Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    2832 Bartell Dr Houston, TX 77054

    Property Lookup

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

    2832 Bartell Dr Houston, TX 77054

    View on Map
    • Commercial real estate
    • 9,059 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Geisha Fitness / Gym & Fitness Center

    Property Details for 2832 Bartell Dr

    Year built
    1983
    Property size
    9,059 SF
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a portfolio of thirteen condos totaling 9,059 square feet, situated in a prime Houston location at 2832 S Bartell Dr, Houston, TX 77054. Built in 1983, this Class C multifamily property boasts a strong 6.68% cap rate and a current Net Operating Income (NOI) of $56,631. The property features eleven buildings across three stories, with 100% occupancy and many long-term tenants. This value-add investment is ideally positioned near the Texas Medical Center, NRG Stadium, and Meyerland shopping, benefiting from the significant foot traffic and economic activity of these areas. The location offers easy access to Highway 610, providing convenient transportation throughout the city. The property's land value is $93.61 per square foot. The asking price for the entire portfolio is $848,000. Individual unit purchases may also be considered. This presents a unique chance to capitalize on the growth potential of Houston's thriving medical and entertainment sectors, within an opportunity zone. The property's proximity to the world's largest medical center and NRG Stadium, which attracts over 5.6 million visitors annually, ensures consistent rental income and long-term appreciation potential.

    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
    -95.4216
    Latitude
    29.6813

    Comparable in this City

    • Value Estimation
      $595,000
      15,516 SF

      2401 Westridge St, Unit 312

      GARDEN APT, COURT APT (5+ UNITS) • 15,516 SF
      2401 Westridge St, Houston, TX 77054-1577
      View Details
    • Value Estimation
      $750,000
      15,168 SF

      9111 Lks At 610th Dr, Unit 344

      GARDEN APT, COURT APT (5+ UNITS) • 15,168 SF
      9111 Lks At 610th Dr, Houston, TX 77054-2405
      View Details
    • Value Estimation
      $670,000
      16,712 SF

      9955 Buffalo Speedway, Unit 320

      GARDEN APT, COURT APT (5+ UNITS) • 16,712 SF
      9955 Buffalo Speedway, Houston, TX 77054-1316
      View Details
    • Value Estimation by Request
      6,900 SF

      2501 Westridge St, Unit 256

      GARDEN APT, COURT APT (5+ UNITS) • 6,900 SF
      2501 Westridge St, Houston, TX 77054-1519
      View Details
    • Value Estimation
      $2,350,000
      303,068 SF

      1333 Old Spanish Trl, Unit 293

      HIGH-RISE APARTMENTS • 303,068 SF
      1333 Old Spanish Trl, Houston, TX 77054-1849
      View Details
    • Value Estimation
      $2,015,000
      249,158 SF

      7110 Ardmore St, Unit 326

      HIGH-RISE APARTMENTS • 249,158 SF
      7110 Ardmore St, Houston, TX 77054-0006
      View Details

    Similar Nearby for Lease

    • $1,550 /Mo

      Remodeled Apartment Near NRG Stadium

      Completely remodeled 2-bedroom apartment with stadium view in desirable location.
      8423 Hearth Dr, Houston, TX 77054
      View Details
    • $18 SF/Yr
      1,451 SF

      North Loop Office Space Available

      Office space for rent in the North Loop sub-market.
      1445 Loop N, Houston, TX 77054
      View Details
    • Contact for pricing
      5,855 SF

      28,252 SF Flex Space

      One-story flex space near the Texas Medical Center.
      8285 El Rio St, Houston, TX 77054
      View Details
    • Contact for pricing
      105,000 SF

      Office Building with On-Site Management

      Office building featuring atrium, conferencing, and on-site management.
      2656 S Loop Fwy W, Houston, TX 77054
      View Details
    • Contact for pricing

      Retail Space in Mixed-Use Development

      Ground-level retail spaces in a mixed-use development.
      1333 Old Spanish Trl, Houston, TX 77054
      View Details
    • Contact for pricing

      Medical Office Building Development

      New medical office building development on Woman’s Hospital of Texas campus.
      7500 Fannin St, Houston, TX 77054
      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.
    2832 Bartell Dr
    Houston, TX 77054
    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

    2832 Bartell Dr, Houston, TX, 77054

    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!