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

    15609 Elgin St Channelview, TX 77530-2623

    • Warehouses
    • 5,800 SF
    • 1.06 lot acres
    OFF-MARKET
    Last Sale
    Mar 31, 2023
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1843987
    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

    • Warehouses

    Property Details for 15609 Elgin St

    Year built
    1970
    Construction
    METAL FRAME
    Lot size
    1.06 lot acres
    Property size
    5,800 SF
    Property type
    Warehouses
    APN
    760590060007
    APU
    760590060007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $263,000
      Market price range: $198k - $527k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $370,000
      Current use
      AUTO REPAIR, GARAGE
      $525,000
      Change: +42% Conversion: Easy
      RESTAURANT
      $500,000
      Change: +36% Conversion: Difficult
      RETAIL STORES
      $490,000
      Change: +32% Conversion: Moderate
      MEDICAL BUILDING
      $380,000
      Change: +3% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $360,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Channelview
    County
    Harris
    State
    Texas
    Longitude
    -95.1305
    Latitude
    29.7933
    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
    2023
    $3,867
    $276,282
    $333,040
    $609,322
    -
    $276,282
    $333,040
    $609,322

    Comparable in this City

    • Value Estimation
      $795,000
      54,850 SF

      15938 Bear Byu Dr

      WAREHOUSE, STORAGE • 54,850 SF
      15938 Bear Byu Dr, Channelview, TX 77530-2819
      View Details
    • Value Estimation
      $675,000
      28,664 SF

      15914 De Zavalla Rd

      WAREHOUSE, STORAGE • 28,664 SF
      15914 De Zavalla Rd, Channelview, TX 77530-4528
      View Details
    • Value Estimation
      $775,000
      32,354 SF

      16300 De Zavalla Rd

      WAREHOUSE, STORAGE • 32,354 SF
      16300 De Zavalla Rd, Channelview, TX 77530-4667
      View Details
    • Value Estimation
      $385,000
      18,900 SF

      16230 De Zavalla Rd

      WAREHOUSE, STORAGE • 18,900 SF
      16230 De Zavalla Rd, Channelview, TX 77530-4610
      View Details
    • Value Estimation by Request
      6,000 SF

      16120 Avenue C

      Distribution properties • 6,000 SF
      16120 Avenue C, Channelview, TX 77530
      View Details
    • Value Estimation by Request
      4,430 SF

      15914 Market St

      WAREHOUSE, STORAGE • 4,430 SF
      15914 Market St, Channelview, TX 77530-4510
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      171,373 SF

      Channelview Warehouse For Sale

      171,373 SF Warehouse, Excellent Location
      0 Carpenters Logistics Dr, Channelview, TX 77530
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    • $575,000

      Redevelopment Opportunity on Oversized Lot

      Oversized lot with warehouse, office, and two single-family homes.
      16219 Bear Bayou Dr, Channelview, TX 77530
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    • $725,000
      7,500 SF

      Unrestricted Property with New Warehouse

      1.06-acre property featuring a new 7,500 sq ft warehouse.
      15414 N Brentwood St, Channelview, TX 77530
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    • Contact for pricing
      171,373 SF

      Channelview Warehouse with Truck Court

      171,373 SF warehouse featuring a 130' truck court.
      S Sheldon Rd, Channelview, TX 77530
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    • $800,000

      Wooded Land for Dream Retreat

      Serene wooded land offering endless possibilities for a dream retreat.
      16725 Shady Ln, Channelview, TX 77530
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      Waterfront Lot in Channelview, TX

      Spacious waterfront lot with Gulf access near Houston.
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    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Channelview Industrial Property For Lease

      14-Acre Manufacturing/Warehouse Space
      16425 Jacintoport Blvd, Channelview, TX 77530
      View Details
    • Contact for pricing
      5,700 SF

      Channelview Warehouse: 5,700 SF

      Prime Channelview industrial warehouse, ideal for auto or retail.
      226 Dell Dale St, Channelview, TX 77530
      View Details
    • $2,100 /Mo
      2,500 SF

      Channelview Office Warehouse For Rent

      Office warehouse space available for lease in Channelview, Texas.
      15716 Avenue C, Channelview, TX 77530
      View Details
    • $1.25 SF/Yr
      1,250 SF

      Channelview Flex/Industrial Space Available

      Flex/Industrial space available for lease in Channelview, Texas.
      15435 East Fwy, Channelview, TX 77530
      View Details
    • Contact for pricing
      1,296 SF

      Channelview Office Space Available

      Office space available for rent in Channelview, Texas.
      15055 East Fwy, Channelview, TX 77530
      View Details
    • Contact for pricing
      28,880 SF

      Grocery Anchored Retail Spaces

      Retail spaces and pad site available in Channelview, Texas.
      Sheldon Rd, Channelview, TX 77530
      View Details
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    15609 Elgin St
    Channelview, TX 77530-2623
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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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