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    16121 Eldridge Pkwy Tomball, TX 77377

    • Strip malls
    • 19,936 SF
    • 1.12 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2896073
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Pristine Duct Cleaning Crew / Air Conditioning Contractor / Air Duct Cleaning Service
    • Cypress Elite Dance / Dance School
    • Print A Deal / Commercial Printer / Professional Services
    • Massage star / Massage Therapist
    • Iron Summit Fitness- 24 Hours / Gym

    Property Details for 16121 Eldridge Pkwy

    Year built
    2004
    Construction
    STEEL FRAME
    Lot size
    1.12 lot acres
    Property size
    19,936 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    1159970060056
    APU
    1159970060056

    Description

    This single-story, Class B medical office building, constructed in 2004, offers a prime retail space totaling 2,432 square feet. Currently, one suite is available for lease within a multi-tenant building. The property boasts excellent visibility and high daytime traffic, thanks to its strategic location. Multiple points of ingress and egress ensure convenient access for patients and staff. The building features ample parking with 68 spaces available. Its location in Harris County provides easy access to major thoroughfares, including Hwy 249 and Spring Cypress Road. The property benefits from its proximity to significant community centers, placing it within one mile of popular retailers such as Walmart, Kroger, Ross, Petco, and HEB. This diverse tenant mix creates a vibrant and thriving commercial environment. The building's design and location make it an ideal space for medical professionals seeking a high-traffic, easily accessible location with convenient parking. The available suite presents a unique opportunity for expansion or relocation within a well-established and successful commercial complex.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tomball
    County
    Harris
    State
    Texas
    Longitude
    -95.6086
    Latitude
    30.0049
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $13,278
    $586,488
    $1,256,251
    $1,842,739
    -
    $586,488
    $1,256,251
    $1,842,739

    Comparable in this City

    • Value Estimation by Request
      12,300 SF

      16949 Eldridge Pkwy

      SHOPPING CENTER, STRIP CENTER • 12,300 SF
      16949 Eldridge Pkwy, Tomball, TX 77377-9086
      View Details
    • Value Estimation
      $780,000
      29,469 SF

      11730 Spg Cypress Rd

      SHOPPING CENTER, STRIP CENTER • 29,469 SF
      11730 Spg Cypress Rd, Tomball, TX 77377-8940
      View Details
    • Value Estimation by Request
      10,170 SF

      11435 Spg Cypress Rd

      SHOPPING CENTER, STRIP CENTER • 10,170 SF
      11435 Spg Cypress Rd, Tomball, TX 77377-6510
      View Details
    • Value Estimation
      $640,000
      15,674 SF

      13730 Alice Rd

      SHOPPING CENTER, STRIP CENTER • 15,674 SF
      13730 Alice Rd, Tomball, TX 77377-6364
      View Details
    • Value Estimation
      $640,000
      20,310 SF

      11690 Spg Cypress Rd

      SHOPPING CENTER, STRIP CENTER • 20,310 SF
      11690 Spg Cypress Rd, Tomball, TX 77377-8937
      View Details
    • Value Estimation by Request
      15,620 SF

      16143 Eldridge Pkwy

      SHOPPING CENTER, STRIP CENTER • 15,620 SF
      16143 Eldridge Pkwy, Tomball, TX 77377-9098
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      141,450 SF

      Tomball Town Center Retail Space

      Retail property at a high-traffic intersection, 96% leased.
      14060 Fm 2920 Rd, Tomball, TX 77377
      View Details
    • $2,023,860
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      Prime Tomball Commercial Land

      4.4 Acres, High-Traffic Location
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    • $140,000
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      Prime Commercial Unit For Sale

      420 sq ft unit ideal for retail or office use.
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    • $1,710,000
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      Lakewood Office Condo Shell Space

      6,000 SF Office Condo, Tomball, TX
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    • $2,200,000
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      Tomball Commercial Land Opportunity

      4-Acre Multi-Use Property in Texas
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    • $1,012,770
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      Tomball Commercial Land - $1M+

      Prime 3-acre development site in Tomball, TX.
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    Similar Nearby for Lease

    • Contact for pricing
      15,165 SF

      Tomball Hwy 249 Retail Warehouse

      Prime Tomball retail/warehouse space.
      23235 Tomball Pkwy, Tomball, TX 77377
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    • $25 SF/Yr
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      Spring Cypress Trails Retail Space

      New Tomball Retail Center - 4,205 SF Available
      11690 Spring Cypress Rd, Tomball, TX 77377
      View Details
    • Contact for pricing
      141,450 SF

      Tomball Retail Center Investment Opportunity

      High-traffic retail space, multiple units available.
      14060 Fm 2920 Rd, Tomball, TX 77377
      View Details
    • $20 SF/Yr
      2,760 SF

      Tomball Office, Retail, Medical Space

      Office, retail, or medical space available for immediate occupancy.
      12111 Spring Cypress Rd, Tomball, TX 77377
      View Details
    • Contact for pricing
      149,065 SF

      Tomball Medical Office Suites

      Prime Tomball location, multiple suites available.
      249 & Lakewood Xing Dr, Tomball, TX 77377
      View Details
    • Contact for pricing
      2,432 SF

      North Eldridge Medical Office Space

      Medical Office Suite - 2,432 SF Available
      16121 Eldridge Pkwy, Tomball, TX 77377
      View Details
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    Tomball, TX 77377
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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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