Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2240 Mimosa Dr, Unit 5W Houston, TX 77019

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,695,000

    Spacious 3-bedroom condo with high-end finishes and concierge.

    Property size:
    2,461 SF

    Property Features for 2240 Mimosa Dr

    General Information

    Standard status
    Active
    Size
    2,461 SF

    Building Details

    Year built
    2025

    We can help!

    Listing Contact
    Adriana Banks
    Adriana Banks
    Source: Exitrealty

    Listing Agency: Douglas Elliman Real Estate Listing Agent: Adriana Banks

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

    Learn more

    Overview

    Luxury Condo in River Oaks

    This fifth-floor unit features approximately 2,500 square feet of indoor living space, including 3 bedrooms, 3 bathrooms, and a private study. Expansive windows provide abundant natural light in every bedroom. The interiors feature Italian Boffi design cabinetry, stainless steel appliances including a Gaggenau oven, range, and refrigerator, and Quartz countertops. Wood flooring extends throughout the living areas, complemented by tile in the bathrooms. Terraces offer the option for a summer kitchen. The HOA fee covers full-time concierge services. Located on a tranquil interior street in the River Oaks neighborhood, this residence offers a serene escape. The property size is 2,461 square feet.
    Location Intelligence

    Current Use by Public Records

    Mimosa Terrace Construction Company

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.4147428
    Latitude
    29.7478351

    Nearby Similar for Sale

    • $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
    • $6,500,000
      1.39 Acres

      New Car Wash on Highway

      Newly built express car wash on high-traffic Houston corridor.
      3703 State Highway 6 S, Houston, TX 77082
      View Details
    • $595,000
      3,440 SF

      Townhouse-Style Duplex Near NRG Stadium

      Houston duplex near NRG Stadium with modern amenities and spacious units.
      5140 Mallow St, Houston, TX 77033
      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
    • $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
    • $499,000
      3,232 SF

      High-Visibility Commercial Building For Sale

      Freestanding building in high-growth area, ideal for various businesses.
      5701 Martin Luther King Blvd, Houston, TX 77021
      View Details
    • $900,000
      8,800 SF

      Northwest Houston Industrial Buildings

      Three industrial buildings on 1.66 acres in Northwest Houston.
      11708 Euclaire Dr, Houston, TX 77086
      View Details
    • $580,000
      4,892 SF

      Versatile Commercial Office Condo

      Adaptable space for offices, events, studios, or specialized operations.
      9802 Whithorn Dr, Houston, TX 77095
      View Details
    • $505,000

      Warehouse with Additional Building

      Warehouse and office building with development potential near downtown.
      1939 Hopper Rd, Houston, TX 77093
      View Details
    • $2,100,000
      10,325 SF

      Houston Retail/Industrial Corner Property

      High-visibility commercial property in Houston's Galleria/Uptown area.
      3361 Fountain View Dr, Houston, TX 77057
      View Details
    • $1,400,000
      0.39 Acres

      Houston Multi-Unit Investment Opportunity

      Multi-unit commercial property in Houston, TX, ideal for investors.
      6706 Ralston St, Houston, TX 77016
      View Details
    • $500,000

      Versatile Property with Carport Garage

      Spacious lot with garage and separate building, suitable for various uses.
      5621 Haywood St, Houston, TX 77016
      View Details

    FAQs

    What type of property is this?
    Residential income property - Spacious 3-bedroom condo with high-end finishes and concierge.
    Where is this residential income property located?
    The property is located at 2240 Mimosa Dr, Unit 5W Houston, TX.
    What is the asking price?
    The asking price for this property is $2,695,000.
    What are key features of this property?
    This property features: - Spacious 2,500 SF fifth-floor unit with 3 bedrooms, 3 bathrooms, and private study.; - Located in the prestigious River Oaks neighborhood.; - Option for a summer kitchen on each terrace, enhancing outdoor living.
    (832) 234-7042
    Request Owner's contact information
    2240 Mimosa Dr, Unit 5W Houston, TX 77019
    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.
    2240 Mimosa Dr, Unit 5W
    Houston, TX 77019
    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    2240 Mimosa Dr, Unit 5W Houston, TX 77019
    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
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Adriana Banks
    Adriana Banks
    Real Estate License ID: 0616105
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!