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

    2217 Milam St Houston, TX 77002

    • Banks
    • 5,883 SF
    • 1.43 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3794906
    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

    • Banks

    Property Details for 2217 Milam St

    Year built
    1998
    Construction
    FRAME
    Lot size
    1.43 lot acres
    Property size
    5,883 SF
    Property type
    Banks
    APN
    1300540010001
    APU
    1300540010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $590,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $506,000
      Market price range: $288k - $507k

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $390,000
      Current use
      RESTAURANT
      $620,000
      Change: +59% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $550,000
      Change: +41% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $550,000
      Change: +41% Conversion: Difficult
      RETAIL STORES
      $425,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $375,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3736
    Latitude
    29.7484
    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
    $120,163
    $4,687,500
    $1,309,084
    $5,996,584
    -
    $4,687,500
    $1,309,084
    $5,996,584

    Comparable in this City

    • Value Estimation
      $560,000
      5,256 SF

      1802 Travis St, Unit 1

      FINANCIAL BUILDING • 5,256 SF
      1802 Travis St, Houston, TX 77002-8041
      View Details
    • Value Estimation
      $900,000
      15,678 SF

      700 Congress St

      FINANCIAL BUILDING • 15,678 SF
      700 Congress St, Houston, TX 77002
      View Details
    • Value Estimation
      $865,000
      11,357 SF

      408 Webster St

      FINANCIAL BUILDING • 11,357 SF
      408 Webster St, Houston, TX 77002-8632
      View Details
    • Value Estimation
      $480,000
      17,844 SF

      2204 Louisiana St

      RETAIL STORES (PERSONAL SERVICES) • 17,844 SF
      2204 Louisiana St, Houston, TX 77002-8655
      View Details
    • Value Estimation
      $350,000
      2,146 SF

      1010 Webster St

      RETAIL STORES (PERSONAL SERVICES) • 2,146 SF
      1010 Webster St, Houston, TX 77002-8837
      View Details
    • Value Estimation
      $375,000
      6,000 SF

      2401 Main St

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      2401 Main St, Houston, TX 77002-9103
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,800 SF

      Midtown Houston Retail Storefront

      Prime Midtown location, high traffic, 16,800 sq ft.
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    • $1,250,000
      2,152 SF

      Downtown Houston Auto Shop Investment

      Prime location, high-growth potential, strong tenant.
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      Downtown Houston Storefront Opportunity

      Prime Retail Space, 6,971 SF, Owner Financing Available
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    • $1,350,000

      Downtown Houston Restaurant - Bayou Lofts

      Prime Retail Condo, High ROI, 10-Year Lease
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      15,625 SF

      Main Street Retail Opportunity

      Retail property with frontage on Main and Webster Street.
      2201 Main St, Houston, TX 77002
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    • Contact for pricing
      20,000 SF

      Downtown Houston Mixed-Use Gem

      20,000 SF, 2-Story, High Visibility
      421 Fannin St, Houston, TX 77002
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    Similar Nearby for Lease

    • Contact for pricing
      3,500 SF

      Downtown Houston Retail Space

      Prime Retail, High-Rise Location
      1617 Fannin St, Houston, TX 77002
      View Details
    • Contact for pricing
      9,926 SF

      Midtown Houston Retail Space

      Prime Houston Retail: 4,206 SF Available
      2020 Travis St, Houston, TX 77002
      View Details
    • Contact for pricing
      5,500 SF

      Houston Office/Retail Space Available

      Creative office or retail space in Houston's East End.
      1125 Providence St, Houston, TX 77002
      View Details
    • $22 SF/Yr
      17,350 SF

      Restored Historic Office and Loft

      Restored historic building offering office, retail, and light industrial space.
      1113 Vine St, Houston, TX 77002
      View Details
    • $6,000 /Mo
      3,172 SF

      Montrose Retail Storefront and Bungalow

      Unique commercial leasing opportunity in a prime Montrose/Midtown location.
      1138 Gray St, Houston, TX 77002
      View Details
    • $19 SF/Yr
      6,971 SF

      Downtown Retail Space Available

      6,971 SF retail space near tunnel entry point.
      917 Main St, Houston, TX 77002
      View Details
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    2217 Milam St
    Houston, TX 77002
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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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