Gated
New
For Sale
$625,000
2817 Southmore Boulevard, Houston, TX 77004
A corporate mid-term lease is in place through December 2026.
Property Size3,777 SF
Days on Market4
Property Features for 2817 Southmore Boulevard
General Information
Standard status
Active
Size
3,777 SF
Total Parking Spaces
7
Property subtype
Multi Family,Quadruplex
Occupancy
100%
Site & Location
Neighborhood
Greater Third Ward
Highway Access
Yes
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$10,999
Amenities
gated
automated driveway gate
large backyard
Building Details
Building Size
3,777 SF
Year Built
1942
Year Renovated
2022
Tenancy
Single
Listing Agency:
Compass RE Texas, LLC - Houston
Listed By:
Michael Carpenter · License #0828715
(254) 716-0978
Source:
Nancyalmodovar
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 28 at 3:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass RE Texas, LLC - Houston
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Configured as a quadplex, the property contains four living areas, six bedrooms, five full bathrooms and three kitchens. Improvements completed in 2022 included a new roof, PEX plumbing, electrical updates and HVAC work. The gated grounds include an automated driveway gate, a large backyard and parking for up to seven vehicles.
Located in Houston’s Third Ward, the property is near Downtown, the Texas Medical Center, universities, restaurants and entertainment, with access to Highway 288. The building dates to 1942 and is leased on a mid-term corporate basis through December 2026.
Located in Houston’s Third Ward, the property is near Downtown, the Texas Medical Center, universities, restaurants and entertainment, with access to Highway 288. The building dates to 1942 and is leased on a mid-term corporate basis through December 2026.
Key Highlights
- Four living areas, 6 bedrooms, 5 full baths and 3 kitchens
- Renovated in 2022, with a new roof, PEX plumbing, updated electrical and HVAC systems
- Mid‑term corporate lease runs through December 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,470
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$989,400
$989.4K
Cap Rate 7%
$706,714
$706.7K
Cap Rate 9%
$549,667
$549.7K
Market Conditions
NOI Build-Up for 3,777 SF
Gross rent
$74.8K $19.80/SF
− Vacancy
−$4.1K −$1.09/SF
EGI
$70.7K $18.71/SF
− OpEx
−$21.2K −$5.61/SF
NOI
$49.5K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$989,400
Cap Rate 7%
$706,714
Cap Rate 9%
$549,667
Alternative Uses
Best Use
Multifamily LT 5
$706.7K
$618.4K – $824.5K
NOI $49,470 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$611.3K
$534.9K – $713.2K
NOI $42,790 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$971.2K
$849.8K – $1.13M
NOI $67,986 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,584
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - A corporate mid-term lease is in place through December 2026.
Where is this quadplex located?
The property is located at 2817 Southmore Boulevard Houston, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Four living areas, 6 bedrooms, 5 full baths and 3 kitchens; Renovated in 2022, with a new roof, PEX plumbing, updated electrical and HVAC systems; Mid‑term corporate lease runs through December 2026
