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    Property profile & analytics

    2302 Main St Waller, TX 77484

    • Commercial real estate
    • 11,500 SF
    • 0.58 lot acres
    For Sale
    View listing
    $2,475,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3817369
    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

    • Bold Fitness / Gym / Fitness Center

    Property Details for 2302 Main St

    Construction
    BRICK
    Lot size
    0.58 lot acres
    Property size
    11,500 SF
    Property type
    Commercial real estate
    APN
    854300-024-003-000
    APU
    854300024003000

    Description

    This exceptional 11,250 square foot multi-tenant storefront property at 2302 Main Street in Waller, Texas, presents a compelling investment opportunity. Located in downtown Waller, adjacent to city hall and the city park, this building boasts a prime location in a rapidly growing community. Constructed in 1935 and recently refurbished, the property currently enjoys 100% occupancy with three established tenants: a gym, a hair salon, and a gutter company. The landlord currently occupies 1,800 square feet on the north end of the building. Beyond the main building, the property includes nearly two full lots totaling 12,426 square feet, providing significant potential for future expansion or development. The strategic location offers easy access to major transportation arteries, including Highway 290, the Grand Parkway, FM 2920, and FM 362, ensuring convenient access to the greater Houston area. This property offers immediate cash flow for investors, while also providing space for a business owner to operate their own enterprise. The asking price is $2,475,000. The property's strong tenant base, prime location, and expansion potential make it an ideal investment in a thriving Texas market. The 77484 zip code further underscores the property's desirability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $570,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $832,000
      Market price range: $644k - $2.15M

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

    Location Insight

    • Map
    • Local Demand
    City
    Waller
    County
    Waller
    State
    Texas
    Longitude
    -95.9252
    Latitude
    30.0572
    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
    2021
    $324,998
    $120,770
    $455,540
    $576,310
    -
    $120,770
    $455,540
    $576,310

    Comparable in this City

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      4.00 Acres

      28750 Farm To Market 2920

      Land • 4.00 Acres
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      30.19 Acres

      39002 Highway 290 Business

      Land • 30.19 Acres
      39002 Highway 290 Business, Waller, TX 77484
      View Details
    • Value Estimation
      $680,000
      4,519 SF

      41409 Cyrus Ln

      COMMERCIAL (GENERAL) • 4,519 SF
      41409 Cyrus Ln, Waller, TX 77484-5446
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    • Value Estimation by Request
      692 SF

      30465 Fm 1488th Rd

      COMMERCIAL (GENERAL) • 692 SF
      30465 Fm 1488th Rd, Waller, TX 77484-5996
      View Details

    Similar Nearby for Sale

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      13.78 Acres

      Waller, TX Commercial Land

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      4.00 Acres

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      63.00 Acres

      63 Acres Waller, TX Development Land

      Prime commercial/industrial/residential land near US 290.
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      26.00 Acres

      Waller County Commercial Land - 26 Acres

      Prime 26-acre tract, ideal commercial development.
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      Prime Waller County Land Investment

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    Similar Nearby for Lease

    • Contact for pricing
      5,495 SF

      Warehouse with Fenced Outside Yard

      5,495 SF warehouse with yard, access to major highways.
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    • $1.15 SF/Yr
      477 SF

      Office Space For Rent

      Office space with open floor plan available for lease.
      2313 Main St, Waller, TX 77484
      View Details
    • $809 /Mo

      Waller Apartment For Rent

      Apartment available for rent in Waller, Texas.
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    • Contact for pricing
      20,525 SF

      Executive Office/Warehouse Space in Waller, TX

      Modern Office & Warehouse, 20,525 SF Available
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      10 SF

      Industrial Space Available For Sale

      Approximately 10,000 square feet of industrial space available for sale.
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      View Details
    • Contact for pricing
      12,000 SF

      Waller Warehouse: 12,000 SF Available

      Spacious Waller warehouse, immediate occupancy.
      41330 Cyrus Rd, Waller, TX 77484
      View Details
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    2302 Main St
    Waller, TX 77484
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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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