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    High-Visibility Storefront with Development Potential Title is generated by Realmo AI

    3743 Erie St, Houston, TX 77017

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    Versatile storefront with I-45 visibility and expansion potential.

    Type:Office, Retail
    Property size:
    1,608 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $295/SF
    Added:
    Sep 23, 2024
    Days on Market:
    618
    Last Refresh:
    May 12 at 9:23 pm

    Property Features for 3743 Erie St

    General Information

    Standard status
    Active
    Size
    1,608 SF
    Lot size
    0.29 Acres
    Property subtype
    Office, Retail

    Building Details

    Year Built
    1940

    We can help!

    Listing Contact
    Tony Rodriguez

    Listing agent Tony Rodriguez License #TX 511862

    Listing office RE/MAX Top Realty

    Listing date Sep 23, 2024

    Source Crexi

    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 RE/MAX Top Realty

    HighLights

    • Unparalleled visibility immediately off I‑45 with high daily traffic.
    • Expansive 12,900 sq. ft. lot offers room for expansion.
    • Move‑in ready 1,610 sq. ft. storefront suitable for various uses.
    • Features a large 35x16 open‑concept area.
    • Includes a private 14x14 office, full kitchen, and bathroom.
    • Ample parking with front‑facing spaces and a massive rear lot.

    Overview

    Located at 3743 Erie St, this 1,610 sq. ft. storefront offers high visibility immediately off I-45. The property includes a 12,900 sq. ft. lot. The property features a 35x16 open-concept area, suitable for a retail floor, creative studio, or collaborative workspace. It also includes a private 14x14 office, a full kitchen, and a bathroom. Front-facing parking is available for 4-6 vehicles, with a large rear lot providing additional parking or fleet storage. The 12,900 sq. ft. lot offers room for expansion or redevelopment. The property is ideal for high-turnover retail or a specialty showroom. It is also suitable for insurance, law, or logistics firms needing a central hub with quick I-45 access. The large lot and office combo make this suitable for contractors (HVAC, Plumbing, Electrical) who require both a front office and secure yard space. The property benefits from high daily traffic counts off Highway 45. The 1,610 sq. ft. interior is functional and layout-optimized for immediate commercial use. The lot offers space to extend the building footprint or create a secure commercial compound.
    Property Profile Location Intelligence

    Current Use by Public Records

    Select Caskets of Texas, ... Cemetery

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Similar Places Nearby

    • Shans Carpets And Fine Flooring Inc. — 8105 Gulf Fwy, Houston, TX 77017

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.2785258
    Latitude
    29.6877836

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    FAQs

    What type of property is this?
    Showroom - Versatile storefront with I-45 visibility and expansion potential.
    Where is this showroom located?
    The property is located at 3743 Erie St Houston, TX.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Unparalleled visibility immediately off I‑45 with high daily traffic.; Expansive 12,900 sq. ft. lot offers room for expansion.; Move‑in ready 1,610 sq. ft. storefront suitable for various uses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tony Rodriguez
    Real Estate License ID: TX 511862
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    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.

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