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    The Largest CRE Database in the US with Over 1 Million Listings

    2409 Commerce St Houston, TX 77003

    Sponsored
    For Lease
    Contact for pricing

    7,400 SF Available in Vibrant Houston

    Lot size:
    12,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional mixed-use property at 2409 Commerce Street in Houston, Texas, offers 12,000 square feet of prime creative office space. Currently, 7,400 contiguous square feet are available for lease, ideal for a single tenant seeking a substantial footprint. The flexible layout allows for multiple tenancy options, with a minimum divisible space of 1,500 square feet. Located in the heart of Harris County, this property boasts a convenient address and excellent accessibility. The building's design caters to creative businesses, offering a unique and inspiring work environment. The property is classified as both office and retail, presenting versatile opportunities for a variety of businesses. The available space is ready for immediate occupancy, providing a significant advantage for businesses seeking a quick move-in. This is a rare opportunity to secure a substantial and adaptable space in a thriving Houston location. The 77003 zip code offers easy access to major transportation routes and a wealth of amenities. Don't miss this chance to establish your business in this dynamic and desirable area. Inquire today to learn more about leasing options and explore the possibilities this property offers.

    Property Features for 2409 Commerce St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,000 SF

    Unit(s) available at that property

    Space
    Available Space
    Size
    7,400 SF

    We can help!

    Listing Contact
    Daniel Lindenberg
    Daniel Lindenberg

    Learn more

    Property Insight Report

    HighLights

    • Hard corner location at Commerce & Colby.
    • Renovated 1912 building, blending historic charm with modern updates; retail and office space available.
    • Walkable to Minute Maid Park, Dynamo Stadium, Ninfa's, and El Tiempo.
    • Close proximity to Cidercade, Common Desk, Forth on Navigation, and The Mill mixed‑use development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Monnin Mortgage Team Mortgage Lender EDC Restorations Fire Damage Restoration Service Jason Monnin at CrossCountry ... Mortgage Lender Edwin Morales at CrossCountry ... Mortgage Lender Kyle Metcalf at CrossCountry ... Mortgage Lender

    Suggested Use

    Realty agency Spa & Massage Dental Office Restaurant Hair Salon Nail Salon Building Supply Clothing Store Pharmacy Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.347051018364
    Latitude
    29.756224571008

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    FAQs

    What type of property is this?
    Office space - 7,400 SF Available in Vibrant Houston
    Where is this office space located?
    The property is located at 2409 Commerce St Houston, TX.
    What are key features of this property?
    This property features: Hard corner location at Commerce & Colby.; Renovated 1912 building, blending historic charm with modern updates; retail and office space available.; Walkable to Minute Maid Park, Dynamo Stadium, Ninfa's, and El Tiempo.
    Request Owner's contact information
    2409 Commerce St Houston, TX 77003
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    Houston, TX 77003
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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
    2409 Commerce St Houston, TX 77003
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    We can help!
    Listing Contact
    Daniel Lindenberg
    Daniel Lindenberg
    Real Estate License ID: TX
    Learn more
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