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    1324 N Shepherd Dr Houston, TX 77008

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    1324 N Shepherd Dr Houston, TX 77008

    View on Map
    • Strip malls
    • 30,456 SF
    • 1.12 lot acres
    For Sale
    $14,500,000
    View Listing →
    Houston Heights Mixed-Use Property For Sale
    $14,500,000
    23,895 SF

    Houston Heights Mixed-Use Property

    Mixed-use property in Houston Heights with significant growth potential.

    1324 N Shepherd Dr, Houston, TX 77008
    View Listing
    Property ID
    US82-3870698
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • YogaSix Heights / Gym & Fitness Center
    • Swish Dental Houston Heights / Dental Office
    • Defined Brow Co. / Hair Salon
    • Le Beau / Hair Salon
    • Top Care Emergency Room & Urgent ER Care - Heights Houston / Hospital

    Property Details for 1324 N Shepherd Dr

    Year built
    2020
    Construction
    METAL FRAME
    Lot size
    1.12 lot acres
    Property size
    30,456 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    1407190010001
    APU
    1407190010001

    Description

    Heights Forum offers a fantastic retail opportunity in Houston's vibrant Heights neighborhood. This newly developed, two-story retail center at 1324 N Shepherd Dr, Houston, TX 77008, boasts a total of 24,476 square feet, with a single available space of 2,189 contiguous square feet. The minimum divisible space is 1,920 square feet, providing flexibility for various retail concepts. Situated in the InnerLoop/Heights submarket of Harris County, this property benefits from a high-density population

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $910,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,421,000
      Market price range: $627k - $1.80M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,285,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4097
    Latitude
    29.7951
    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
    $113,457
    $4,899,200
    $5,535,173
    $10,434,373
    -
    $4,899,200
    $5,535,173
    $10,434,373

    Comparable in this City

    • Value Estimation
      $1,050,000
      4,900 SF

      718 18th St

      SHOPPING CENTER, STRIP CENTER • 4,900 SF
      718 18th St, Houston, TX 77008-3530
      View Details
    • Value Estimation
      $1,600,000
      122,150 SF

      1431 20th St

      SHOPPING CENTER, STRIP CENTER • 122,150 SF
      1431 20th St, Houston, TX 77008-2931
      View Details
    • Value Estimation by Request
      5,712 SF

      1150 25th St, Unit 7

      SHOPPING CENTER, STRIP CENTER • 5,712 SF
      1150 25th St, Houston, TX 77008-1830
      View Details
    • Value Estimation
      $600,000
      12,854 SF

      506 19th St

      SHOPPING CENTER, STRIP CENTER • 12,854 SF
      506 19th St, Houston, TX 77008-3612
      View Details
    • Value Estimation
      $1,190,000
      25,863 SF

      1533 Shepherd Dr

      SHOPPING CENTER, STRIP CENTER • 25,863 SF
      1533 Shepherd Dr, Houston, TX 77008-4177
      View Details
    • Value Estimation by Request
      5,200 SF

      518 11th St

      SHOPPING CENTER, STRIP CENTER • 5,200 SF
      518 11th St, Houston, TX 77008-5201
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,000 SF

      Retail Asset in Houston Heights

      14,000 SF retail condominium in a mixed-use development.
      1111 Studewood St, Houston, TX 77008
      View Details
    • Contact for pricing
      23,895 SF

      Houston Heights Mixed-Use Property

      Mixed-use property in Houston Heights with significant growth potential.
      1324 N Shepherd Dr, Houston, TX 77008
      View Details
    • $1,240,000

      Mixed-Use Property in Houston Heights

      Partially constructed mixed-use property in Houston Heights district.
      1211 N Durham Dr, Houston, TX 77008
      View Details
    • Contact for pricing
      31,000 SF

      Inner Loop Land for Redevelopment

      Prime land tract suitable for redevelopment or owner-operator.
      8101 Hempstead Rd, Houston, TX 77008
      View Details
    • Contact for pricing
      8,400 SF

      Greater Heights Area Commercial Building

      Commercial building in the heart of the Greater Heights area.
      777 W 23Rd St, Houston, TX 77008
      View Details
    • $2,400,000

      Land with Auto Repair Shop

      19,650 SF lot with 3,750 SF metal warehouse.
      1701 N Durham Dr, Houston, TX 77008
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      19,144 SF

      Houston Heights Retail Space

      Prime Houston retail, 3,084 sq ft available
      238 19Th St, Houston, TX 77008
      View Details
    • Contact for pricing

      Prime Corner Site for Lease

      Corner site suitable for QSR or coffee shop in Houston.
      1600 W 18Th St, Houston, TX 77008
      View Details
    • Contact for pricing

      Freestanding Building in The Heights

      Freestanding building with ample parking in Houston's The Heights.
      743 E 11Th St, Houston, TX 77008
      View Details
    • Contact for pricing

      Built-Out Hair Salon Space

      Second generation hair salon available for rent.
      1955 W T C Jester Blvd, Houston, TX 77008
      View Details
    • Contact for pricing

      Heights Mixed-Use Development For Rent

      New mixed-use development in the Heights with office and retail.
      1903 Yale St, Houston, TX 77008
      View Details
    • Contact for pricing
      1,917 SF

      Prime Corner Retail Opportunity

      Freestanding building in Lazybrook/Timbergrove near vibrant Heights District.
      1600 W 18Th St, Houston, TX 77008
      View Details
    View Listing
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    Houston, TX 77008
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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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