Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4802 Martin Luther King Blvd Houston, TX 77021

    • Retail properties
    • 17,432 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Nehemiah Commumity Church / Baptist Church
    • Galore Life / Hair Extensions Supplier

    Property Details for 4802 Martin Luther King Blvd

    Property size
    17,432 SF
    Property type
    Retail properties

    Description

    MLK Plaza, located at 4802 Martin Luther King Blvd in Houston, Texas, 77021, offers a prime retail opportunity in a vibrant neighborhood shopping center near the University of Houston. This single-story, Class C building totals 17,432 square feet and features ten suites. Currently, there are 8,942 square feet of vacant space available, divisible into units ranging from a minimum of 1,350 square feet to a maximum contiguous space of 4,150 square feet. The property is situated on Martin Luther King Blvd and crosses Old Spanish Trail, providing excellent visibility and accessibility. The building does not have elevators. Property taxes are $1.68 per square foot. This presents a unique chance to establish or expand a retail presence in a high-traffic area of Harris County. The flexible space options cater to a variety of retail businesses, making it an ideal investment for entrepreneurs and established companies alike. The proximity to the University of Houston ensures a consistent flow of potential customers. Serious inquiries are encouraged to explore this exceptional retail opportunity.

    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
    -95.336
    Latitude
    29.7082

    Comparable in this City

    • Value Estimation
      $605,000
      17,610 SF

      3922 Old Spanish Trl

      SHOPPING CENTER, STRIP CENTER • 17,610 SF
      3922 Old Spanish Trl, Houston, TX 77021-1425
      View Details
    • Value Estimation
      $665,000
      18,323 SF

      5910 Scott St

      SHOPPING CENTER, STRIP CENTER • 18,323 SF
      5910 Scott St, Houston, TX 77021-1457
      View Details
    • Value Estimation
      $410,000
      12,240 SF

      5939 Scott St

      SHOPPING CENTER, STRIP CENTER • 12,240 SF
      5939 Scott St, Houston, TX 77021-1420
      View Details
    • Value Estimation
      $330,000
      1,800 SF

      6212 Tierwester St, Unit 1

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      6212 Tierwester St, Houston, TX 77021-1314
      View Details
    • Value Estimation
      $790,000
      31,516 SF

      5670 Cullen Blvd

      SHOPPING CENTER, STRIP CENTER • 31,516 SF
      5670 Cullen Blvd, Houston, TX 77021
      View Details
    • Value Estimation by Request
      2,800 SF

      6320 New York St

      AUTO REPAIR, GARAGE • 2,800 SF
      6320 New York St, Houston, TX 77021-3918
      View Details

    Similar Nearby for Sale

    • $2,850,000
      1.00 Acre

      Houston Retail Portfolio: Prime Dixie Drive Location

      High-yield retail investment opportunity in Houston, TX.
      3343 Dixie Dr, Houston, TX 77021
      View Details
    • $154,000

      Inner-Loop Land Near Medical Center

      Land near Texas Medical Center, UH, TSU, and Downtown Houston.
      4902 Marietta Ln, Houston, TX 77021
      View Details
    • $60,000

      Residential Lot in Houston

      Prime 1,425 sq ft residential lot near downtown Houston.
      4510 Ward St, Houston, TX 77021
      View Details
    • $225,000

      Land Parcel Near Highway 288

      Land parcel suitable for investment or development near Highway 288.
      3339 Kilgore St, Houston, TX 77021
      View Details
    • $619,900

      New Duplex in Inner Loop

      New duplex in prime location, ideal for owner-occupancy.
      3438 Rebecca St, Houston, TX 77021
      View Details
    • $141,500

      Cleared Lot Ready for Construction

      Cleared land available for new construction.
      3533 Lydia St, Houston, TX 77021
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      276,000 SF

      Village at Palm Center Office Suites

      Houston, TX Office Space Available
      5110 Griggs Rd, Houston, TX 77021
      View Details
    • $10 SF/Yr
      18,381 SF

      Houston Medical & Creative Office Space

      Prime Houston location, two suites available.
      6102 Scott St, Houston, TX 77021
      View Details
    • $15 SF/Yr
      10,000 SF

      Houston Auto Sales Complex

      Large Auto Sales Facility, 144k SF Available
      6522 Cullen Blvd, Houston, TX 77021
      View Details
    • $28 SF/Yr
      1,850 SF

      Retail Space on Old Spanish Trail

      Retail space available for lease in Houston, Texas.
      3636 Old Spanish Trl, Houston, TX 77021
      View Details
    • $19 SF/Yr
      1,200 SF

      Retail Space on Old Spanish Trail

      Retail space available for lease on Old Spanish Trail.
      3922 Old Spanish Trl, Houston, TX 77021
      View Details
    • Contact for pricing
      2,017 SF

      Retail/Flex Space Available For Rent

      Retail/flex space with private restroom and glass storefront.
      7505-7563 South Fwy, Houston, TX 77021
      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.
    4802 Martin Luther King Blvd
    Houston, TX 77021
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.