Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    Victoria Dr Dr Houston, TX 77022

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $14,195,000

    9.31 acres in Independence Heights ready for development.

    Lot size:
    9.31 Acres

    Property Features for Victoria Dr Dr

    General Information

    Lot size
    9.31 Acres
    Source: Elliman

    Listing Agent: Fausto Andrade

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    9.31 Acres in Independence Heights

    This unique contiguous tract of approximately 9.31 acres is located in Independence Heights. The property benefits from its proximity to Whole Foods at 610 and Yale, approximately 5 minutes away, and HEB, approximately 7 minutes away. It offers access to highways 45 and 610, providing access to Downtown, Memorial/Allen Parkway, The Galleria area, and Greenway Plaza, as well as access to Bush International and Hobby airports. All utilities are available, making the tract ready for platting and development. New construction of townhomes has recently been completed behind the tract on Whitney St and the surrounding area.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.3762
    Latitude
    29.8302

    Nearby Similar for Sale

    • $480,000
      2,236 SF

      Modern Duplex Near Medical Center

      Two-story duplex built in 2020, convenient location, fully equipped.
      6501 Osprey Dr, Houston, TX 77048
      View Details
    • New
      $1,050,000
      0.14 Acres

      Houston Heights Income Property

      Income-producing quadplex in Houston's Heights District, fully occupied.
      1246 Omar St, Houston, TX 77008
      View Details
    • $950,000
      0.60 Acres

      Versatile Office-Warehouse Flex Building

      Office-warehouse flex building on 0.60 acres in a high-visibility location.
      11043 Jones Rd, Houston, TX 77070
      View Details
    • $340,000
      1,883 SF

      Charming Renovated Houston Duplex

      Renovated duplex in Houston, perfect for homeowners or investors.
      2212 Terry St, Houston, TX 77009
      View Details
    • $4,500,000
      13,508 SF

      Houston Retail Property on Interstate

      2.64-acre retail site with showroom, service center, and shop.
      15150 North Fwy, Houston, TX 77090
      View Details
    • New
      $600,000
      3,440 SF

      Houston Duplex Near NRG Stadium

      Townhouse-style duplex near NRG Stadium and medical center.
      5140 Mallow St, Houston, TX 77033
      View Details
    • $6,500,000
      1.39 Acres

      New Car Wash on Highway

      Newly built express car wash on high-traffic Houston corridor.
      3703 Highway 6 S, Houston, TX 77082
      View Details
    • $1,300,000
      1.02 Acres

      Houston Car Wash Business Opportunity

      Full-service car wash in a high-traffic Houston location.
      12573 Richmond Ave, Houston, TX 77082
      View Details
    • $2,000,000
      16,800 SF

      North Houston Multi-Use Facility

      Two-story, 16,800 SF medical or specialty facility for sale.
      12414 Dawn Rd, Houston, TX 77067
      View Details
    • $895,000
      4,683 SF

      Houston Office Building with Suites

      Two-story office building with six suites near downtown Houston.
      2601 Prospect St, Houston, TX 77004
      View Details
    • $1,900,000

      Turnkey Restaurant Space For Sale

      Established restaurant property in Northwest Houston with high-visibility frontage.
      5320 Hollister St, Houston, TX 77080
      View Details
    • $850,000
      3,728 SF

      Restored Houston Office Bungalow

      Restored 1920s bungalow ideal for executive office suites.
      2709 Blogett St, Houston, TX
      View Details

    FAQs

    What type of property is this?
    Land - 9.31 acres in Independence Heights ready for development.
    Where is this land located?
    The property is located at Victoria Dr Dr Houston, TX.
    What is the asking price?
    The asking price for this property is $14,195,000.
    What are key features of this property?
    This property features: - 9.31 Acres+- Tract in Independence Heights; - Ready for Platting and Development with All Utilities Available; - Excellent Access to Highways 45 & 610
    (713) 621-8001
    Request Owner's contact information
    Victoria Dr Dr Houston, TX 77022
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Victoria Dr Dr
    Houston, TX 77022
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Victoria Dr Dr Houston, TX 77022
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.