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

    11994 Richmond Ave Houston, TX 77082-6827

    • Drug stores
    • 14,195 SF
    • 1.57 lot acres
    OFF-MARKET
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4864431
    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

    • Walgreens Pharmacy / Pharmacy
    • Shalonda Gates / Nurse Practitioner / Registered General Nurse
    • Coinhub Bitcoin ATM Teller / Atm
    • Walgreens / Beauty Supply Store / Convenience Store
    • LibertyX Bitcoin ATM / Atm

    Property Details for 11994 Richmond Ave

    Year built
    2003
    Construction
    STEEL FRAME
    Lot size
    1.57 lot acres
    Property size
    14,195 SF
    Property type
    Drug stores
    APN
    1238430010002
    APU
    1238430010002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $450,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $602,000
      Market price range: $148k - $602k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $450,000
      Current use
      WAREHOUSE, STORAGE
      $660,000
      Change: +46% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $435,000
      Change: -3% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.5888
    Latitude
    29.7317
    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
    $28,822
    $1,026,750
    $1,572,474
    $2,599,224
    -
    $1,026,750
    $1,572,474
    $2,599,224

    Comparable in this City

    • Value Estimation
      $500,000
      13,380 SF

      14606 Richmond Ave

      DRUG STORE, PHARMACY • 13,380 SF
      14606 Richmond Ave, Houston, TX 77082-1513
      View Details
    • Value Estimation
      $460,000
      13,074 SF

      12585 Richmond Ave

      DRUG STORE, PHARMACY • 13,074 SF
      12585 Richmond Ave, Houston, TX 77082-2487
      View Details
    • Value Estimation
      $550,000
      27,480 SF

      15015 Westheimer Pkwy Ste D1

      RETAIL STORES (PERSONAL SERVICES) • 27,480 SF
      15015 Westheimer Pkwy Ste D1, Houston, TX 77082-1677
      View Details
    • Value Estimation
      $295,000
      6,375 SF

      2650 Hwy 6th S

      RETAIL STORES (PERSONAL SERVICES) • 6,375 SF
      2650 Hwy 6th S, Houston, TX 77082-1704
      View Details
    • Value Estimation
      $375,000
      8,540 SF

      13155 Alief Clodine Rd

      CONVENIENCE STORE (W/FUEL PUMP) • 8,540 SF
      13155 Alief Clodine Rd, Houston, TX 77082-5484
      View Details
    • Value Estimation
      $280,000
      8,075 SF

      14502 Richmond Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,075 SF
      14502 Richmond Ave, Houston, TX 77082-1725
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,014 SF

      Westheimer Road Retail Opportunity

      Retail property for sale on Westheimer Road in Houston.
      17225 Westheimer Rd, Houston, TX 77082
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      9,600 SF

      Houston Retail Center Investment

      High-traffic retail space, excellent location.
      2808 State Highway 6, Houston, TX 77082
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    • $1,300,000
      1.02 Acres

      Houston Car Wash Business Opportunity

      Full-service car wash in a high-traffic Houston location.
      12573 Richmond Ave, Houston, TX 77082
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    • $6,500,000
      1.39 Acres

      New Car Wash on Highway

      Newly built express car wash on high-traffic Houston corridor.
      3703 Highway 6 S, Houston, TX 77082
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      5,658 SF

      Highway 6 South Auto Shop

      Turnkey Auto Shop, High Traffic Area
      4004 Texas 6, Houston, TX 77082
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    • Contact for pricing
      9,600 SF

      Retail Property in Houston, TX

      9,600 SF retail property available in Houston, Texas.
      2808 Highway 6 S, Houston, TX 77082
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      2,520 SF

      Retail Space Available For Lease

      2520 square feet of retail space for lease.
      2825 S Kirkwood Rd, Houston, TX 77082
      View Details
    • Contact for pricing
      15,275 SF

      Royal Oaks Medical/Creative Office Space

      15,275 SF, 2 spaces available, prime location.
      12002 Richmond Ave, Houston, TX 77082
      View Details
    • $24 SF/Yr
      6,834 SF

      Retail Space Available For Lease

      Retail space available for lease with 6,834 square feet.
      2650 Highway 6 S, Houston, TX 77082
      View Details
    • $28 SF/Yr
      1,600 SF

      Retail Space Available For Lease

      Retail space for lease with 1,600 square feet.
      2830-2838 Highway 6 S, Houston, TX 77082
      View Details
    • Contact for pricing
      1,282 SF

      Royal Oaks Square Retail Space

      Houston Retail Space: 1,282 sq ft Available
      12001 Richmond Ave, Houston, TX 77082
      View Details
    • Contact for pricing
      6,572 SF

      Westheimer Oaks Plaza Retail Space

      Prime West Houston Retail/Office Opportunity
      15300 Westheimer Rd, Houston, TX 77082
      View Details
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    Houston, TX 77082-6827
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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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