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    Property profile & analytics

    1215 43rd St Houston, TX 77018-4203

    • Drug stores
    • 16,045 SF
    • 1.70 lot acres
    OFF-MARKET
    Last Sale
    Dec 07, 2023
    Value Estimations
    $1,170,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-4208473
    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

    • COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
    • Walgreens / Pharmacy
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Western Union / Bank / Credit Union
    • LibertyX Bitcoin ATM / Atm

    Property Details for 1215 43rd St

    Year built
    2001
    Construction
    BRICK
    Lot size
    1.70 lot acres
    Property size
    16,045 SF
    Property type
    Drug stores
    APN
    730990010032
    APU
    730990010032

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $795,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,542,000
      Market price range: $730k - $2.01M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,275,000
      Current use
      RESTAURANT
      $1,865,000
      Change: +46% Conversion: Easy
      OFFICE BUILDING
      $1,115,000
      Change: -13% Conversion: Easy
      MEDICAL BUILDING
      $1,025,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4305
    Latitude
    29.8278
    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
    $79,870
    $2,588,145
    $1,462,230
    $4,050,375
    -
    $2,588,145
    $1,462,230
    $4,050,375

    Comparable in this City

    • Value Estimation
      $1,730,000
      14,369 SF

      4150 Shepherd Dr

      DRUG STORE, PHARMACY • 14,369 SF
      4150 Shepherd Dr, Houston, TX 77018-5513
      View Details
    • Value Estimation
      $1,160,000
      9,362 SF

      1717 34th St

      RETAIL STORES (PERSONAL SERVICES) • 9,362 SF
      1717 34th St, Houston, TX 77018-6256
      View Details
    • Value Estimation by Request
      3,955 SF

      1350 43rd St

      FINANCIAL BUILDING • 3,955 SF
      1350 43rd St, Houston, TX 77018-4206
      View Details
    • Value Estimation by Request
      5,188 SF

      3017 Durham Dr

      RETAIL STORES (PERSONAL SERVICES) • 5,188 SF
      3017 Durham Dr, Houston, TX 77018-8338
      View Details
    • Value Estimation
      $540,000
      6,792 SF

      2317 34th St

      RETAIL STORES (PERSONAL SERVICES) • 6,792 SF
      2317 34th St, Houston, TX 77018-6006
      View Details
    • Value Estimation by Request
      4,742 SF

      1805 43rd St

      CONVENIENCE STORE (W/FUEL PUMP) • 4,742 SF
      1805 43rd St, Houston, TX 77018-3005
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      23,132 SF

      Houston Pharmacy Sale-Leaseback

      High-Growth Area, 23,132 SF Pharmacy
      3831 Golf Dr, Houston, TX 77018
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    • $2,866,633
      5,300 SF

      Prime Heights Retail Redevelopment Opportunity

      Houston C-Store & Restaurant, Vacant
      2012 34Th St, Houston, TX 77018
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    • $599,900
      1,728 SF

      Former Grocery Store Opportunity

      Turnkey grocery store opportunity in a prime location.
      300 E Crosstimbers St, Houston, TX 77018
      View Details
    • $675,000

      Prime Location Auto Detailing Shop

      High-traffic corner location suitable for various commercial uses.
      4423 Yale St, Houston, TX 77018
      View Details
    • $1,400,000

      Prime Corner Commercial Lot

      High-traffic corner lot ideal for drive-thru, coffee shop, or retail.
      3527 Ella Blvd, Houston, TX 77018
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    • $2,000,000

      Auto Parts Facility For Sale

      Auto parts facility with covered storage and open paved area.
      3506 Oak Forest Dr, Houston, TX 77018
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    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Houston Heights Retail Space

      Prime 1,000 SF Storefront Available
      1737 34Th St, Houston, TX 77018
      View Details
    • Contact for pricing
      22,000 SF

      Ella Oaks Phase II Retail Center

      New Houston Retail Space - 22,000 SF
      1805 34Th St, Houston, TX 77018
      View Details
    • $40 SF/Yr
      8,000 SF

      Garden Oaks Retail Space Available

      Prime Houston retail space, flexible layouts.
      1203 34Th St, Houston, TX 77018
      View Details
    • Contact for pricing
      26,232 SF

      Garden Oaks Warehouse Space Available

      Warehouse space with freeway access near Loop 610 & I-45.
      428 Garden Oaks Blvd, Houston, TX 77018
      View Details
    • Contact for pricing

      Industrial Property for Lease

      Industrial property available for lease in Houston, Texas.
      3500 East T C Jester Blvd, Houston, TX 77018
      View Details
    • Contact for pricing
      1,820 SF

      Houston Flex Space For Rent

      Flex space available in Houston with easy highway access.
      4500-4560 W 34Th St, Houston, TX 77018
      View Details
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    1215 43rd St
    Houston, TX 77018-4203
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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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