Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    173 Tovrea Rd Alvin, TX 77511-2963

    • Community centers
    • 15,040 SF
    • 1.86 lot acres
    OFF-MARKET
    Last Sale
    Feb 26, 2024
    Value Estimations
    $780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0602968
    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

    • Wingstop / Chicken Wings Restaurant
    • Smoothie King / Health Food Restaurant / Lunch Restaurant
    • 3C Dental Group / Dentist
    • Vapor Maven / Vaporizer Store
    • Q Lash & Brow / Beauty Salon

    Property Details for 173 Tovrea Rd

    Year built
    2002
    Lot size
    1.86 lot acres
    Property size
    15,040 SF
    Property type
    Community centers
    APN
    8150-0000-006
    APU
    81500000006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $720,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $842,000
      Market price range: $342k - $966k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $770,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Alvin
    County
    Brazoria
    State
    Texas
    Longitude
    -95.2306
    Latitude
    29.4233
    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
    2018
    $51,363
    $472,700
    $2,288,940
    $2,761,640
    -
    $472,700
    $2,288,940
    $2,761,640

    Comparable in this City

    • Value Estimation by Request
      76,468 SF

      200-324 House St

      Neighborhood centers • 76,468 SF
      200-324 House St, Alvin, TX 77511
      View Details
    • Value Estimation
      $380,000
      6,752 SF

      252 Hwy 35th S Byp

      MINI-MALL • 6,752 SF
      252 Hwy 35th S Byp, Alvin, TX 77511
      View Details
    • Value Estimation by Request
      60.00 Acres

      1156 Fox Meadow Dr

      Lifestyle centers • 60.00 Acres
      1156 Fox Meadow Dr, Alvin, TX 77511
      View Details
    • Value Estimation by Request
      10,730 SF

      230 Bypass 35

      Lifestyle centers • 10,730 SF
      230 Bypass 35, Alvin, TX 77511
      View Details
    • Value Estimation
      $395,000
      5,684 SF

      1704 Gordon St

      MINI-MALL • 5,684 SF
      1704 Gordon St, Alvin, TX 77511-4451
      View Details
    • Value Estimation
      $1,020,000
      45,570 SF

      3126 Hwy 35

      MINI-MALL • 45,570 SF
      3126 Hwy 35, Alvin, TX 77511-1404
      View Details

    Similar Nearby for Sale

    • $2,999,000
      60.00 Acres

      60 Acres of Prime Commercial Land

      Lifestyle centers • 60.00 Acres
      1156 Fox Meadow Dr, Alvin, TX 77511
      View Details
    • $1,300,000
      5,550 SF

      Fully Leased Alvin Retail Center

      5,550 SF retail center with established tenants in Alvin.
      1516 S Gordon St, Alvin, TX 77511
      View Details
    • $398,500
      1,750 SF

      Alvin Retail/Office Opportunity

      1,750 SF brick building on a 6,250 SF corner lot.
      104 S Hood St, Alvin, TX 77511
      View Details
    • $499,000
      3,410 SF

      Renovated Car Wash "BARWASH"

      Renovated car wash in historical Alvin, potential for various businesses.
      503 W Sealy St, Alvin, TX 77511
      View Details
    • $1,994,000
      9,297 SF

      Historic Alvin Mixed-Use Building

      Downtown Alvin investment opportunity. High NOI potential.
      102 Sealy St, Alvin, TX 77511
      View Details
    • Contact for pricing
      12,680 SF

      Prime Alvin Exxon & Land

      High-traffic Exxon station, 48 acres, Texas.
      4823 Tx-35, Alvin, TX 77511
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      76,468 SF

      Alvin Towne Center: Retail Investment Opportunity

      Thriving Alvin retail center; two spaces available.
      200-324 House St, Alvin, TX 77511
      View Details
    • Contact for pricing
      3,455 SF

      Retail Space in Alvin, TX

      Retail space available in a well-located Alvin shopping center.
      1200-1232 Fm 1462 Rd, Alvin, TX 77511
      View Details
    • Contact for pricing
      60,000 SF

      Retail Space in Fairway Plaza

      Retail space for lease in a busy shopping center.
      1701 Fairway Drive Ext, Alvin, TX 77511
      View Details
    • Contact for pricing
      91,360 SF

      Fairway Shopping Center: Retail Opportunity

      High-visibility retail center; 91,360 sq ft; Hwy 35 frontage.
      1701 Fairway Dr, Alvin, TX 77511
      View Details
    • Contact for pricing
      10,000 SF

      Established Gun Range & Retail

      Turnkey gun range and retail business in 10,000 sqft facility.
      1204-1232 Fm 1462 Rd, Alvin, TX 77511
      View Details
    • Contact for pricing
      108,438 SF

      Highland Square Retail Center

      Prime Alvin, TX retail space available.
      3100 Tx-35, Alvin, TX 77511
      View Details

    Property Visit Statistics

    • Visits by month
      4.6k
    • Visitors by month
      3.4k
    • Avg Time on site
      29 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    173 Tovrea Rd
    Alvin, TX 77511-2963
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.