Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    1619 Texas Pkwy Missouri City, TX 77489

    • Commercial real estate
    • 4,500 SF
    • 0.58 lot acres
    For Sale
    View listing
    $1,350,000
    Last Sale
    Feb 27, 2025
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2402120
    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

    • Summit Nail / Nail Salon
    • Alvo The Barber / Barber Shop
    • Q2 foot massage / Massage Spa
    • Direct Discount Furniture & Mattress / Mattress Store / Office Furniture Store
    • C B Financial Services / Bank / Atm

    Property Details for 1619 Texas Pkwy

    Year built
    2002
    Lot size
    0.58 lot acres
    Property size
    4,500 SF
    Zone code
    X
    Property type
    Commercial real estate
    APN
    0264-00-000-0124-907
    APU
    264000000124907

    Description

    This exceptional 4,500 square foot retail strip center presents a compelling investment opportunity in the thriving Missouri City, Texas market. Located on the high-traffic Texas Parkway, this fully leased Class C property boasts four tenants, including one with a 10-year lease, ensuring consistent income. Built in 1997 on a 0.58-acre lot, the property benefits from its prime location adjacent to a newly constructed Discount Tire and directly across from the Houston Community College Missouri City campus, guaranteeing high visibility and foot traffic. Currently operating at 100% occupancy, the property generates a strong NOI of $74,640, with a pro-forma NOI projected at $79,735, and a potential to reach $97,000 by 2025. Below-market rents offer significant upside potential for future income growth. The property's strategic location within a rapidly expanding area, surrounded by new residential and commercial developments, further enhances its long-term value. This unique investment opportunity, with no comparable properties within a 10-mile radius, is offered at $1,350,000, representing a 5.53% cap rate and a pro-forma cap rate of 5.91%. Seller financing is available with a down payment exceeding 50% and a low interest rate. The property's strong tenant base, prime location, and significant growth potential make it an ideal addition to any investment portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $596,000
      Market price range: $155k - $596k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $370,000
      Current use
      OFFICE BUILDING
      $625,000
      Change: +70% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Missouri City
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.5265
    Latitude
    29.6042
    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
    2023
    $11,168
    $89,368
    $847,555
    $936,923
    -
    $89,368
    $847,555
    $936,923

    Comparable in this City

    • Value Estimation by Request
      1.31 Acres

      Gessner Rd

      Land • 1.31 Acres
      0 Gessner Rd, Missouri City, TX 77489
      View Details
    • Value Estimation
      $555,000
      4.37 Acres

      9011 Sam Houston W Pkwy

      COMMERCIAL (GENERAL) • 4.37 Acres
      9011 Sam Houston W Pkwy, Missouri City, TX 77489-1047
      View Details
    • Value Estimation
      $330,000
      2.53 Acres

      12714 Settemont Rd

      COMMERCIAL (GENERAL) • 2.53 Acres
      12714 Settemont Rd, Missouri City, TX 77489-8012
      View Details
    • Value Estimation
      $625,000
      4.86 Acres

      631 Hwy 90th A A

      COMMERCIAL (GENERAL) • 4.86 Acres
      631 Hwy 90th A A, Missouri City, TX 77489-1333
      View Details
    • Value Estimation
      $340,000
      0.59 Acres

      15023 Fondren Rd

      COMMERCIAL (GENERAL) • 0.59 Acres
      15023 Fondren Rd, Missouri City, TX 77489-1535
      View Details
    • Value Estimation
      $185,000
      3.10 Acres

      7900 Fuqua Dr

      COMMERCIAL (GENERAL) • 3.10 Acres
      7900 Fuqua Dr, Missouri City, TX 77489
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.50 Acres

      Parkway Crossing Pad Site

      Prime Commercial Land, Missouri City
      0 Nwc Of Lk Olympia Pkwy & Vicksburg Blvd, Missouri City, TX 77489
      View Details
    • $4,500,000
      10.00 Acres

      Prime 10-Acre Commercial Land

      Missouri City, TX development opportunity.
      1930 Cartwright Rd, Missouri City, TX 77489
      View Details
    • $3,900,000
      9.00 Acres

      Missouri City Land - $3.9M

      Prime Texas land, build-to-suit, near tollway.
      3789 Farm-To-Market Rd 2234, Missouri City, TX 77489
      View Details
    • $1,150,000
      1.31 Acres

      Missouri City Commercial Land Investment

      1.31 Acres, Prime Location, $1.15M
      0 Gessner Rd, Missouri City, TX 77489
      View Details
    • Contact for pricing
      0.50 Acres

      Missouri City Commercial Land

      0.5-acre lot, prime Texas Parkway location.
      1705 Texas Pkwy, Missouri City, TX 77489
      View Details
    • $5,500,000

      Highway 90A Commercial Property

      Commercial property with multiple buildings and vacant land for sale.
      2007 Highway 90 A, Missouri City, TX 77489
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      60,983 SF

      Texas Parkway Medical Office Space

      Missouri City medical office suites available.
      1701-1799 Texas Pkwy, Missouri City, TX 77489
      View Details
    • $21 SF/Yr
      1,250 SF

      Missouri City Retail Space for Lease

      Prime Retail Space, High Traffic Area, 2,903 SF Available
      2755 Texas Pkwy, Missouri City, TX 77489
      View Details
    • $32 SF/Yr
      17,357 SF

      Lake Olympia Retail Center

      Missouri City, TX Strip Center - Spaces Available
      1021 Lake Olympia Pkwy, Missouri City, TX 77489
      View Details
    • Contact for pricing
      249,370 SF

      New Class A Distribution Building

      Proposed 249,370 SF Class A distribution building for lease.
      Cravens Rd, Missouri City, TX 77489
      View Details
    • $25 SF/Yr
      6,000 SF

      Missouri City Retail Space for Lease

      Prime Texas Parkway location, 2,280 sq ft available.
      2240 Texas Pkwy, Missouri City, TX 77489
      View Details
    • Contact for pricing
      900 SF

      Retail Space in Hunter’s Square

      Retail space with high visibility and ample parking.
      1901-1975 Texas Pkwy, Missouri City, TX 77489
      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.
    1619 Texas Pkwy
    Missouri City, TX 77489
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.