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    Property profile & analytics

    1818 Waugh Dr Houston, TX 77006-1129

    • Warehouses
    • 5,000 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $440,000
    Show details
    Cap Rate Potential
    8.9%
    Warehouses
    Location Intelligence
    Property ID
    US82-0388443
    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

    • Flowers Etc. by Georgia / Florist / Flower Delivery
    • Amazon Hub Counter - Flowers Etc. by Georgia / Mailing Service / E-Commerce Service

    Property Details for 1818 Waugh Dr

    Year built
    1960
    Construction
    STONE
    Lot size
    0.29 lot acres
    Property size
    5,000 SF
    Property type
    Warehouses
    APN
    180280000001
    APU
    180280000001

    Description

    This exceptional 12,500 square foot commercial land parcel presents a remarkable redevelopment opportunity in the desirable Montrose neighborhood of Houston, Texas. Located at 1818 Waugh Drive, this corner lot boasts 100 feet of frontage on Waugh Drive and sits at the intersection of Waugh Drive and Vermont. The property's current structure is a 7,025 square foot flower shop, offering potential for repurposing or demolition to accommodate a new development. Its prime location offers easy access to the vibrant River Oaks Shopping District and Allen Parkway, ensuring high visibility and strong potential for future tenants or occupants. The property is situated in Harris County, Texas, with a zip code of 77006. This is a rare chance to acquire a significant piece of land in a highly sought-after area of Houston. Owner financing is available, making this an even more attractive investment prospect. The property's central location and substantial size make it ideal for a variety of commercial ventures. Don't miss this chance to capitalize on the growth and potential of this thriving Houston neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $415,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $615,000
      6.5%
      $565,000
      7%
      $525,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $576,000
      Market price range: $218k - $576k

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3974
    Latitude
    29.751
    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
    $34,376
    $1,500,000
    $190,847
    $1,690,847
    -
    $1,500,000
    $190,847
    $1,690,847

    Comparable in this City

    • Value Estimation
      $505,000
      61,164 SF

      2001 Montrose Blvd

      WAREHOUSE, STORAGE • 61,164 SF
      2001 Montrose Blvd, Houston, TX 77006-1245
      View Details
    • Value Estimation
      $480,000
      10,762 SF

      2814 Bagby St

      WAREHOUSE, STORAGE • 10,762 SF
      2814 Bagby St, Houston, TX 77006-2206
      View Details
    • Value Estimation
      $345,000
      4,704 SF

      1111 Drew St

      WAREHOUSE, STORAGE • 4,704 SF
      1111 Drew St, Houston, TX 77006-1221
      View Details
    • Value Estimation
      $480,000
      6,920 SF

      1918 Taft St

      WAREHOUSE, STORAGE • 6,920 SF
      1918 Taft St, Houston, TX 77006-1455
      View Details
    • Value Estimation
      $355,000
      8,400 SF

      2001 Montrose Blvd

      WAREHOUSE, STORAGE • 8,400 SF
      2001 Montrose Blvd, Houston, TX 77006-1245
      View Details
    • Value Estimation
      $835,000
      124,572 SF

      4503 Montrose Blvd

      MINI-WAREHOUSE, STORAGE • 124,572 SF
      4503 Montrose Blvd, Houston, TX 77006-5827
      View Details

    Similar Nearby for Sale

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      Charming 4-unit property with updates and reserved parking.
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    Similar Nearby for Lease

    • $25 SF/Yr
      9,900 SF

      Midtown Office Space For Lease

      Modern, divisible office suites in prime location
      3310 Travis St, Houston, TX 77006
      View Details
    • Contact for pricing
      4,000 SF

      Westheimer Road Retail Space

      Prime Houston Retail, 4,000 SF
      208 Westheimer Rd, Houston, TX 77006
      View Details
    • Contact for pricing
      27,820 SF

      Montrose Retail Space Available

      Retail space in the heart of Montrose with patio opportunities.
      1001 Westheimer Rd, Houston, TX 77006
      View Details
    • $18 SF/Yr
      13,891 SF

      Retail Space on Richmond Avenue

      Retail property available for lease on Richmond Avenue.
      5800 Richmond Ave, Houston, TX 77006
      View Details
    • $15 SF/Yr
      1,700 SF

      Office Space Available For Rent

      1700 square feet of office space for lease.
      6300 Richmond Ave, Houston, TX 77006
      View Details
    • Contact for pricing
      3,959 SF

      Prime Houston Office Space

      3,959 SF Office Building, Houston, TX
      1105 Milford St, Houston, TX 77006
      View Details
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    Houston, TX 77006-1129
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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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