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

    1815 Washington Ave Houston, TX 77007-6130

    • Turn key restaurants
    • 3,984 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    Nov 17, 2023
    Value Estimations
    $325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4832576
    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

    • Gus's World Famous Fried Chicken / Chicken Restaurant / Restaurant

    Property Details for 1815 Washington Ave

    Year built
    1948
    Construction
    METAL FRAME
    Lot size
    0.32 lot acres
    Property size
    3,984 SF
    Property type
    Turn key restaurants
    APN
    52270000015
    APU
    52270000015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $390,000
      Market price range: $263k - $578k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $435,000
      Current use
      AUTO REPAIR, GARAGE
      $370,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3764
    Latitude
    29.7674
    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
    $33,048
    $1,192,720
    $474,390
    $1,667,110
    -
    $1,192,720
    $474,390
    $1,667,110

    Comparable in this City

    • Value Estimation
      $450,000
      3,344 SF

      4819 Washington Ave

      RESTAURANT • 3,344 SF
      4819 Washington Ave, Houston, TX 77007-5303
      View Details
    • Value Estimation
      $415,000
      7,721 SF

      1613 Shepherd Dr

      RESTAURANT • 7,721 SF
      1613 Shepherd Dr, Houston, TX 77007-3460
      View Details
    • Value Estimation
      $250,000
      2,860 SF

      519 Shepherd Dr

      RESTAURANT • 2,860 SF
      519 Shepherd Dr, Houston, TX 77007-5348
      View Details
    • Value Estimation
      $300,000
      2,057 SF

      7340 Washington Ave

      RESTAURANT • 2,057 SF
      7340 Washington Ave, Houston, TX 77007-1050
      View Details
    • Value Estimation
      $245,000
      3,160 SF

      803 Studewood St

      RESTAURANT • 3,160 SF
      803 Studewood St, Houston, TX 77007
      View Details
    • Value Estimation
      $715,000
      9,519 SF

      4901 Washington Ave

      RESTAURANT • 9,519 SF
      4901 Washington Ave, Houston, TX 77007-5305
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      47,922 SF

      Mixed-Use Property Near Downtown Houston

      Office and retail space with attached parking garage near Downtown.
      4601 Washington Ave, Houston, TX 77007
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    • Contact for pricing
      1,245 SF

      Retail Space on Shepherd Drive

      Retail property available for sale, totaling 1,245 square feet.
      2419 S Shepherd Dr, Houston, TX 77007
      View Details
    • $1,595,000

      Freestanding Retail on Washington Avenue

      Retail/commercial building with parking in the heart of Washington corridor.
      4215 Washington Ave, Houston, TX 77007
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    • $1,800,000

      Prime Houston Heights Commercial Property

      1,820 SF property on 13,200 SF lot in Houston Heights.
      811 Yale St, Houston, TX 77007
      View Details
    • Contact for pricing
      5,608 SF

      Washington Ave Retail Opportunity

      Prime Houston Retail, 5607 SF, Owner/User
      2420 Washington Ave, Houston, TX 77007
      View Details
    • Contact for pricing

      Prime Katy Freeway Gas Station Site

      High-traffic corner lot, ground lease available.
      5401 Katy Fwy, Houston, TX 77007
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    Similar Nearby for Lease

    • $42 SF/Yr
      2,115 SF

      Restaurant Space in Prime Location

      Turn-key restaurant space available for lease in a high-traffic area.
      700 Durham Dr, Houston, TX 77007
      View Details
    • $44 SF/Yr
      1,700 SF

      Restaurant Space in Heights Corridor

      Turnkey restaurant space in a dynamic Houston neighborhood.
      209 Heights Blvd, Houston, TX 77007
      View Details
    • $37 SF/Yr
      16,345 SF

      Prime Houston Retail/Office Space

      Move-in Ready Heights Location, 4,578 SF Available
      1925 Washington Ave, Houston, TX 77007
      View Details
    • Contact for pricing
      13,373 SF

      Washington Ave. Retail Spaces

      Prime Houston retail, office & restaurant space.
      4115 Washington Ave, Houston, TX 77007
      View Details
    • Contact for pricing
      3,137 SF

      Prime Houston Retail Space

      New 3,137 SF Restaurant Space in Heights
      3215 White Oak Dr, Houston, TX 77007
      View Details
    • Contact for pricing
      2,673 SF

      Retail Space on White Oak

      Retail space suitable for restaurants, cafes, and boutique retail.
      3601-3607 White Oak Dr, Houston, TX 77007
      View Details
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    1815 Washington Ave
    Houston, TX 77007-6130
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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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