Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8119 Miller Road 3 Houston, TX 77049
    Back to Search
    Property profile & analytics

    8119 Miller Road 3, Houston, TX 77049

    View on Map
    • Land
    • 534,045 SF
    • 12.26 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Griffin Trade Group LP / Factory / Production Facility

    Property Details for 8119 Miller Road 3

    Lot size
    12.26 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.1587
    Latitude
    29.8441

    Comparable in this City

    • Value Estimation by Request
      1.19 Acres

      10402 Vrana Rd

      Land
      10402 Vrana Rd, Houston, TX 77049
      View Details
    • Value Estimation by Request
      3.00 Acres

      7009 Gregdale Rd

      Land
      7009 Gregdale Rd, Houston, TX 77049
      View Details
    • Value Estimation by Request
      15.48 Acres

      18003 Van Rd

      Land
      18003 Van Rd, Houston, TX 77049
      View Details
    • Value Estimation by Request
      7.00 Acres

      7803 Uvalde Rd

      Land
      7803 Uvalde Rd, Houston, TX 77049
      View Details
    • Value Estimation by Request

      10222 Sheldon Rd

      INDUSTRIAL (GENERAL)
      10222 Sheldon Rd, Houston, TX 77049-1250
      View Details
    • Value Estimation by Request
      34.19 Acres

      8280 Sheldon Rd

      INDUSTRIAL (GENERAL)
      8280 Sheldon Rd, Houston, TX 77049
      View Details

    Similar Nearby for Sale

    • $125,000

      Land with Redevelopment Potential

      Expansive lot with existing structure awaiting transformation.
      12914 Gladden Dr, Houston, TX 77049
      View Details
    • $340,000

      Land for Sale in Houston

      Two properties totaling over an acre available for purchase.
      19315 Rio Villa Dr, Houston, TX 77049
      View Details
    • Contact for pricing

      Land For Sale Houston

      Land available for sale in Houston, Texas.
      New Hwy, Houston, TX 77049
      View Details
    • $125,000

      Land with Redevelopment Potential

      Expansive lot with existing structure, ideal for redevelopment.
      12914 Gladden Dr, Houston, TX 77049
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      21 SF

      Land Available For Lease

      Land available for lease in Houston, Texas.
      15406 Beaumont Hwy, Houston, TX 77049
      View Details
    • Contact for pricing

      Stabilized Yard with Metal Building

      8.25-acre stabilized yard with 1,000 SF metal building for rent.
      9803 Sheldon Rd, Houston, TX 77049
      View Details
    • Contact for pricing

      Industrial Land with Mobile Office

      4-acre industrial property with frontage on Hwy 90.
      20218 Crosby Fwy, Houston, TX 77049
      View Details
    • Contact for pricing

      NorthPoint 90 Logistics Center

      Class A business park in Northeast Houston for lease.
      13220 Crosby Fwy, Houston, TX 77049
      View Details
    • Contact for pricing
      5,000 SF

      Houston Flex Space with Warehouse

      Flex space featuring office and warehouse components in Houston, TX.
      5821 W Sam Houston Pkwy N, Houston, TX 77049
      View Details
    • Contact for pricing
      711,000 SF

      Northeast Houston Logistics Center

      Class A distribution and warehouse space available for lease.
      US-90 Frontage, Houston, TX 77049
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8119 Miller Road 3
    Houston, TX 77049
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    8119 Miller Road 3, Houston, TX, 77049
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!