Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    12850 Memorial Dr Houston, TX 77024

    Property Lookup

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

    12850 Memorial Dr Houston, TX 77024

    View on Map
    • Power centers
    • 30,291 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Alexis McCarty, REALTOR / Real Estate Agency
    • Chico's / Clothing & Fashion Store
    • francesca's / Clothing & Fashion Store
    • Williams-Sonoma / (Bike/Boat/Book/etc) Store / Kitchen & Bath Showroom
    • Trudy's Hallmark Shop / (Bike/Boat/Book/etc) Store / Party Supply Store

    Property Details for 12850 Memorial Dr

    Property size
    30,291 SF
    Property type
    Power centers
    Property subtype
    Retail properties & Spaces

    Description

    Town & Country Village, a well-established retail power center in Houston, Texas, presents a unique investment opportunity. Located at 12850 Memorial Drive, 77024, in Harris County, this property boasts a total of 30,291 square feet across nine suites. Currently, there is significant vacancy totaling 28,331 square feet, offering substantial potential for new tenants. The minimum divisible space is 1,205 square feet, ideal for smaller businesses, while larger tenants can occupy up to 7,615 contiguous square feet. This versatile space caters to a range of retail needs. The property sits on a 0.02-acre lot and has been a successful retail destination in West Houston for over four decades, establishing a strong presence within the community. This prime location offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking to establish or expand their presence in a thriving market. The property's long-standing success speaks to its strategic location and enduring appeal. This is an exceptional opportunity to acquire a significant retail presence in a high-traffic area of Houston.

    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
    -95.5604
    Latitude
    29.774

    Comparable in this City

    • Value Estimation by Request
      66,316 SF

      788 Sam Houston Pkwy

      Lifestyle centers • 66,316 SF
      788 Sam Houston Pkwy, Houston, TX 77024
      View Details
    • Value Estimation
      $3,330,000
      254,800 SF

      900 Memorial City Way

      DEPARTMENT STORE • 254,800 SF
      900 Memorial City Way, Houston, TX 77024-2507
      View Details
    • Value Estimation by Request
      3,934 SF

      788 Sam Houston Pkwy

      Retail properties & Spaces • 3,934 SF
      788 Sam Houston Pkwy, Houston, TX 77024
      View Details
    • Value Estimation
      $2,080,000
      147,089 SF

      656 Barryknoll Ln

      DEPARTMENT STORE • 147,089 SF
      656 Barryknoll Ln, Houston, TX 77024
      View Details
    • Value Estimation
      $3,860,000
      299,261 SF

      Katy Fwy

      DEPARTMENT STORE • 299,261 SF
      Katy Fwy, Houston, TX 77024
      View Details
    • Value Estimation
      $1,195,000
      128,965 SF

      7600 Katy Fwy

      MINI-MALL • 128,965 SF
      7600 Katy Fwy, Houston, TX 77024
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Houston, Texas.
      12525 Memorial Dr, Houston, TX 77024
      View Details
    • Contact for pricing
      6,925 SF

      Retail Space with High Visibility

      Retail space with high visibility and easy highway access.
      3800-3890 S Gessner Rd, Houston, TX 77024
      View Details
    • Contact for pricing
      1,500 SF

      Established Retail Hub For Sale

      Vibrant retail center with reputable tenants in desirable location.
      14501-14509 Memorial Dr, Houston, TX 77024
      View Details
    • $33 SF/Yr

      Town & Country Office Space

      Office and retail spaces available for lease in Houston.
      10497 Town & Country Way, Houston, TX 77024
      View Details
    • Contact for pricing
      1,650 SF

      Retail Space with High Visibility

      Retail spaces available in a densely populated area.
      6002 Antoine Dr, Houston, TX 77024
      View Details
    • Contact for pricing
      6,124 SF

      Retail Space Available For Lease

      Retail space available for lease in Houston, TX.
      5817 Antoine Dr, Houston, TX 77024
      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.
    12850 Memorial Dr
    Houston, TX 77024
    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
    12850 Memorial Dr, Houston, TX, 77024
    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!