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    500 Elgin St Houston, TX 77006

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    For Sale
    Contact for pricing

    0.64-acre commercial lot, ideal redevelopment.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.64-acre commercial land parcel presents a unique redevelopment opportunity in the vibrant Montrose/Midtown Houston submarket. Located at 500 Elgin St, Houston, TX 77006, in Harris County, this property boasts approximately 28,044 square feet (per Harris County Appraisal District records). Its strategic location is bounded by Elgin, Bagby, Rosalie, and Brazos Streets, offering convenient access points and excellent visibility. The site features driveways on each street, ensuring easy ingress and egress. Its proximity to the Montrose and Midtown neighborhoods is a significant advantage, placing it within walking distance of numerous amenities. Across Brazos Street lies a Whole Foods Market, further enhancing its desirability. Direct access from US 59 Exit (SPUR 527) provides exceptional connectivity to major transportation arteries. The surrounding area is experiencing significant growth, with new retail developments and Class-A multifamily projects underway, creating a dynamic and thriving environment. This property is perfectly positioned to capitalize on the continued expansion and high demand in this sought-after location. The site's size and location make it suitable for a variety of commercial developments, presenting a compelling investment opportunity for discerning developers and investors.

    Property Features for 500 Elgin St

    General Information

    Property type
    Land
    Lot Size
    27,878 SF

    HighLights

    • 0.64‑acre commercial land parcel in Houston's Montrose/Midtown submarket.
    • Located at 500 Elgin St, Houston, TX 77006, with approximately 28,044 square feet.
    • Excellent visibility and access, bounded by Elgin, Bagby, Rosalie, and Brazos Streets, with driveways on each street.
    • Prime location near amenities, including a Whole Foods Market across Brazos Street.
    • Easy access to US 59 (SPUR 527) and experiencing significant surrounding growth.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.381521545672
    Latitude
    29.744357650312

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    FAQs

    What type of property is this?
    Land - 0.64-acre commercial lot, ideal redevelopment.
    Where is this land located?
    The property is located at 500 Elgin St Houston, TX.
    What are key features of this property?
    This property features: 0.64-acre commercial land parcel in Houston's Montrose/Midtown submarket.; Located at 500 Elgin St, Houston, TX 77006, with approximately 28,044 square feet.; Excellent visibility and access, bounded by Elgin, Bagby, Rosalie, and Brazos Streets, with driveways on each street.
    Request Owner's contact information
    500 Elgin St Houston, TX 77006
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    Houston, TX 77006
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    Realmo Value Estimation

    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.

    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
    500 Elgin St Houston, TX 77006
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