Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2119 Leeland St Houston, TX 77003-5134
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2119 Leeland St Houston, TX 77003-5134

    View on Map
    • Investment properties
    • 4,042 SF
    • 0.22 lot acres
    Off-Market
    Property ID
    US82-2024060
    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.
    Value Estimations
    $825,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Leeland House / Restaurant

    Property Details for 2119 Leeland St

    Year built
    1910
    Construction
    WOOD FRAME
    Lot size
    0.22 lot acres
    Property size
    4,042 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    20410000001
    APU
    20410000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $890,000
      6.5%
      $820,000
      7%
      $760,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $826,000
      Market price range: $215k - $826k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $515,000
      Current use
      AUTO REPAIR, GARAGE
      $605,000
      Change: +17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3582
    Latitude
    29.7466
    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
    $19,928
    $776,000
    $227,649
    $1,003,649
    -
    $776,000
    $227,649
    $1,003,649

    Comparable in this City

    • Value Estimation by Request
      2,080 SF

      4101 Navigation Blvd, Unit 2

      OFFICE/RESIDENTIAL (MIXED USE) • 2,080 SF
      4101 Navigation Blvd, Houston, TX 77003-1447
      View Details
    • Value Estimation by Request
      1,887 SF

      3919 Lovejoy St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,887 SF
      3919 Lovejoy St, Houston, TX 77003-1926
      View Details
    • Value Estimation by Request
      1,288 SF

      3611 Bell St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,288 SF
      3611 Bell St, Houston, TX 77003-4817
      View Details
    • Value Estimation
      $1,275,000
      6,270 SF

      2009 Polk St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,270 SF
      2009 Polk St, Houston, TX 77003-4317
      View Details
    • Value Estimation by Request
      1,674 SF

      209 Hunt St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,674 SF
      209 Hunt St, Houston, TX 77003-2715
      View Details
    • Value Estimation by Request
      1,451 SF

      111 York St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,451 SF
      111 York St, Houston, TX 77003-1860
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      32,162 SF

      Mixed-Use Development Opportunity

      Development opportunity near East Downtown Houston with multiple potential uses.
      2501 Jefferson St, Houston, TX 77003
      View Details
    • Contact for pricing
      35,500 SF

      3401 Gulf Fwy, Houston, TX 77003

      Shopping centers • 35,500 SF
      3401 Gulf Fwy, Houston, TX 77003
      View Details
    • $1,026,420

      Cleared Land Ready for Development

      Cleared commercial land suitable for development in Houston, Texas.
      1402 Palmer St, Houston, TX 77003
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      East Blocks: Entertainment District Warehouses

      Warehouses in Houston's Entertainment District, a walkable urban destination.
      2215 Mckinney St, Houston, TX 77003
      View Details
    • Contact for pricing

      East Downtown Mixed-Use Development

      Mixed-use development in Houston's Entertainment District.
      2315 Polk St, Houston, TX 77003
      View Details
    • Contact for pricing

      East Blocks: Urban Destination

      Transformation of Houston's Entertainment District into a walkable urban destination.
      2215 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
    • Contact for pricing

      Midtown Freestanding Building Available

      5,480 SF building on 15,000 SF lot in Midtown.
      2207 Crawford St, Houston, TX 77003
      View Details
    • Contact for pricing

      Freestanding Medical Office Building Available

      Freestanding medical office building, previously a dialysis clinic.
      3150 Polk St, 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.
    2119 Leeland St
    Houston, TX 77003-5134
    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!