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    I-45 Fwy Houston, TX 77007

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    I-45 Fwy Houston, TX 77007

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    • Warehouses

    Property Details for I-45 Fwy

    Property type
    Warehouses
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 50-acre property in Houston, Harris County, Texas (zip code 77007), offers a unique blend of retail and industrial opportunities. Located on I-45 Freeway N with frontage on Greenbriar St./I-45 and access to FM 1375, it boasts outstanding visibility and accessibility for both northbound and southbound traffic. The site features a newly constructed roundabout, enhancing access to the burgeoning New Waverly Station development, which will add approximately 1,600 new homes. This strategic location positions the property at the heart of New Waverly's expanding retail corridor. The 2,181,049 square foot site is available for ground lease and is ideal for large-scale tenants seeking a prime location in a rapidly growing market. The front portion is perfect for large-format retail development, while the rear 22 acres are well-suited for industrial development, including warehouses, storage facilities, or an office park. The property benefits from excellent elevation and slope for superior drainage. Owners are prepared to collaborate on development, constructing buildings to suit tenant needs. This presents an amazing opportunity for retail developers and big-box tenants seeking a prominent presence in this dynamic market.

    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
    -95.4965
    Latitude
    30.5337

    Comparable in this City

    • Value Estimation by Request
      9,910 SF

      651 Shepherd Dr

      Manufacturing properties • 9,910 SF
      651 Shepherd Dr, Houston, TX 77007
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    • Value Estimation
      $1,430,000
      75,680 SF

      2521 Ctr St

      DISTRIBUTION WAREHOUSE • 75,680 SF
      2521 Ctr St, Houston, TX 77007-6007
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    • Value Estimation
      $2,740,000
      25,607 SF

      1600 Studemont St

      DISTRIBUTION WAREHOUSE • 25,607 SF
      1600 Studemont St, Houston, TX 77007-3825
      View Details
    • Value Estimation
      $8,590,000
      138,684 SF

      600 6th St

      DISTRIBUTION WAREHOUSE • 138,684 SF
      600 6th St, Houston, TX 77007-2422
      View Details
    • Value Estimation
      $2,280,000
      38,712 SF

      500 Shepherd Dr

      DISTRIBUTION WAREHOUSE • 38,712 SF
      500 Shepherd Dr, Houston, TX 77007-1347
      View Details
    • Value Estimation
      $1,450,000
      20,000 SF

      701 6th 12th St

      DISTRIBUTION WAREHOUSE • 20,000 SF
      701 6th 12th St, Houston, TX 77007-1703
      View Details

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      56,834 SF

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      1,245 SF

      Retail Space on Shepherd Drive

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      39,574 SF

      Houston Industrial Property for Sale

      Industrial property available for sale in Houston, Texas.
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    Similar Nearby for Lease

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      Houston Heights Flex Space Available

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      Warehouse with Office Space

      Warehouse space available for lease, includes office and dock doors.
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      Versatile Flex Space in Houston Heights

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      1903 Spring St, Houston, TX 77007

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      2,115 SF

      Restaurant Space in Prime Location

      Turn-key restaurant space available for lease in a high-traffic area.
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      Retail/Restaurant Space For Lease

      Retail and restaurant spaces available for lease.
      700 Durham Dr, Houston, TX 77007
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    I-45 Fwy
    Houston, TX 77007
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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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