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    Property profile & analytics

    Kirby Dr. & Old Spanish Trl Houston, TX 77054

    • Retail properties
    • 251,972 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 0 Kirby Dr. & Old Spanish Trl

    Property size
    251,972 SF
    Property type
    Retail properties

    Description

    The Shops at Three Corners offers exceptional retail space in Houston, Texas, situated at the high-traffic intersection of Kirby Drive, Old Spanish Trail, and Main Street. This well-established shopping center boasts a total of 251,972 square feet and features prominent anchors including Ross, Fiesta, and PetSmart. The center's strategic location directly across from NRG Stadium ensures significant daily foot traffic and visibility. Currently, there are two available spaces, ranging from a minimum of 1,200 square feet to a maximum contiguous space of 1,547 square feet, totaling 2,747 square feet of vacant space. The property provides ample parking with 1,347 spaces available for customers and employees. Located in Harris County, with a zip code of 77054, this center benefits from a large daytime workforce due to its proximity to the Medical Center. This prime location offers unparalleled access to a diverse customer base, making it an ideal opportunity for businesses seeking high visibility and strong sales potential. The property is situated in a thriving commercial area, offering excellent potential for growth and return on investment. Interested parties 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
    -95.4137
    Latitude
    29.691

    Comparable in this City

    • Value Estimation
      $1,080,000
      12,571 SF

      1727 Old Spanish Trl

      RESTAURANT • 12,571 SF
      1727 Old Spanish Trl, Houston, TX 77054-1909
      View Details
    • Value Estimation
      $525,000
      5,213 SF

      2802 Old Spanish Trl

      GAS STATION • 5,213 SF
      2802 Old Spanish Trl, Houston, TX 77054-2208
      View Details
    • Value Estimation by Request
      238,450 SF

      7600 Fannin St

      PARKING GARAGE, PARKING STRUCTURE • 238,450 SF
      7600 Fannin St, Houston, TX 77054-1906
      View Details
    • Value Estimation
      $655,000
      22,540 SF

      2110 Holly Hall St

      SHOPPING CENTER, STRIP CENTER • 22,540 SF
      2110 Holly Hall St, Houston, TX 77054-3900
      View Details
    • Value Estimation by Request
      3,568 SF

      1620 Loop W Loop

      CONVENIENCE STORE (W/FUEL PUMP) • 3,568 SF
      1620 Loop W Loop, Houston, TX 77054-4815
      View Details
    • Value Estimation
      $510,000
      9,711 SF

      2660 Ss W Loop

      RESTAURANT • 9,711 SF
      2660 Ss W Loop, Houston, TX 77054
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Prime Houston development opportunity. Unrestricted land, ideal for mixed-use.
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    Similar Nearby for Lease

    • Contact for pricing
      251,972 SF

      Shops at Three Corners: Houston Retail

      High-traffic retail space, Houston, TX.
      0 Kirby Dr. & Old Spanish Trl, Houston, TX 77054
      View Details
    • $30 SF/Yr
      3,063 SF

      Domain at Kirby Retail Space

      Prime Houston Retail, 3,063 SF Available
      1333 Old Spanish Trl, Houston, TX 77054
      View Details
    • Contact for pricing
      28,252 SF

      Houston Flex Space For Lease

      Prime Harris County industrial space available.
      8285 El Rio St, Houston, TX 77054
      View Details
    • $1,295 /Mo
      907 SF

      Condo in Gated Community

      Charming condo with remodeled kitchen, balcony, and community amenities.
      2300 Old Spanish Trl, Houston, TX 77054
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    • $18 SF/Yr
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      North Loop Office Space Available

      Office space for rent in the North Loop sub-market.
      1445 Loop N, Houston, TX 77054
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    • $25 SF/Yr
      95,322 SF

      Class A Office Building

      Premier office building with modern amenities and convenient highway access.
      2550 Loop N, Houston, TX 77054
      View Details
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    Houston, TX 77054
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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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