5206 Airline Drive – Retail Investment Opportunity — Sale in Houston, TX

  • Price: $3.5M
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Houston, TX 77022
  • Size: 17,190 SF
  • Year built: 1964

Photos

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Investment Figures

Price per square foot
$204

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

5206 Airline Drive presents an opportunity to acquire a 17,190-square-foot neighborhood retail center situated on approximately 1.53 acres in Houston’s Near North submarket. The property offers prominent frontage along Airline Drive, substantial surface parking, multiple access points, and a flexible multi-tenant configuration suitable for retail, service, medical, and office users. The center includes existing tenancy along with currently available space, creating potential upside through additional lease-up and tenant optimization. Vacant space is currently being marketed at $22.00 per square foot NNN. Offered at $3,500,000, the property may appeal to investors seeking a neighborhood retail asset with existing income and value-add potential. Multi-tenant retail investment opportunity in Houston’s Near North submarket. 5206 Airline Drive contains approximately 17,190 SF on 1.53 acres with Airline Drive frontage, substantial parking, and existing tenancy plus lease-up upside. The property is being positioned as a value-add opportunity through lease-up and tenant optimization. Ownership and brokerage are currently reconciling the rent roll and operating information. Verified financials, lease details, and due diligence materials will be provided to qualified prospects as they become available. Please contact listing brokers to discuss the property or schedule a tour. Building SF: 17190 | Land Size: 1.53 Ac | Year Built: 1964 | Listing Type: FOR SALE

Market Context

This retail in Houston, TX is listed for sale at $3,500,000 across 17,190 SF. The building dates to 1964. Compare it against other retail listings for sale in Houston, TX — view the full market.

As of Q1 2026, the Houston retail market showed a 5.5% vacancy rate, average asking rents near $21.28/SF/yr, rents up 2.5% year over year, and cap rates around 7.5%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Retail market FAQ

What is the typical cap rate for retail in Houston?
About 7.5% as of Q1 2026, per multiple brokerage reports.
Is the Houston retail market tightening or softening?
Vacancy is around 5.5%, with asking rents rising year over year (Q1 2026).

First seen on CREHunt: Oct 11, 2026

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