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9223 Broadway St
Pearland, TX 77584
Retail Property For Sale
Investment Highlights
- • Positioned on Broadway Street with approximately 477 linear feet of prime road frontage, ensuring strong visibility and traffic exposure.
- • High-income trade area with average household incomes exceeding $150,000 within one mile and steady population growth projections.
- • Surrounded by established and expanding residential neighborhoods, driving sustained consumer demand.
- • Diverse tenant mix anchored by recognized service and retail providers, mitigating lease rollover risk.
- • Located 1.5 miles from Highway 288, offering excellent accessibility and regional connectivity.
- • Opportunity to increase returns through strategic lease-up of remaining vacancy.
Executive Summary
This retail investment opportunity at 9223 Broadway Street in Pearland, Texas, offers a stabilized asset in one of Houston’s most dynamic suburban markets. The property comprises 35,132 square feet of leasable area on a 2.55-acre parcel and features 477 feet of frontage along Broadway Street, a major commuter and commercial corridor in Pearland. With a diversified tenant mix including medical services, retail, and food establishments, the center benefits from strong visibility and ease of access.
The site is currently 77.3% occupied, creating potential upside through lease-up strategies while generating solid in-place income. The offering reports a Net Operating Income (NOI) of $583,276 and a cap rate of 6.25%, providing investors with a balanced combination of security and value-enhancement opportunity. This area has witnessed sustained population growth, with over 177,000 residents within a five-mile radius and average household income exceeding $150,000 within one mile of the property.
Located less than 1.5 miles from Highway 288, the property offers convenient connectivity to the Greater Houston Area, making it attractive to both national and local tenants. With long-term demographic trends favoring continued retail demand and Pearland's position as one of the fastest-growing submarkets in Texas, this asset combines immediate income stability with long-term growth potential.
The site is currently 77.3% occupied, creating potential upside through lease-up strategies while generating solid in-place income. The offering reports a Net Operating Income (NOI) of $583,276 and a cap rate of 6.25%, providing investors with a balanced combination of security and value-enhancement opportunity. This area has witnessed sustained population growth, with over 177,000 residents within a five-mile radius and average household income exceeding $150,000 within one mile of the property.
Located less than 1.5 miles from Highway 288, the property offers convenient connectivity to the Greater Houston Area, making it attractive to both national and local tenants. With long-term demographic trends favoring continued retail demand and Pearland's position as one of the fastest-growing submarkets in Texas, this asset combines immediate income stability with long-term growth potential.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
35,132 SF
Building Class
B
Year Built
2006
Price
$9,229,920
Price Per SF
$262.72
Cap Rate
6.25%
NOI
$576,870
Percent Leased
77%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.32
Lot Size
2.55 AC
Zoning
GB
Parking
151 Spaces (2.19 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Wheelchair Accessible
- Monument Signage
- Air Conditioning
Property Taxes
| Parcel Number | 7867-0001-002 | Improvements Assessment | $5,774,030 |
| Land Assessment | $1,225,970 | Total Assessment | $7,000,000 |
Property Taxes
Parcel Number
7867-0001-002
Land Assessment
$1,225,970
Improvements Assessment
$5,774,030
Total Assessment
$7,000,000
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