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    3101 Sage Rd Houston, TX 77056

    For Sale
    Contact for pricing

    Rare Redevelopment Opportunity: Income-Producing, Multifamily

    Property size:
    22,176 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 1-acre property at 3101 Sage Rd, Houston, TX 77056, presents a unique redevelopment opportunity in the heart of the Galleria area. The existing structure is a two-story hotel/apartment complex totaling between 22,176 and 99,384 square feet, spread across nine stories. The property boasts an existing parking garage, adding significant value to the redevelopment potential. Its prime location offers easy access to major thoroughfares, including Loop 610 and I-69/Hwy 59, ensuring excellent connectivity. The site is fully fenced and gated, enhancing security. Existing amenities include a swimming pool and cell towers, providing additional income streams or potential for expansion. The property is zoned without restrictions, allowing for a wide range of development possibilities. This income-producing asset presents a rare chance to capitalize on the Galleria's thriving market and create a high-value development. The property's size and location make it ideal for a variety of projects, from luxury apartments to mixed-use developments. This is a truly exceptional opportunity for investors seeking a high-impact project in a prime Houston location. Harris County location offers further advantages.

    Property Features for 3101 Sage Rd

    General Information

    Property type
    Multifamily properties
    Square Feet
    22,176 SF
    Lot Size
    43,560 SF

    Building Details

    Stories
    9

    HighLights

    • High‑yield covered land with existing income stream.
    • Prime redevelopment site near the Galleria area.
    • Two‑story multifamily property (hotel/apartment complex).
    • On‑site parking garage.
    • Excellent access to major freeways (Loop 610, I‑69/Hwy 59).
    • Secure property with pool, cell towers, and gated access.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mister Valet Parking Valet Parking Service OYO Hotel & Apartments ... Hotel Liberty Auto Connections Consultant Stellar Stay Short Term Apartment Rental Agency Galleria Garage Hotel Hotel

    Suggested Use

    Restaurant Law Firm Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Food Market Grocery Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4662724
    Latitude
    29.7348802

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    FAQs

    What type of property is this?
    Multifamily property - Rare Redevelopment Opportunity: Income-Producing, Multifamily
    Where is this multifamily property located?
    The property is located at 3101 Sage Rd Houston, TX.
    What are key features of this property?
    This property features: High-yield covered land with existing income stream.; Prime redevelopment site near the Galleria area.; Two-story multifamily property (hotel/apartment complex).
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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
    3101 Sage Rd Houston, TX 77056
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