Add Listing
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

    2003 Alabama St Houston, TX 77098-2707

    • Grocery and convenience stores
    • 2,704 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3743921
    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

    • Hollywood Food Store / Grocery & Convenience Store
    • Hollywood Nail Spa / Hair Salon / Nail Salon
    • ATM / Atm
    • Élan Beauty Lash & Brows / Hair Salon
    • Tacos Tierra Caliente (Food Truck) / Restaurant

    Property Details for 2003 Alabama St

    Year built
    1960
    Construction
    CONCRETE BLOCKS
    Lot size
    0.17 lot acres
    Property size
    2,704 SF
    Property type
    Grocery and convenience stores
    APN
    1319510010001
    APU
    1319510010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4083
    Latitude
    29.7383
    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
    $19,742
    $875,610
    $109,846
    $985,456
    -
    $875,610
    $109,846
    $985,456

    Comparable in this City

    • Value Estimation
      $5,060,000
      50,899 SF

      2955 Kirby Dr

      GROCERY, SUPERMARKET • 50,899 SF
      2955 Kirby Dr, Houston, TX 77098-1202
      View Details
    • Value Estimation by Request
      3,848 SF

      2700 Alabama St

      CONVENIENCE STORE • 3,848 SF
      2700 Alabama St, Houston, TX 77098-2106
      View Details
    • Value Estimation by Request
      4,066 SF

      1756 Westheimer Rd

      CONVENIENCE STORE (W/FUEL PUMP) • 4,066 SF
      1756 Westheimer Rd, Houston, TX 77098-1624
      View Details
    • Value Estimation
      $8,925,000
      80,399 SF

      1701 Alabama St

      GROCERY, SUPERMARKET • 80,399 SF
      1701 Alabama St, Houston, TX 77098-2807
      View Details
    • Value Estimation
      $875,000
      6,992 SF

      2032 Alabama St

      RETAIL STORES (PERSONAL SERVICES) • 6,992 SF
      2032 Alabama St, Houston, TX 77098-2715
      View Details
    • Value Estimation
      $1,800,000
      14,551 SF

      4700 Kirby Dr

      DRUG STORE, PHARMACY • 14,551 SF
      4700 Kirby Dr, Houston, TX 77098-5004
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Opportunity on Shepherd Drive

      Retail property available for sale on Shepherd Drive, Houston.
      3619 S Shepherd Dr, Houston, TX 77098
      View Details
    • Contact for pricing
      3,558 SF

      Houston Retail Investment Opportunity

      Tenant is Audi of Central Houston, corporate guaranteed lease.
      3131 Richmond Ave, Houston, TX 77098
      View Details
    • Contact for pricing
      4,722 SF

      Inner Loop Retail Investment Opportunity

      Retail property with value-add potential in a desirable location.
      3501 S Shepherd Dr, Houston, TX 77098
      View Details
    • $2,500,000

      Well-Maintained 15-Unit Apartment Complex

      Turnkey investment property with immediate cash flow and future growth.
      1849 W Main St, Houston, TX 77098
      View Details
    • Contact for pricing
      6,072 SF

      Richmond Avenue Multifamily Investment Opportunity

      Two adjacent income-producing properties in Houston's Inner Loop.
      1931 Richmond Ave, Houston, TX 77098
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      21,733 SF

      Renovated Office/Medical/Retail Asset For Rent

      Newly renovated, two-story, Class B office/medical/retail asset.
      3133 Southwest Fwy, Houston, TX 77098
      View Details
    • Contact for pricing

      Retail Building in Upper Kirby

      Freestanding retail building in a high-traffic, upscale Houston location.
      2309 Richmond Ave, Houston, TX 77098
      View Details
    • Contact for pricing

      Restaurant Space on Richmond Avenue

      Sublease opportunity in Houston's fast food corridor.
      3302 Richmond Ave, Houston, TX 77098
      View Details
    • Contact for pricing

      Versatile Space in Upper Kirby

      Retail, office, or creative space in Houston's Upper Kirby.
      2058 Branard St, Houston, TX 77098
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available for rent, offering 2,680 square feet.
      3600 Kirby Dr, Houston, TX 77098
      View Details
    • Contact for pricing

      Prime Retail/Office Space Available

      Located in Houston's affluent Upper Kirby District with high visibility.
      3303 Kirby Dr, Houston, TX 77098
      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.
    2003 Alabama St
    Houston, TX 77098-2707
    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.
    Sign Up Successful!
    You now have access to more from Realmo!