9929 Homestead Road | 9929 Homestead Rd
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9929 Homestead Road 9929 Homestead Rd
139,575 SF Retail Building Houston, TX 77016 $6,900,000 ($49/SF)
Investment Highlights
- Conceptual plans, including the “Community Bridge” plan to enhance local engagement and revitalization
- Aligns with Texas Department of Housing and Community Affairs (TDHCA) guidelines for Low-Income Housing Tax Credits (LIHTC)
- Completed Phase I and II Environmental Studies, clearing the property for development
- City of Houston Brownfields Redevelopment Program
Executive Summary
Located at 9929 Homestead, Houston, TX 77016, this expansive 11.71-acre commercial shopping center site is situated in northeast Houston, approximately two miles east of I-69 (Eastex Freeway). Once a bustling retail hub anchored by a 126,890 SF K-Mart and various pad-site retailers, the property has remained vacant since 2013, presenting a unique redevelopment opportunity.
Investment and Improvements
Since acquiring the property, the current owner has invested over $5 million in extensive preconstruction and site improvements to position the site for revitalization. Key efforts include:
- Comprehensive conceptual plans, including the “Community Bridge” plan to enhance local engagement and revitalization
- Completed Phase I and II Environmental Studies, clearing the property for development
- Extensive building cleaning, graffiti removal, and new exterior painting
- Routine site maintenance and full tax payments
Development Potential:
With its strategic location, this site has the potential to transform the surrounding community. Redevelopment could catalyze local workforce expansion, attract additional retail and grocery stores, and foster local entrepreneurship, as detailed in the Community Bridge presentation. Additionally, the property’s location aligns with Texas Department of Housing and Community Affairs (TDHCA) guidelines for Low-Income Housing Tax Credits (LIHTC), adding another layer of potential for mixed-use or residential projects.
City of Houston Brownfields Redevelopment Program:
This property is part of the City of Houston’s Brownfields Redevelopment Program (BRP), dedicated to converting urban land and historical landmarks into valued community assets. Through this program, developers can access grant funding, technical resources, and city-supported community outreach and site assessments. Visit City of Houston BRP at https://www.houstontx.gov/brownfields/index.html for additional information.
Sales information is based on owner-provided and publicly available information. Buyers should independently verify information and obtain own survey.
Investment and Improvements
Since acquiring the property, the current owner has invested over $5 million in extensive preconstruction and site improvements to position the site for revitalization. Key efforts include:
- Comprehensive conceptual plans, including the “Community Bridge” plan to enhance local engagement and revitalization
- Completed Phase I and II Environmental Studies, clearing the property for development
- Extensive building cleaning, graffiti removal, and new exterior painting
- Routine site maintenance and full tax payments
Development Potential:
With its strategic location, this site has the potential to transform the surrounding community. Redevelopment could catalyze local workforce expansion, attract additional retail and grocery stores, and foster local entrepreneurship, as detailed in the Community Bridge presentation. Additionally, the property’s location aligns with Texas Department of Housing and Community Affairs (TDHCA) guidelines for Low-Income Housing Tax Credits (LIHTC), adding another layer of potential for mixed-use or residential projects.
City of Houston Brownfields Redevelopment Program:
This property is part of the City of Houston’s Brownfields Redevelopment Program (BRP), dedicated to converting urban land and historical landmarks into valued community assets. Through this program, developers can access grant funding, technical resources, and city-supported community outreach and site assessments. Visit City of Houston BRP at https://www.houstontx.gov/brownfields/index.html for additional information.
Sales information is based on owner-provided and publicly available information. Buyers should independently verify information and obtain own survey.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Freestanding
Building Size
139,575 SF
Building Class
C
Year Built
1965
Price
$6,900,000
Price Per SF
$49
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
11.64 AC
Zoning
N/Ap, Houston
Parking
500 Spaces (6.67 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 0440020000181 | Improvements Assessment | $107,968 |
| Land Assessment | $1,530,393 | Total Assessment | $1,638,361 |
PROPERTY TAXES
Parcel Number
0440020000181
Land Assessment
$1,530,393
Improvements Assessment
$107,968
Total Assessment
$1,638,361
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9929 Homestead Road | 9929 Homestead Rd
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