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    14938 Richmond Ave Houston, TX 77082
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    14938 Richmond Ave Houston, TX 77082

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    • Land
    • 4.20 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 14938 Richmond Ave

    Lot size
    4.20 lot acres
    Property type
    Land

    Description

    This exceptional 4.2-acre commercial land parcel presents a unique investment opportunity in Houston, Texas. Strategically located at 14938 Richmond Ave., 77082, this property enjoys a highly visible position near the intersection of Westheimer Road and Richmond Avenue, benefiting from significant daily traffic flow. The site's prime location is further enhanced by its proximity to a robust retail environment anchored by West Oaks Mall, a major shopping destination. Nearby established businesses include Dillards, Sears, Palais Royal, Home Depot, Fortis College, and Regal Edwards Cinema, creating a strong and diverse commercial ecosystem. The property's zoning allows for a variety of uses, including medical facilities, office buildings, hospitality ventures, and entertainment establishments, providing considerable flexibility for developers and investors. This exceptional location and versatile zoning make this 4.2-acre parcel an ideal platform for a wide range of commercial developments, promising significant returns in a thriving Houston market. The property is currently available for lease. Harris County location provides access to a large and diverse population base.

    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
    -95.6525
    Latitude
    29.7319

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    Similar Nearby for Sale

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      4.2 Acres of Land Available

      Two tracts of land totaling approximately 4.2 acres for sale.
      14938 Richmond Ave, Houston, TX 77082
      View Details
    • Contact for pricing

      Richmond Avenue Commercial Land Available

      Approximately 4.2 acres of commercial land for sale or lease.
      14938 Richmond Ave, Houston, TX 77082
      View Details
    • Contact for pricing

      Westheimer Road Vacant Land Parcel

      0.844 acre vacant land with frontage on Westheimer Road.
      13977 Westheimer Rd, Houston, TX 77082
      View Details
    • $750,000

      Commercial Land Ready For Project

      Commercial land with high traffic, ready for immediate occupancy.
      3007 S Dairy Ashford Rd, Houston, TX 77082
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    Similar Nearby for Lease

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      28,000 SF

      Commercial Land for Lease

      Commercial land available for lease, approximately 0.66 acres.
      16116 Westpark Dr, Houston, TX 77082
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      Commercial Land for Ground Lease

      0.66 AC land for lease, utilities available, not floodplain.
      16116 Westpark Dr, Houston, TX 77082
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      13,146 SF

      Richmond Avenue Office Space

      Office space available for rent on Richmond Avenue, Houston.
      11300 Richmond Ave, Houston, TX 77082
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      Westpark Crossing Retail Space

      High-visibility retail space available in Westpark Crossing strip center.
      3711-3715 State Highway 6 South, Houston, TX 77082
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      Retail Space Near West Oaks

      Retail space with high visibility and ample parking available for lease.
      16205 Westheimer Ave, Houston, TX 77082
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      Retail Space for Lease

      Retail space available for lease in Houston, Texas.
      2673 S Texas 6, Houston, TX 77082
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    14938 Richmond Ave
    Houston, TX 77082
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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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