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

    2022 Milby St Houston, TX 77003-5612

    • Warehouses
    • 9,385 SF
    • 1.06 lot acres
    OFF-MARKET
    Last Sale
    Jul 31, 2023
    Value Estimations
    $555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2241921
    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

    • Warehouses

    Property Details for 2022 Milby St

    Year built
    1970
    Construction
    CONCRETE BLOCKS
    Lot size
    1.06 lot acres
    Property size
    9,385 SF
    Property type
    Warehouses
    APN
    1227250010001
    APU
    1227250010001

    Description

    This exceptional 13,885-square-foot freestanding industrial property, located at 2022 Milby St, Houston, TX 77003, presents a unique investment opportunity. Classified as both warehouse and flex space, this single-tenant building offers significant versatility. Constructed in 1970 and renovated in 2002, the property boasts impressive features including ceiling heights ranging from 18 to 24 feet, providing ample vertical space for various uses. The substantial 46,126-square-foot land parcel provides extensive outdoor storage and ample parking. A key advantage is its prime location with direct frontage on the Gulf Freeway, ensuring high visibility and easy access for both employees and clients. The high traffic count of this location translates to significant marketing potential. The property's strategic positioning and functional design make it ideal for a wide range of businesses seeking a well-maintained, spacious, and highly visible industrial space. This is a rare opportunity to acquire a well-established property in a thriving Houston location. The building's size, location, and features combine to create a compelling investment prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $470,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $637,000
      Market price range: $245k - $638k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $415,000
      Current use
      RESTAURANT
      $835,000
      Change: +100% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $785,000
      Change: +88% Conversion: Difficult
      RETAIL STORES
      $680,000
      Change: +63% Conversion: Moderate
      MEDICAL BUILDING
      $600,000
      Change: +44% Conversion: Difficult
      OFFICE BUILDING
      $470,000
      Change: +13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3452
    Latitude
    29.7352
    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
    $40,205
    $1,383,780
    $542,339
    $1,926,119
    -
    $1,383,780
    $542,339
    $1,926,119

    Comparable in this City

    • Value Estimation
      $1,985,000
      31,476 SF

      707 Drennan St

      WAREHOUSE, STORAGE • 31,476 SF
      707 Drennan St, Houston, TX 77003-1320
      View Details
    • Value Estimation
      $1,445,000
      65,753 SF

      2910 Mckinney St

      WAREHOUSE, STORAGE • 65,753 SF
      2910 Mckinney St, Houston, TX 77003-3824
      View Details
    • Value Estimation
      $965,000
      20,850 SF

      1618 Webster St

      WAREHOUSE, STORAGE • 20,850 SF
      1618 Webster St, Houston, TX 77003-5825
      View Details
    • Value Estimation
      $1,730,000
      25,020 SF

      2619 Texas St

      WAREHOUSE, STORAGE • 25,020 SF
      2619 Texas St, Houston, TX 77003-3242
      View Details
    • Value Estimation
      $715,000
      17,190 SF

      2501 Jefferson St

      WAREHOUSE, STORAGE • 17,190 SF
      2501 Jefferson St, Houston, TX 77003
      View Details
    • Value Estimation
      $1,640,000
      25,374 SF

      2801 Gulf Fwy

      WAREHOUSE, STORAGE • 25,374 SF
      2801 Gulf Fwy, Houston, TX 77003
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,850 SF

      Houston Warehouse: 20,850 SF

      Prime Houston industrial warehouse for sale.
      1618 Webster St, Houston, TX 77003
      View Details
    • Contact for pricing
      18,750 SF

      EaDo Flex/Retail Space Available

      18,750 SF flex/retail space in high-traffic EaDo location.
      1110 Paige St, Houston, TX 77003
      View Details
    • Contact for pricing
      0.19 Acres

      Leeland Street Development Land

      0.19-acre lot, prime Houston location.
      2500 Leeland St, Houston, TX 77003
      View Details
    • $2,000,000
      9,664 SF

      Downtown Houston Corner Lot Redevelopment

      Mixed-use, 9,664 SF, prime location.
      3425 Harrisburg Blvd, Houston, TX 77003
      View Details
    • Contact for pricing
      0.35 Acres

      EaDo Land: Prime Redevelopment Site

      0.35-acre lot, excellent location, easy freeway access.
      1913 Napoleon St, Houston, TX 77003
      View Details
    • $10,000,000
      2.17 Acres

      EaDo Land: Prime Houston Investment

      2.17 Acres, $10M Asking Price
      0 Bastrop St, Houston, TX 77003
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      6,000 SF

      Houston Industrial Flex Space

      6,000 SF Flex Space - East Downtown
      1901 Hussion St, Houston, TX 77003
      View Details
    • Contact for pricing
      148,200 SF

      Houston Flex/Warehouse Space Available

      148,200 SF Industrial Space, Multiple Tenants
      3401 Navigation Blvd, Houston, TX 77003
      View Details
    • Contact for pricing
      320,000 SF

      East Blocks: Prime Houston Space

      Modern Houston Office & Distribution Space
      2215 Mckinney St, Houston, TX 77003
      View Details
    • $28 SF/Yr
      2,284 SF

      Canal Street Office Opportunity

      Prime Eado location, 1,040 sq ft available
      2617 Canal St, Houston, TX 77003
      View Details
    • Contact for pricing
      55,000 SF

      Houston EaDo Creative Office Space

      Prime EaDo location, flexible spaces available
      2710 Mckinney St, Houston, TX 77003
      View Details
    • Contact for pricing
      18,300 SF

      Navigation Place: Houston Retail Space

      Prime Houston Retail, Multiple Suites Available
      2929 Navigation Blvd, Houston, TX 77003
      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.
    2022 Milby St
    Houston, TX 77003-5612
    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.