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

    1575 Eldridge Pkwy Houston, TX 77077

    • Banks
    • 5,188 SF
    • 1.25 lot acres
    For Lease
    View listing
    Value Estimations
    $495,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2048330
    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

    • BBVA Bank / Bank / Atm

    Property Details for 1575 Eldridge Pkwy

    Year built
    2008
    Construction
    FRAME
    Lot size
    1.25 lot acres
    Property size
    5,188 SF
    Property type
    Banks
    APN
    1213570020006
    APU
    1213570020006

    Description

    This exceptional 3,600-square-foot retail space is ideally situated at the hard corner of Eldridge Parkway and Briar Forest Drive in Houston, Texas, within Harris County (zip code 77077). The property is a free-standing, second-generation bank building offering a convenient drive-thru. Its prominent location at the intersection provides excellent visibility and accessibility. The single-tenant storefront is currently vacant and presents a unique opportunity for a variety of retail businesses. Surrounding the property are numerous master-planned communities, multi-family residential developments, and established national retailers, ensuring a strong customer base and high foot traffic. The building's total square footage is 3,600 square feet, all of which is currently available for lease. This property represents a compelling investment opportunity in a thriving Houston market. The property's location offers easy access to major thoroughfares and a dense population base. The building's previous use as a bank suggests a layout well-suited for various retail configurations. This is a rare chance to secure a high-visibility retail space in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $540,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $447,000
      Market price range: $254k - $447k

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $345,000
      Current use
      COMMERCIAL (GENERAL)
      $840,000
      Change: +145% Conversion: Difficult
      RESTAURANT
      $480,000
      Change: +39% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $365,000
      Change: +6% Conversion: Difficult
      MEDICAL BUILDING
      $330,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.6247
    Latitude
    29.7542
    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
    $50,452
    $1,638,720
    $909,810
    $2,548,530
    -
    $1,638,720
    $909,810
    $2,548,530

    Comparable in this City

    • Value Estimation
      $375,000
      5,336 SF

      11560 Westheimer Rd

      FINANCIAL BUILDING • 5,336 SF
      11560 Westheimer Rd, Houston, TX 77077-6708
      View Details
    • Value Estimation
      $820,000
      9,860 SF

      11697 Westheimer Rd

      FINANCIAL BUILDING • 9,860 SF
      11697 Westheimer Rd, Houston, TX 77077-6709
      View Details
    • Value Estimation
      $355,000
      4,380 SF

      1503 Eldridge Pkwy

      FINANCIAL BUILDING • 4,380 SF
      1503 Eldridge Pkwy, Houston, TX 77077-2188
      View Details
    • Value Estimation
      $455,000
      6,838 SF

      2401 Eldridge Pkwy

      FINANCIAL BUILDING • 6,838 SF
      2401 Eldridge Pkwy, Houston, TX 77077-5255
      View Details
    • Value Estimation
      $585,000
      6,597 SF

      1805 Eldridge Pkwy

      FINANCIAL BUILDING • 6,597 SF
      1805 Eldridge Pkwy, Houston, TX 77077-3573
      View Details
    • Value Estimation
      $290,000
      2,928 SF

      1502 Eldridge Pkwy

      FINANCIAL BUILDING • 2,928 SF
      1502 Eldridge Pkwy, Houston, TX 77077-1759
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      3,600 SF

      Eldridge Parkway Retail Space

      Prime Houston storefront, 3600 sq ft.
      1575 Eldridge Pkwy, Houston, TX 77077
      View Details
    • $24 SF/Yr
      2,560 SF

      Westheimer Road Medical/Retail/Office Space

      2,560 SF space ideal for medical, retail, or office.
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      View Details
    • Contact for pricing
      1,008 SF

      Retail Space on Westheimer Road

      Retail space with high visibility and consistent traffic.
      12803-12899 Westheimer Rd, Houston, TX 77077
      View Details
    • Contact for pricing
      3,283 SF

      Retail Space in Houston, TX

      Retail space available in revitalized Houston shopping strip.
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      View Details
    • $13 SF/Yr
      232,018 SF

      Royal Oaks Centre: Class A Office Space

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      View Details
    • $20 SF/Yr
      15,132 SF

      Ashton Center Office Suites

      Energy Corridor office space for lease.
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      View Details
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    Houston, TX 77077
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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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