center 19304 Katy Fwy 14,000 SF 29% Leased Retail Building Houston, TX 77084 $4,700,000 ($335.71/SF) 8.47% Cap Rate
Investment Highlights
- Desirable Freeway Location, Priced Below Replacement Cost
- Excellent for Owner/User or Investor
- Over 200,000 Vehicles Per Day at Greenhouse Road and Interstate 10
- Recently Built in 2023
- Realistic Pro Forma Cap Rate of 8.47 Percent
- Located Within Pocket of Premier Retail Developments and Medical Destinations Serving West Houston and Katy
Executive Summary
Marcus & Millichap is pleased to exclusively list for sale Greenhouse at I-10 Retail Center, located at 19304 Katy Freeway in Houston, Texas. This 14,000-square-foot retail center is situated on a two acre parcel located at the northwest quadrant of Interstate 10 and Greenhouse Road.
The subject property is offered a price of $4,700,000, at $336/SF to the building. With a land value of $35/SF or higher, this opportunity allows a user or investor to purchase the property below the cost of the land plus building shell cost, while benefiting from a leased urgent care co-tenant. 4,000 square feet of the property are leased to Excel Urgent Care, a multi-location healthcare provider. The remaining 10,000 square feet are vacant and in shell-condition. The offering is priced favorably for an investor to lease the available space at below market rents for faster lease up, or for an owner-user to build the space how they want it at a favorable cost-basis. If an investor leases the 10,000 square feet at a below market rate of $27.00 per square foot plus triple-net, the pro forma cap rate would be approximately 8.50 percent.
Strategically positioned near major healthcare hubs such as Houston Methodist West Hospital and Texas Children’s Hospital West Campus, the property benefits from proximity to significant employment and patient traffic, enhancing its appeal for both medical and retail tenants. Other nearby retailers include: Pluckers Wing Bar, CAVA, Taco Deli, Chick-Fil-A, and Starbucks.
The subject property is offered a price of $4,700,000, at $336/SF to the building. With a land value of $35/SF or higher, this opportunity allows a user or investor to purchase the property below the cost of the land plus building shell cost, while benefiting from a leased urgent care co-tenant. 4,000 square feet of the property are leased to Excel Urgent Care, a multi-location healthcare provider. The remaining 10,000 square feet are vacant and in shell-condition. The offering is priced favorably for an investor to lease the available space at below market rents for faster lease up, or for an owner-user to build the space how they want it at a favorable cost-basis. If an investor leases the 10,000 square feet at a below market rate of $27.00 per square foot plus triple-net, the pro forma cap rate would be approximately 8.50 percent.
Strategically positioned near major healthcare hubs such as Houston Methodist West Hospital and Texas Children’s Hospital West Campus, the property benefits from proximity to significant employment and patient traffic, enhancing its appeal for both medical and retail tenants. Other nearby retailers include: Pluckers Wing Bar, CAVA, Taco Deli, Chick-Fil-A, and Starbucks.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
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-
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| Other Income |
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-
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| Vacancy Loss |
-
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-
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| Effective Gross Income |
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| Net Operating Income |
$99,999
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$9.99
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Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
14,000 SF
Building Class
C
Year Built
2024
Price
$4,700,000
Price Per SF
$335.71
Cap Rate
8.47%
NOI
$398,000
Percent Leased
29%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.16
Lot Size
2.00 AC
Frontage
480’ on Katy Freeway
Amenities
- 24 Hour Access
- Freeway Visibility
- Signage
- Monument Signage
- Fiber Optic Internet
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Excel Care
- Services
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99,999 SF
- -
-
Lorem Ipsum
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Excel Care | Services | 99,999 SF | - | Lorem Ipsum | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Spacious retail suites with 1,500 sqft up to 10,000 sqft available.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 2,500-10,000 SF | Retail | End Cap | Now |
1st Floor
| Size |
| 2,500-10,000 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
1st Floor
| Size | 2,500-10,000 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
Spacious retail suites with 1,500 sqft up to 10,000 sqft available.
Nearby Major Retailers
Property Taxes
| Parcel Number | 1338270010006 | Improvements Assessment | $1,869,875 (2025) |
| Land Assessment | $2,135,306 (2025) | Total Assessment | $4,005,181 (2025) |
Property Taxes
Parcel Number
1338270010006
Land Assessment
$2,135,306 (2025)
Improvements Assessment
$1,869,875 (2025)
Total Assessment
$4,005,181 (2025)
Contacts
-
Joseph Jaques -
Alyssa Difilippo -
Alex Wolansky, CCIM -
Gus Lagos -
Ron Hebert -
Marcus & Millichap
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Greenhouse at I-10 Retail Center | 19304 Katy Fwy
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