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

    1002 Gemini St Houston, TX 77058-2746

    • Office buildings
    • 53,732 SF
    • 3.92 lot acres
    OFF-MARKET
    Value Estimations
    $750,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3321392
    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

    • 1002 Gemini Interests / Real Estate Agency
    • Dr. Woodrow Coppedge / Physician
    • Bloom Counseling / Family Counselor / Counselor
    • The Toman Agency: Allstate Insurance / Insurance Agency
    • NEMR8 LLC / Advertising Agency / Marketing & Advertising

    Property Details for 1002 Gemini St

    Year built
    1967
    Construction
    BRICK
    Lot size
    3.92 lot acres
    Property size
    53,732 SF
    Property type
    Office buildings
    APN
    990300000001
    APU
    990300000001

    Description

    The Gemini Building, located at 1002 Gemini St, Houston, TX 77058, offers 200-23,525 square feet of flexible office and medical space in a 46,650 square foot, two-story building. This Class B property, built in 1967 and renovated in 1989, features a variety of configurations ideal for various businesses. Available spaces include a 7,500 sq ft former psychiatry clinic, a 3,000 sq ft former medical billing center, a 2,000 sq ft space previously occupied by a home healthcare/hospice company, and a 3,500 sq ft space with seven individual offices and a conference room. Additionally, there's 4,000 sq ft of contiguous space on the second floor, plus over 25,000 sq ft of contiguous space and over 30 individual executive office spaces. The building boasts ample natural light, 373 surface parking spaces, controlled access, and an on-site property manager. The building's location benefits from heavy daytime vehicle traffic originating from the nearby medical center and legal services. In-house renovations and space modifications are available at low cost, and utilities are included in competitive rates with tenant allowances. The typical floor size is 23,325 sq ft, with an unfinished ceiling height of 11 feet. This property is perfect for medical practices, law firms, accounting firms, back-office clerical operations, training centers, and insurance companies.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $485,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,012,000
      Market price range: $752k - $4.68M

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.1151
    Latitude
    29.5528
    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
    $23,298
    $1,707,550
    $1,107,573
    $2,815,123
    -
    $1,707,550
    $1,107,573
    $2,815,123

    Comparable in this City

    • Value Estimation
      $1,670,000
      119,980 SF

      2100 Spc Park Dr

      OFFICE BUILDING • 119,980 SF
      2100 Spc Park Dr, Houston, TX 77058-3693
      View Details
    • Value Estimation
      $1,440,000
      66,804 SF

      1290 Hercules Ave

      OFFICE BUILDING • 66,804 SF
      1290 Hercules Ave, Houston, TX 77058-2726
      View Details
    • Value Estimation
      $1,830,000
      128,040 SF

      2525 Bay Area Blvd, Unit 325

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 128,040 SF
      2525 Bay Area Blvd, Houston, TX 77058-1558
      View Details
    • Value Estimation by Request
      6,324 SF

      1325 Spc Park Dr

      OFFICE BUILDING • 6,324 SF
      1325 Spc Park Dr, Houston, TX 77058-3459
      View Details
    • Value Estimation
      $1,255,000
      61,866 SF

      1331 Gemini St

      OFFICE BUILDING • 61,866 SF
      1331 Gemini St, Houston, TX 77058-2745
      View Details
    • Value Estimation
      $1,895,000
      48,588 SF

      15755 Middlebrook Dr

      OFFICE BUILDING • 48,588 SF
      15755 Middlebrook Dr, Houston, TX 77058
      View Details

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      Freestanding Office Building in Houston

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    Similar Nearby for Lease

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      Office suites available in close proximity to NASA.
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      Class A Office Space Available

      Premier Class A office building in Clear Lake marketplace.
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      Houston Office Building with Fiber

      Office building with fiber connectivity, ideal for telecom or call centers.
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      Gemini II Medical Office Building

      40,038 SF Medical Office, Great Location
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      View Details
    • $3 SF/Yr
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      Houston Office Space for Lease

      Flexible Workspaces, Prime Location
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      View Details
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    1002 Gemini St
    Houston, TX 77058-2746
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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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