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

    1240 Hts Blvd Houston, TX 77008-6918

    • Investment properties
    • 1,564 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Oct 10, 2024
    Value Estimations
    $345,000
    Show details
    Cap Rate Potential
    6.2%
    Investment properties
    Location Intelligence
    Property ID
    US82-1329257
    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

    • Beautopia Skin Studio / Medical Spa / Spa

    Property Details for 1240 Hts Blvd

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.17 lot acres
    Property size
    1,564 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    201830000021
    APU
    201830000021

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $335,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $345,000
      6.5%
      $320,000
      7%
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $393,000
      Market price range: $180k - $456k

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3973
    Latitude
    29.7938
    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
    $4,276
    $675,000
    $125,616
    $800,616
    -
    $675,000
    $125,616
    $800,616

    Comparable in this City

    • Value Estimation
      $595,000
      3,122 SF

      1123 Oxford St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,122 SF
      1123 Oxford St, Houston, TX 77008-7017
      View Details
    • Value Estimation
      $650,000
      6,483 SF

      945 Harvard St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,483 SF
      945 Harvard St, Houston, TX 77008-6934
      View Details
    • Value Estimation
      $400,000
      3,288 SF

      329 21st St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,288 SF
      329 21st St, Houston, TX 77008-2409
      View Details
    • Value Estimation
      $410,000
      1,971 SF

      1126 22nd St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,971 SF
      1126 22nd St, Houston, TX 77008-1806
      View Details
    • Value Estimation
      $550,000
      2,903 SF

      1017 Hts Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,903 SF
      1017 Hts Blvd, Houston, TX 77008-6913
      View Details
    • Value Estimation
      $420,000
      1,612 SF

      1533 Hts Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,612 SF
      1533 Hts Blvd, Houston, TX 77008-4218
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      897,286 SF

      Heights Mixed-Use Development

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      227,819 SF

      Heights Mixed-Use Development Site

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    • $2,700,000
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      Heights Retail Development Site

      Prime Houston location, 16,625 SF lot.
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      23,895 SF

      Heights Forum: Prime Houston Retail

      Mixed-use, 23,895 SF, 8 tenants.
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      0.90 Acres

      Houston Heights Commercial Land

      0.9-acre mixed-use development site
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      2,064 SF

      Heights Duplex Investment Opportunity

      Two 3-bed Houston homes, 100% occupied
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    Similar Nearby for Lease

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      Historic Heights Mixed-Use Property

      Historic mixed-use property in Houston Heights neighborhood.
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    • $28 SF/Yr
      24,476 SF

      Heights Forum Retail Space

      Prime Heights location, 2,189 sq ft available
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      12,850 SF

      Heights Office Suites for Lease

      Modern Heights Offices, Flexible Sizes
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    • $1,395 /Mo
      950 SF

      Heights Boulevard Apartment Available Now

      Two-bedroom apartment on Heights Blvd, immediate availability, complex pool.
      1000 Heights Blvd, Houston, TX 77008
      View Details
    • Contact for pricing
      600 SF

      Retail Space Available For Rent

      Retail space available for lease in Houston, TX.
      3350 E T C Jester Blvd, Houston, TX 77008
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    • Contact for pricing
      10,000 SF

      Heights Retail Opportunity

      Prime Houston location, 10,000 sqft.
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      View Details
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    Houston, TX 77008-6918
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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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