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    Property profile & analytics

    1303 Gears Rd, Unit 440 Houston, TX 77067-4207

    • Garden apartment buildings
    • 13,914 SF
    • 14.97 lot acres
    OFF-MARKET
    Value Estimations
    $1,380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1505640
    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

    • Driscoll Place / Condominium Complex / Condominium Rental Agency
    • Baby Sitter / High School
    • d'Escola Glass Solutions / Hardware & Home Improvement / Interior Design
    • GMF Funding / Loan Service / Bank

    Property Details for 1303 Gears Rd

    Year built
    1983
    Construction
    FRAME
    Lot size
    14.97 lot acres
    Property size
    13,914 SF
    Property type
    Garden apartment buildings
    APN
    1150260000009
    APU
    1150260000009

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,304,000
      Market price range: $456k - $1.30M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $870,000
      Current use
      COMMERCIAL (GENERAL)
      $2,250,000
      Change: +159% Conversion: Moderate
      RESTAURANT
      $1,405,000
      Change: +62% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,300,000
      Change: +49% Conversion: Difficult
      OFFICE BUILDING
      $970,000
      Change: +11% Conversion: Moderate
      MEDICAL BUILDING
      $890,000
      Change: +2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4396
    Latitude
    29.9452
    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
    $306,910
    $2,935,202
    $23,314,314
    $26,249,516
    -
    $2,935,202
    $23,314,314
    $26,249,516

    Comparable in this City

    • Value Estimation
      $1,335,000
      13,680 SF

      13503 Northborough Dr, Unit 168

      GARDEN APT, COURT APT (5+ UNITS) • 13,680 SF
      13503 Northborough Dr, Houston, TX 77067-1719
      View Details
    • Value Estimation
      $1,665,000
      16,544 SF

      13333 Northborough Dr, Unit 170

      GARDEN APT, COURT APT (5+ UNITS) • 16,544 SF
      13333 Northborough Dr, Houston, TX 77067-1735
      View Details
    • Value Estimation
      $1,590,000
      16,914 SF

      1325 Grns Pkwy, Unit 96

      GARDEN APT, COURT APT (5+ UNITS) • 16,914 SF
      1325 Grns Pkwy, Houston, TX 77067-4135
      View Details
    • Value Estimation
      $3,175,000
      33,906 SF

      1350 Grns Pkwy, Unit 362

      GARDEN APT, COURT APT (5+ UNITS) • 33,906 SF
      1350 Grns Pkwy, Houston, TX 77067-4136
      View Details
    • Value Estimation
      $660,000
      6,496 SF

      13030 Northborough Dr, Unit 202

      GARDEN APT, COURT APT (5+ UNITS) • 6,496 SF
      13030 Northborough Dr, Houston, TX 77067-2530
      View Details
    • Value Estimation
      $1,240,000
      12,112 SF

      12335 Antoine Dr, Unit 224

      GARDEN APT, COURT APT (5+ UNITS) • 12,112 SF
      12335 Antoine Dr, Houston, TX 77067-1032
      View Details

    Similar Nearby for Sale

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      Houston Commercial Land - 4.8 Acres

      Prime Houston land, unrestricted use.
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      Prime Land for Development

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      Houston Commercial Land - 56 Acres

      Prime Houston acreage, exceptional development potential.
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    • $2,096,785

      Retail Investment Opportunity in Houston

      Retail property with national tenants, offering stable income and upside.
      12296 Veterans Memorial Dr, Houston, TX 77067
      View Details
    • $1,100,000

      Land Available in Houston, TX

      Land for sale at 11921 Veterans Memorial Dr, Houston, TX.
      11921 Veterans Memorial Dr, Houston, TX 77067
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr

      Former Day Care Facility Available

      5,024 SF former day care with two play areas.
      3435 Spears Rd, Houston, TX 77067
      View Details
    • Contact for pricing
      32,400 SF

      Prime Houston Retail Space

      Two-story retail building, ±150 parking spaces
      251 Greens Rd, Houston, TX 77067
      View Details
    • Contact for pricing
      4,347 SF

      Retail Space Available For Lease

      Retail space available for lease in Houston, TX.
      351-403 Greens Rd, Houston, TX 77067
      View Details
    • Contact for pricing
      598,950 SF

      Prime Corner Pad Site Available

      13.75-acre pad site for sale or ground lease.
      Spears Rd, Houston, TX 77067
      View Details
    • Contact for pricing

      Restaurant Space on Veterans Memorial

      Prime restaurant space in high-traffic Houston location.
      10811 Veterans Memorial Dr, Houston, TX 77067
      View Details
    • Contact for pricing
      6,500 SF

      Prime Retail Space, Move-In Ready

      Spacious retail shell, ample parking, 2023 renovation.
      430 Greens Rd, Houston, TX 77067
      View Details
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    Houston, TX 77067-4207
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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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