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

    2323 University Blvd Houston, TX 77005-2641

    • Retail space
    • 3,061 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Mar 24, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2975013
    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

    • Village Greenery And Flowers / Florist / Flower Delivery

    Property Details for 2323 University Blvd

    Year built
    1939
    Construction
    METAL FRAME
    Lot size
    0.14 lot acres
    Property size
    3,061 SF
    Property type
    Retail space
    APN
    600450110019
    APU
    600450110019

    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
    -95.4137
    Latitude
    29.7148
    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
    $10,590
    $687,500
    $230,351
    $917,851
    -
    $687,500
    $230,351
    $917,851

    Comparable in this City

    • Value Estimation
      $2,280,000
      19,300 SF

      2715 Bissonnet St

      RETAIL STORES (PERSONAL SERVICES) • 19,300 SF
      2715 Bissonnet St, Houston, TX 77005-1340
      View Details
    • Value Estimation
      $785,000
      15,600 SF

      2515 University Blvd

      RETAIL STORES (PERSONAL SERVICES) • 15,600 SF
      2515 University Blvd, Houston, TX 77005-3228
      View Details
    • Value Estimation by Request
      3,904 SF

      2406 Bissonnet St

      RETAIL STORES (PERSONAL SERVICES) • 3,904 SF
      2406 Bissonnet St, Houston, TX 77005
      View Details
    • Value Estimation by Request
      6,099 SF

      5335 Edloe St

      RETAIL STORES (PERSONAL SERVICES) • 6,099 SF
      5335 Edloe St, Houston, TX 77005-1105
      View Details
    • Value Estimation by Request
      2,760 SF

      6601 Kirby Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,760 SF
      6601 Kirby Dr, Houston, TX 77005-3943
      View Details
    • Value Estimation by Request
      2,232 SF

      6103 Kirby Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,232 SF
      6103 Kirby Dr, Houston, TX 77005-3140
      View Details

    Similar Nearby for Sale

    • $799,900

      Commercial Zoned Duplex For Sale

      Commercial zoned duplex with excellent location and visibility.
      2042 Bissonnet St, Houston, TX 77005
      View Details
    • $1,799,463

      Land Available on Bissonnet Street

      Land for sale on Bissonnet Street, Houston, Texas.
      Bissonnet St, Houston, TX 77005
      View Details
    • $235,000

      Renovated Condo in West University

      Spacious, renovated condo near Museum District, Medical Center, and Downtown.
      4000 Purdue St, Houston, TX 77005
      View Details
    • $175,000

      Remodeled Unit in West University

      Remodeled unit near shopping, restaurants, downtown, and Texas Medical Center.
      4041 Drake St, Houston, TX 77005
      View Details
    • $649,000

      Residential Lot in West University

      Prime lot in West University, ready for new construction.
      6212 Community Dr, West University Place, TX 77005
      View Details
    • $215,000

      First-Floor Condo Near Galleria

      Charming 2-bedroom condo in gated community, convenient location.
      4041 Law St, Houston, TX 77005
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      1,752 SF

      Houston Fitness Center Space

      1752 SF Retail Space Available
      2500 Dunstan Rd, Houston, TX 77005
      View Details
    • Contact for pricing
      2,812 SF

      Houston Office Space: Kelvin Drive

      Prime 2,812 SF Office/Retail Space in Houston, TX
      5407 Kelvin Dr, Houston, TX 77005
      View Details
    • Contact for pricing
      354,713 SF

      Weslayan Plaza Retail Space

      Houston Retail, Multiple Suites Available
      5586 Weslayan St, Houston, TX 77005
      View Details
    • Contact for pricing
      9,230 SF

      Retail Space Available For Lease

      9,230 square foot retail property for lease.
      Rice Blvd, Houston, TX 77005
      View Details
    • $36 SF/Yr
      2,160 SF

      Warehouse-Style Building with Signage

      Warehouse-style building with roll-up doors and ample parking.
      2417 Bissonnet St, Houston, TX 77005
      View Details
    • Contact for pricing
      44,532 SF

      Houston Industrial Property - Bissonnet St

      Large Flex Space, 44,532 SF, 1.61 Acres
      3502 Bissonnet St, Houston, TX 77005
      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.
    2323 University Blvd
    Houston, TX 77005-2641
    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.