Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    902 Oak St Houston, TX 77018

    Property Lookup

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

    902 Oak St Houston, TX 77018

    View on Map
    • Land
    • 1.16 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Whispering Oaks Apartments / Apartment Building

    Property Details for 902 Oak St

    Lot size
    1.16 lot acres
    Property type
    Land
    Property subtype
    Apartment buildings

    Description

    This exceptional 1.16-acre property, located at 902 Oak St in Houston, Texas (zip code 77018), presents a compelling redevelopment opportunity. Currently zoned for multifamily use, this 100% vacant lot offers significant potential for the construction of townhomes or garden-style apartments. Situated in the up-and-coming Lowell Heights neighborhood, just west of North Shepherd and adjacent to the desirable Garden Oaks District, this property benefits from a prime location with excellent growth prospects. The asking price is $2,650,000. The property's size and location make it an ideal investment for developers seeking to capitalize on the increasing demand for housing in this rapidly developing area of Harris County. The site's vacant status allows for complete design flexibility, enabling the creation of a modern and highly desirable residential community. This is a rare chance to acquire a substantial land parcel in a thriving Houston neighborhood, offering significant long-term investment potential. The property is classified as multifamily and land. This is a price-reduced offering, presenting an even more attractive investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4146
    Latitude
    29.8358

    Comparable in this City

    • Value Estimation by Request
      1,320 SF

      3415 Oak Frst Dr, Unit 6

      APARTMENT HOUSE (5+ UNITS) • 1,320 SF
      3415 Oak Frst Dr, Houston, TX 77018-6142
      View Details
    • Value Estimation by Request
      2,424 SF

      920 Martin St, Unit 4

      APARTMENT HOUSE (5+ UNITS) • 2,424 SF
      920 Martin St, Houston, TX 77018-2147
      View Details
    • Value Estimation by Request
      14,288 SF

      302 Marathon St, Unit 18

      APARTMENT HOUSE (5+ UNITS) • 14,288 SF
      302 Marathon St, Houston, TX 77018-6635
      View Details
    • Value Estimation by Request
      1,200 SF

      218 44th St, Unit 8

      APARTMENT HOUSE (5+ UNITS) • 1,200 SF
      218 44th St, Houston, TX 77018-5729
      View Details
    • Value Estimation by Request
      1,748 SF

      220 33rd St, Unit 4

      APARTMENT HOUSE (5+ UNITS) • 1,748 SF
      220 33rd St, Houston, TX 77018-7714
      View Details
    • Value Estimation by Request
      2,820 SF

      419 33rd St, Unit 4

      APARTMENT HOUSE (5+ UNITS) • 2,820 SF
      419 33rd St, Houston, TX 77018-7757
      View Details

    Similar Nearby for Sale

    • $299,000

      Land For Sale

      Over 8,000 square foot lot available.
      227 East 38Th St, Houston, TX 77018
      View Details
    • $449,700

      Land Available on W T C Jester

      Land for sale located on W T C Jester Boulevard.
      2818 W T C Jester Blvd, Houston, TX 77018
      View Details
    • Contact for pricing

      2.13 Acres Infill Land Opportunity

      2.13 acres of infill land with multiple access points.
      2220 W 34Th St, Houston, TX 77018
      View Details
    • $99,900

      Vacant Lot in Independence Heights

      Vacant lot in appreciating area with easy access to highways.
      316 East 37Th St, Houston, TX 77018
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Garden Oaks Retail End Cap

      Renovated retail space in Garden Oaks with ample parking.
      1203 W 34Th St, Houston, TX 77018
      View Details
    • Contact for pricing
      55,646 SF

      Office Property on Loop 610

      Class B office campus with convenient highway access.
      2040 N Loop Fwy W, Houston, TX 77018
      View Details
    • Contact for pricing

      Industrial Space For Rent

      Industrial space available for single tenant occupancy.
      5301 Polk St, Houston, TX 77018
      View Details
    • Contact for pricing
      1,820 SF

      Houston Flex Space For Rent

      Flex space available in Houston with easy highway access.
      4500-4560 W 34Th St, Houston, TX 77018
      View Details
    • Contact for pricing
      26,232 SF

      Garden Oaks Warehouse Space Available

      Warehouse space with freeway access near Loop 610 & I-45.
      428 Garden Oaks Blvd, Houston, TX 77018
      View Details
    • Contact for pricing

      Industrial Property for Lease

      Industrial property available for lease in Houston, Texas.
      3500 East T C Jester Blvd, Houston, TX 77018
      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.
    902 Oak St
    Houston, TX 77018
    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

    902 Oak St, Houston, TX, 77018

    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!