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    704 Greens Rd Houston, TX 77060

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    For Lease
    $11 SF/Yr ($4,858 /Mo)

    Houston Retail Center - 6 Suites Available

    Lot size:
    5,300 SF

    Property Features for 704 Greens Rd

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,300 SF
    Total Rate
    4858.33

    Spaces For Lease

    at 704 Greens Rd, Houston, TX 77060 Contact us
    Unit Available Space

    $13 /Mo

    Size
    3,050 SF
    Contact us
    Unit Inline Space

    $13 /Mo

    Size
    800 SF
    Contact us
    Unit 2nd Gen Restaurant

    $13 /Mo

    Size
    1,450 SF
    Contact us
    Unit Former Insurance office

    $13 /Mo

    Size
    1,350 SF
    Contact us
    Unit Former Liquor store

    $13 /Mo

    Size
    1,700 SF
    Contact us
    Unit Former Liquor Store & Former Insurance Office

    $13 /Mo

    Size
    3,050 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Gustavo Lopez

    Listing Agent: Gustavo Lopez

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

    Learn more

    Overview

    Greens Road Plaza, located at 704 Greens Road in Houston, Texas (zip code 77060), offers a prime retail and restaurant opportunity in Harris County. This 5,300 square foot shopping center currently has six available suites, perfect for a variety of businesses. The property is fully vacant, presenting a unique chance for a single tenant to occupy the entire space or for multiple tenants to establish themselves in this thriving location. Individual suites range in size from a minimum of 800 square feet to a maximum contiguous space of 3,050 square feet, offering flexibility for businesses of various scales. The property's classification as both retail and restaurant space suggests a wide range of potential uses, catering to diverse commercial needs. The address is conveniently situated in a high-traffic area of Houston, providing excellent visibility and accessibility for customers. This presents an exceptional opportunity for businesses seeking a well-located, versatile commercial space in a bustling Houston neighborhood. The property is categorized as a commercial shopping center with multiple tenancy options. Interested parties are encouraged to inquire about lease terms and availability.
    Property Profile Location Intelligence

    Current Use by Public Records

    Beauty Salon Mary Hair Salon

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3988942
    Latitude
    29.9500106

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    FAQs

    What type of property is this?
    Restaurant - Houston Retail Center - 6 Suites Available
    Where is this restaurant located?
    The property is located at 704 Greens Rd Houston, TX.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: Second-generation restaurant/retail space available.; Located in a high-traffic neighborhood shopping center.; Convenient access from Greens Road and Imperial Valley Drive.
    Request Owner's contact information
    704 Greens Rd Houston, TX 77060
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    Houston, TX 77060
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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.

    More about this property
    704 Greens Rd Houston, TX 77060
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    Listing Contact
    Gustavo Lopez
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