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    Property profile & analytics

    1002 Westheimer Rd Houston, TX 77006

    • Drive through restaurants
    • 3,698 SF
    • 0.72 lot acres
    For Lease
    View listing
    Value Estimations
    $555,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4038705
    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

    • Shake Shack Montrose / American Restaurant / Catering Food And Drink Supplier

    Property Details for 1002 Westheimer Rd

    Year built
    2018
    Construction
    METAL FRAME
    Lot size
    0.72 lot acres
    Property size
    3,698 SF
    Property type
    Drive through restaurants
    APN
    1400550010001
    APU
    1400550010001

    Description

    This exceptional 3,400 square foot former restaurant presents a unique opportunity for a savvy investor or business owner. Built in 2019, the single-story building sits on a sizable 0.72-acre lot, offering ample space for both indoor and outdoor operations. The property boasts 40 parking spaces, a significant advantage in a high-traffic area. Its strategic location at the corner of Westheimer Road and Lincoln Street, just one block west of Montrose Boulevard, ensures high visibility and accessibility. The high volume of daily traffic on both Westheimer Road (18,228 vehicles) and Montrose Boulevard (30,836 vehicles) guarantees substantial foot traffic and brand exposure. The building features a convenient walk-up window, adding to its operational flexibility. Furthermore, the property includes a generous patio area, both in the front and back, ideal for outdoor dining or additional seating. The entire 3,400 square feet is currently vacant, providing a blank canvas for a new tenant to customize and create their ideal space. This property is ready for immediate occupancy and offers significant potential for a variety of retail uses. The combination of location, size, parking, and outdoor space makes this a truly remarkable opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $565,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $541,000
      Market price range: $256k - $541k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $400,000
      Current use
      COMMERCIAL (GENERAL)
      $525,000
      Change: +32% Conversion: Easy
      AUTO REPAIR, GARAGE
      $345,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3921
    Latitude
    29.7451
    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
    $93,162
    $3,137,200
    $1,489,590
    $4,626,790
    -
    $3,137,200
    $1,489,590
    $4,626,790

    Comparable in this City

    • Value Estimation
      $335,000
      2,106 SF

      1525 Westheimer Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,106 SF
      1525 Westheimer Rd, Houston, TX 77006-3735
      View Details
    • Value Estimation
      $405,000
      1,500 SF

      223 Westheimer Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,500 SF
      223 Westheimer Rd, Houston, TX 77006-3221
      View Details
    • Value Estimation
      $650,000
      4,125 SF

      1302 Westheimer Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,125 SF
      1302 Westheimer Rd, Houston, TX 77006-2615
      View Details
    • Value Estimation
      $275,000
      920 SF

      2703 Montrose Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 920 SF
      2703 Montrose Blvd, Houston, TX 77006-2732
      View Details
    • Value Estimation
      $330,000
      1,350 SF

      1018 Westheimer Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,350 SF
      1018 Westheimer Rd, Houston, TX 77006-2725
      View Details
    • Value Estimation
      $290,000
      1,519 SF

      1225 Westheimer Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,519 SF
      1225 Westheimer Rd, Houston, TX 77006-2612
      View Details

    Similar Nearby for Sale

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      Midtown Property Near Restaurants, Shopping

      Midtown property near restaurants and shopping available for sale.
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      Historic Montrose Manor on Westheimer

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      Mixed-Use Building in Montrose

      Income-producing commercial building with apartments and retail in Houston.
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    • Contact for pricing
      14,000 SF

      Retail Property Near Galleria Mall

      Retail space near Houston's Galleria Mall with high traffic.
      5116 Westheimer Rd, Houston, TX 77006
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      Montrose Multifamily Home For Sale

      Multi-family home in Montrose area with 4 bedrooms/bathrooms.
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    Similar Nearby for Lease

    • Contact for pricing
      3,400 SF

      Restaurant Space with Patio

      Restaurant space with large front and back patio.
      1002 Westheimer Rd, Houston, TX 77006
      View Details
    • $25 SF/Yr
      9,900 SF

      Midtown Office Space For Lease

      Modern, divisible office suites in prime location
      3310 Travis St, Houston, TX 77006
      View Details
    • Contact for pricing
      4,000 SF

      Westheimer Road Retail Space

      Prime Houston Retail, 4,000 SF
      208 Westheimer Rd, Houston, TX 77006
      View Details
    • Contact for pricing
      27,820 SF

      Montrose Retail Space Available

      Retail space in the heart of Montrose with patio opportunities.
      1001 Westheimer Rd, Houston, TX 77006
      View Details
    • $18 SF/Yr
      13,891 SF

      Retail Space on Richmond Avenue

      Retail property available for lease on Richmond Avenue.
      5800 Richmond Ave, Houston, TX 77006
      View Details
    • $37 SF/Yr
      2,127 SF

      Retail Space For Rent

      Retail space available for lease in Houston, Texas.
      2600 Travis St, Houston, TX 77006
      View Details
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    1002 Westheimer Rd
    Houston, TX 77006
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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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