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    Property profile & analytics

    1717 Shepherd Dr Houston, TX 77019

    • Commercial real estate
    • 2,248 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3987883
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Childress Scott C / Attorney
    • Tarrant Bob / Attorney
    • O'Driscoll Barbara / Attorney

    Property Details for 1717 Shepherd Dr

    Year built
    1935
    Property size
    2,248 SF
    Property type
    Commercial real estate

    Description

    This exceptional 2,248-square-foot traditional office building presents a unique investment opportunity in Houston's desirable River Oaks area. Built in 1935, this two-story structure sits on a generous 5,000-square-foot lot, offering excellent visibility and accessibility. The entire building is currently vacant, providing a blank canvas for a new tenant. The layout is ideally suited for professional services firms, such as law offices or similar businesses. Ample parking is available with a total of eight spaces, five of which are covered. The property benefits from a prime location, providing quick access to major thoroughfares including I-10 and I-59, as well as the Houston downtown area. Located in Harris County, Texas, with a 77019 zip code, this property offers a blend of historical charm and modern convenience. The building's 2,248 square feet are spread across two stories, offering flexibility in design and use. This single-tenant building presents a rare opportunity to acquire a well-located, fully vacant office building in a highly sought-after Houston neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4104421
    Latitude
    29.7501675

    Comparable in this City

    • $2 SF/Yr
      15,000 SF

      Office Space Available For Rent

      15,000 square feet of office space for lease.
      138 Gray St, Houston, TX 77019
      View Details
    • $31 SF/Yr
      4,100 SF

      Midtown Single Tenant Office Building

      Two-story office building in Midtown near Buffalo Bayou Park.
      3501 Allen Pkwy, Houston, TX 77019
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    • $31 SF/Yr
      506 SF

      Office Space Available For Rent

      Office space available for lease, approximately 506 square feet.
      2001 Kirby Dr, Houston, TX 77019
      View Details
    • Contact for pricing
      33,443 SF

      West Gray Office & Retail Spaces

      Prime Houston Office/Retail, Multiple Suites Available
      0 Gray St. & Woodhead St, Houston, TX 77019
      View Details
    • $32 SF/Yr
      10,663 SF

      River Oaks Executive Suites

      Prime Houston Office Space Available
      2121 San Felipe St, Houston, TX 77019
      View Details
    • $24 SF/Yr
      10,394 SF

      River Oaks Executive Suites

      Prestigious Houston office space available
      2120 Welch St, Houston, TX 77019
      View Details

    Similar Nearby for Sale

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      Houston Multifamily Investment Opportunity

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      Land For Sale Houston

      Land available for sale at 803 W Dallas Street.
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    • $3,195,000

      River Oaks Residential Land Opportunity

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      3714 Inwood Dr, Houston, TX 77019
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    • $540,000
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      Houston Home Near River Oaks

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    • $995,000
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      Downtown Views at The Allen

      Luxury residence with hotel amenities and downtown views.
      1711 Allen Pkwy, Houston, TX 77019
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    • $1,960,000

      Luxurious Condo with Premium Finishes

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    Similar Nearby for Lease

    • $2 SF/Yr
      15,000 SF

      Office Space Available For Rent

      15,000 square feet of office space for lease.
      138 Gray St, Houston, TX 77019
      View Details
    • Contact for pricing
      33,443 SF

      West Gray Office & Retail Spaces

      Prime Houston Office/Retail, Multiple Suites Available
      0 Gray St. & Woodhead St, Houston, TX 77019
      View Details
    • $32 SF/Yr
      10,663 SF

      River Oaks Executive Suites

      Prime Houston Office Space Available
      2121 San Felipe St, Houston, TX 77019
      View Details
    • $24 SF/Yr
      10,394 SF

      River Oaks Executive Suites

      Prestigious Houston office space available
      2120 Welch St, Houston, TX 77019
      View Details
    • $31 SF/Yr
      4,100 SF

      Midtown Single Tenant Office Building

      Two-story office building in Midtown near Buffalo Bayou Park.
      3501 Allen Pkwy, Houston, TX 77019
      View Details
    • $31 SF/Yr
      506 SF

      Office Space Available For Rent

      Office space available for lease, approximately 506 square feet.
      2001 Kirby Dr, Houston, TX 77019
      View Details
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    1717 Shepherd Dr
    Houston, TX 77019
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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
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