Allendale Plaza
Retail | 19,130 SqFt
Marketing description
Allendale Plaza is a neighborhood-serving retail property located at 5455 Allendale Road in Houston, Texas, within the established southeast Houston retail corridor near the Greater Hobby Area. The center benefits from strong connectivity to Interstate 45, nearby residential communities, and surrounding industrial employment hubs, positioning it as a convenient daily-needs destination for the local population. With a small-format retail layout, the property is well suited for service-oriented tenants, convenience retail, quick-service food concepts, and other community-focused businesses that cater to the surrounding trade area.
The property's location supports consistent neighborhood traffic driven by nearby residential density, workforce activity, and proximity to key Houston employment centers. Situated near William P. Hobby Airport and within close access to major transportation corridors, Allendale Plaza benefits from both commuter and local consumer demand. The surrounding area features a diverse mix of established single-family neighborhoods, multifamily housing, and industrial uses that contribute to stable daytime and evening traffic patterns. The center's positioning within a densely populated southeast Houston submarket supports continued demand for convenience-oriented retail and neighborhood services.
Investment highlights
- 100% Occupied | Rents 20-35% Below Market with Near-Term Rollover - Allendale Plaza is fully occupied across seven tenants generating $224,508 in annual base rent at an average of $11.74 PSF, against market rents of $14-$18 PSF for comparable neighborhood retail in Southeast Houston. Five leases roll between 2026 and 2028, giving the next owner immediate leverage to reset rents and grow NOI.
- 335,000+ Residents Within 5 Miles | Growing Southeast Houston Trade Area - Situated in the heart of Meadowbrook-Allendale, one of Southeast Houston's most established residential corridors, with over 335,000 residents within five miles and a 1-mile population that grew 6.3% from 2020 to 2025, sustaining consistent demand for the convenience and service retail that defines the center's tenant mix.
- 4 Miles from William P. Hobby Airport | Major Southwest Airlines Hub - The center benefits from additional consumer demand generated by airport and hospitality workers and the broader Hobby Airport District economy, a reliable demand driver that extends beyond the immediate neighborhood.
- Needs-Based Tenant Mix - Recession and Internet Resistant Seven tenants across medical, food service, wellness, and neighborhood convenience represent the daily-needs profile that maintains occupancy through economic cycles and continues to outperform discretionary retail.
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