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    Gray St. & Woodhead St Houston, TX 77019

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    Gray St. & Woodhead St Houston, TX 77019

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    • Retail properties & Spaces
    • 33,443 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Gray St. & Woodhead St

    Property size
    33,443 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional Houston property offers a unique blend of office and retail spaces, ideally situated on West Gray. The portfolio comprises three buildings totaling 33,443 square feet, presenting multiple tenancy opportunities. One building is a freestanding office building with an attached parking ramp, providing ample parking for tenants and visitors. Another building houses a newly constructed Chase Bank, indicating a strong and desirable location. The third building is a two-story office building featuring convenient surface parking and excellent signage visibility along West Gray, enhancing brand exposure. Flexible space options are available, ranging from a minimum of 147 square feet to a maximum contiguous space of 9,105 square feet, catering to diverse business needs. Currently, there are 15,931 square feet of vacant space across the three buildings, divided among four total suites. This presents a compelling opportunity for businesses seeking high-visibility locations in a thriving Harris County market. The property's diverse configuration and flexible space options make it suitable for a variety of businesses, from small executive offices to larger retail operations. The combination of convenient amenities, prime location, and adaptable spaces makes this an attractive investment 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
    -95.4052
    Latitude
    29.7527

    Comparable in this City

    • Value Estimation
      $2,055,000
      15,730 SF

      1905 Gray St

      RETAIL STORES (PERSONAL SERVICES) • 15,730 SF
      1905 Gray St, Houston, TX 77019-4801
      View Details
    • Value Estimation
      $905,000
      6,956 SF

      1015 Gray St

      RETAIL STORES (PERSONAL SERVICES) • 6,956 SF
      1015 Gray St, Houston, TX 77019-4227
      View Details
    • Value Estimation
      $820,000
      6,420 SF

      1409 Montrose Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,420 SF
      1409 Montrose Blvd, Houston, TX 77019-4235
      View Details
    • Value Estimation
      $690,000
      12,368 SF

      805 Rhode Pl

      RETAIL STORES (PERSONAL SERVICES) • 12,368 SF
      805 Rhode Pl, Houston, TX 77019-2700
      View Details
    • Value Estimation by Request
      6,468 SF

      1809 Gray St

      RETAIL STORES (PERSONAL SERVICES) • 6,468 SF
      1809 Gray St, Houston, TX 77019-4906
      View Details
    • Value Estimation by Request
      3,612 SF

      320 Gray St

      RETAIL STORES (PERSONAL SERVICES) • 3,612 SF
      320 Gray St, Houston, TX 77019-4441
      View Details

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      Freestanding Office Building and Parking

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      Retail Space Available for Lease

      Retail space for lease at 1705 W Gray St, Houston.
      1705 W Gray St, Houston, TX 77019
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    Houston, TX 77019
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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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