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

    2 Miller Rd, Unit 3 Houston, TX 77049

    • Commercial real estate
    • 5,760 SF
    • 5.91 lot acres
    OFF-MARKET
    Value Estimations
    $905,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1698296
    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

    • Commercial real estate

    Property Details for 2 Miller Rd

    Year built
    2023
    Construction
    METAL FRAME
    Lot size
    5.91 lot acres
    Property size
    5,760 SF
    Property type
    Commercial real estate
    APN
    502220000068
    APU
    502220000068

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $904,000
      Market price range: $274k - $1.32M

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.1586
    Latitude
    29.8387
    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
    $6,074
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.36 Acres

      New Frst Town Ctr Blvd

      COMMERCIAL (GENERAL) • 0.36 Acres
      New Frst Town Ctr Blvd, Houston, TX 77049
      View Details
    • Value Estimation by Request
      0.33 Acres

      13016 Old Beaumont Hwy

      COMMERCIAL (GENERAL) • 0.33 Acres
      13016 Old Beaumont Hwy, Houston, TX 77049
      View Details
    • Value Estimation by Request
      22.21 Acres

      11700 Beaumont Hwy

      COMMERCIAL (GENERAL) • 22.21 Acres
      11700 Beaumont Hwy, Houston, TX 77049-1431
      View Details
    • Value Estimation by Request

      15505 Sam Houston E Pkwy

      COMMERCIAL (GENERAL)
      15505 Sam Houston E Pkwy, Houston, TX 77049
      View Details
    • Value Estimation by Request
      2.41 Acres

      15835 Kimberlee St

      COMMERCIAL (GENERAL) • 2.41 Acres
      15835 Kimberlee St, Houston, TX 77049-2011
      View Details
    • Value Estimation by Request
      1,008 SF

      12602 Beaumont Hwy

      COMMERCIAL (GENERAL) • 1,008 SF
      12602 Beaumont Hwy, Houston, TX 77049-1441
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9.90 Acres

      Houston Commercial Land - Beltway 8

      Prime 9.9-acre commercial lot in Houston.
      8 And Uvalde, Houston, TX 77049
      View Details
    • Contact for pricing
      55.38 Acres

      Houston Retail Land Opportunity

      Prime 55-acre retail site with existing income.
      7633 Miller Road 2, Houston, TX 77049
      View Details
    • $2,424,114
      7.00 Acres

      Uvalde Road Commercial Land

      Houston acreage, prime location.
      7803 Uvalde Rd, Houston, TX 77049
      View Details
    • Contact for pricing
      7.13 Acres

      East Houston Commercial Land Tract

      7.13 Acres, Excellent Industrial Site
      17400 Wallisville Rd, Houston, TX 77049
      View Details
    • $5,899,000
      1,600 SF

      Prime Industrial Retail Space Available

      5.75-acre industrial and retail space with secure operations.
      8325 Miller Road 2, Houston, TX 77049
      View Details
    • $310,000

      Commercial Land with High Visibility

      Spacious land tract with frontage, visibility, and easy access.
      16119 Moore Rd, Houston, TX 77049
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      295,640 SF

      North Point 90 Logistics Center

      Class A Warehouse, 147,496 SF Available
      13220 Crosby Fwy, Houston, TX 77049
      View Details
    • Contact for pricing

      Industrial Property Near Highway 90

      Industrial property located near Highway 90, suitable for manufacturing.
      16915 Leonard Rd, Houston, TX 77049
      View Details
    • Contact for pricing

      Stabilized Yard with Metal Building

      8.25-acre stabilized yard with 1,000 SF metal building for rent.
      9803 Sheldon Rd, Houston, TX 77049
      View Details
    • Contact for pricing
      5,000 SF

      Houston Flex Space with Warehouse

      Flex space featuring office and warehouse components in Houston, TX.
      5821 W Sam Houston Pkwy N, Houston, TX 77049
      View Details
    • Contact for pricing
      4,879 SF

      Flex/Warehouse Space Available For Lease

      Flex/warehouse spaces for lease in professional industrial business park.
      5829 SW Sam Houston Pkwy, Houston, TX 77049
      View Details
    • $33,000
      3,963,960 SF

      Houston Industrial Land - 91 Acres

      Prime Houston land, ideal for industrial use.
      9393 Sheldon Rd, Houston, TX 77049
      View Details
    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.
    2 Miller Rd, Unit 3
    Houston, TX 77049
    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.