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    1318 Avenue A South Houston, TX 77587
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    1318 Avenue A, South Houston, TX 77587

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    • Apartment buildings
    • 55,974 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1318 Avenue A

    Year built
    2020
    Property type
    Apartment buildings

    Description

    This exceptional 42-unit apartment building, located at 1318 Avenue A in South Houston, Texas, presents a compelling investment opportunity. Constructed in 2020, the property boasts a 96% occupancy rate as of September 3, 2024, generating a strong in-place cash flow with a 6.70% cap rate. The six, two-story buildings encompass 55,974 square feet, with 37,625 square feet of net rentable space. The property features 100 parking spaces and comprises 42 units

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    South Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.2138
    Latitude
    29.6663

    Comparable in this City

    • Value Estimation by Request
      4,080 SF

      1201 Dumont St, Unit 16

      APARTMENT HOUSE (5+ UNITS)
      1201 Dumont St, South Houston, TX 77587-3401
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    • Value Estimation by Request
      1,825 SF

      716 Kolb Rd, Unit 10

      APARTMENT HOUSE (5+ UNITS)
      716 Kolb Rd, South Houston, TX 77587-3520
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      5.35 Acres

      801 Allen-Genoa Rd

      Multifamily properties
      801 Allen-Genoa Rd, South Houston, TX 77587
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    • Value Estimation by Request
      13,440 SF

      611 Kansas St, Unit 15

      APARTMENT HOUSE (5+ UNITS)
      611 Kansas St, South Houston, TX 77587-3100
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    • Value Estimation by Request
      3,598 SF

      816 Nebraska St, Unit 6

      APARTMENT HOUSE (5+ UNITS)
      816 Nebraska St, South Houston, TX 77587-3149
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    • Value Estimation by Request
      6,000 SF

      815 Kentucky St, Unit 8

      APARTMENT HOUSE (5+ UNITS)
      815 Kentucky St, South Houston, TX 77587-3270
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      38,930 SF

      Modern Multifamily Asset in Houston

      2020 construction, 97% occupancy, improving operations, seller financing available.
      1318 Avenue A, South Houston, TX 77587
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    • $500,000

      South Houston Industrial Warehouse

      4,000 SF insulated building near I-45 and Hobby Airport.
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      38,500 SF

      Industrial Opportunity in South Houston

      38,500 SqFt industrial property on 1.42 acres for sale.
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      3,750 SF

      South Houston Industrial Portfolio

      Three-property industrial portfolio in South Houston totaling ±10,860 SF.
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    Similar Nearby for Lease

    • Contact for pricing
      29,492 SF

      Retail Space on Spencer Highway

      Retail property available for lease on Spencer Highway.
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      View Details
    • $9 SF/Yr

      South Houston Building For Lease

      Lease includes recent updates and corner location.
      813 Dumont St, South Houston, TX 77587
      View Details
    • Contact for pricing

      Functional Industrial Facility in South Houston

      9,340 SF industrial facility on 1.3 acres for lease.
      1502 Galveston St, South Houston, TX 77587
      View Details
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    1318 Avenue A
    South Houston, TX 77587
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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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