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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Interstate 45 Houston, TX 77090

    • Lifestyle centers
    • 58,460 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 0 Interstate 45

    Property size
    58,460 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    The Gardens Center, a Class B retail shopping center in Houston, Texas, offers a prime location at the southwest corner of Interstate 45 North Freeway and Barren Springs Drive. This single-story center boasts excellent freeway visibility and accessibility, making it an ideal location for a variety of retail businesses. The total building size is 58,460 square feet, with a minimum divisible space of 3,000 square feet and a maximum contiguous space of 3,783 square feet currently available. There are 6,783 square feet of vacant space ready for immediate occupancy. The property sits on a 42,656 square foot lot and provides ample parking with 542 spaces. The center does not have elevators. This is a multi-tenant property offering a great opportunity for businesses seeking high traffic exposure in a bustling Houston location. The zip code is 77090. Interested parties should note that the available space is up to 3,000 square feet.

    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
    -95.4244
    Latitude
    29.9891

    Comparable in this City

    • Value Estimation by Request
      6,624 SF

      527 Barren Springs Dr

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      14,741 SF

      535 Airtex Dr

      Lifestyle centers • 14,741 SF
      535 Airtex Dr, Houston, TX 77090
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    • Value Estimation by Request
      98,436 SF

      2189 Farm To Market 1960 Rd

      Neighborhood centers • 98,436 SF
      2189 Farm To Market 1960 Rd, Houston, TX 77090
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    • Value Estimation by Request
      119,638 SF

      211 Farm To Market 1960 Rd

      Neighborhood centers • 119,638 SF
      211 Farm To Market 1960 Rd, Houston, TX 77090
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    • Value Estimation
      $1,110,000
      158,413 SF

      2224 Cypress Crk Pkwy

      MINI-MALL • 158,413 SF
      2224 Cypress Crk Pkwy, Houston, TX 77090-3106
      View Details
    • Value Estimation
      $650,000
      98,588 SF

      344 Cypress Crk Pkwy

      MINI-MALL • 98,588 SF
      344 Cypress Crk Pkwy, Houston, TX 77090-3518
      View Details

    Similar Nearby for Sale

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      4.35 Acres

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      1.50 Acres

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    • $3,253,692
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    Similar Nearby for Lease

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      Houston Retail Center Investment Opportunity

      37,000 SF Retail Center, 1.18 Acres
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      31,680 SF

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      Prime Houston location, ample parking.
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      96,865 SF

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      Houston Retail Space: 2,040 - 21,600 SF Available
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    • $20 SF/Yr
      6,624 SF

      Houston Retail Center - Barren Springs

      7-Suite Retail Center, Excellent Location
      527 Barren Springs Dr, Houston, TX 77090
      View Details
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    Interstate 45
    Houston, TX 77090
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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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