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    Property profile & analytics

    2391 Wayside Dr Houston, TX 77023-3910

    • Outlet malls
    • 192,718 SF
    • 17.87 lot acres
    OFF-MARKET
    Value Estimations
    $18,755,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9828991
    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

    • Hi j / Restaurant
    • ecoATM / Atm / Cell Phone Store
    • Gerard Stafford / Physician
    • Walmart Home Theater Installation / Electrical Service / General Contractor
    • Quick-Tag / (Bike/Boat/Book/etc) Store / Pet Store & Service

    Property Details for 2391 Wayside Dr

    Year built
    2013
    Construction
    CONCRETE BLOCKS
    Lot size
    17.87 lot acres
    Property size
    192,718 SF
    Property type
    Outlet malls
    APN
    1332200010001
    APU
    1332200010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $15,241,000
      Market price range: $7.28M - $22.8M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $15,070,000
      Current use
      COMMERCIAL (GENERAL)
      $28,135,000
      Change: +87% Conversion: Easy
      AUTO REPAIR, GARAGE
      $20,445,000
      Change: +36% Conversion: Difficult
      OFFICE BUILDING
      $19,185,000
      Change: +27% Conversion: Easy
      RESTAURANT
      $18,275,000
      Change: +21% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $15,655,000
      Change: +4% Conversion: Difficult
      MEDICAL BUILDING
      $12,300,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3132
    Latitude
    29.7164
    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
    $476,848
    $11,675,415
    $11,271,517
    $22,946,932
    -
    $11,675,415
    $11,271,517
    $22,946,932

    Comparable in this City

    • Value Estimation
      $615,000
      53,619 SF

      7049 Lawndale St

      SHOPPING CENTER, STRIP CENTER • 53,619 SF
      7049 Lawndale St, Houston, TX 77023-4257
      View Details
    • Value Estimation
      $1,215,000
      32,024 SF

      900 Wayside Dr

      SHOPPING CENTER, STRIP CENTER • 32,024 SF
      900 Wayside Dr, Houston, TX 77023-3427
      View Details
    • Value Estimation by Request
      6,273 SF

      5634 Lawndale St

      SHOPPING CENTER, STRIP CENTER • 6,273 SF
      5634 Lawndale St, Houston, TX 77023-3840
      View Details
    • Value Estimation by Request
      18,848 SF

      2120 Wayside Dr

      SHOPPING CENTER, STRIP CENTER • 18,848 SF
      2120 Wayside Dr, Houston, TX 77023-3900
      View Details
    • Value Estimation
      $580,000
      22,525 SF

      7040 Lawndale St

      SHOPPING CENTER, STRIP CENTER • 22,525 SF
      7040 Lawndale St, Houston, TX 77023-4211
      View Details
    • Value Estimation by Request
      7,283 SF

      722 Telephone Rd

      SHOPPING CENTER, STRIP CENTER • 7,283 SF
      722 Telephone Rd, Houston, TX 77023
      View Details

    Similar Nearby for Sale

    • $1,000,000
      14,956 SF

      East End Mixed-Use Building

      14,956 SF building with retail and warehouse spaces for sale.
      7126 Lawndale St, Houston, TX 77023
      View Details
    • $2,750,000
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      East End Retail and Warehouse

      Retail and warehouse space in Houston's East End.
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    • $2,490,000

      Prime Land in East End

      Four lots totaling 1.8 acres in a sought-after location.
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    • $550,000

      Fully Leased Multifamily Investment Opportunity

      Seven-unit apartment complex near Downtown, Texas Medical Center, and University of Houston.
      2712 Oakcliff St, Houston, TX 77023
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    • Contact for pricing

      Eastwood Land with Building

      2.3 acres with a 41,580 SF building in Eastwood.
      1102 Telephone Rd, Houston, TX 77023
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    • Contact for pricing
      15,000 SF

      East End Land Opportunity

      15,000 sq ft lot in the East End area.
      5711 Kemp St, Houston, TX 77023
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    Similar Nearby for Lease

    • Contact for pricing
      6,309 SF

      Retail Center on Gulf Freeway

      29,364 SF retail center with excellent visibility.
      5819-5823 Gulf Fwy, Houston, TX 77023
      View Details
    • $32 SF/Yr
      56,178 SF

      South Gulf Plaza: Prime Houston Space

      High-traffic mixed-use center; office & warehouse space.
      5815 Gulf Fwy, Houston, TX 77023
      View Details
    • Contact for pricing
      9,852 SF

      Warehouse Space in Houston's East End

      Modern warehouse, ample parking, high ceilings.
      3915 Mckinney St, Houston, TX 77023
      View Details
    • $21 SF/Yr
      3,281 SF

      East End Restaurant Lease Opportunity

      Prime East End location, 3,281 sq ft.
      5434 Lawndale St, Houston, TX 77023
      View Details
    • $32 SF/Yr
      8,729 SF

      Retail/Office Redevelopment on Gulf Freeway

      Retail and office spaces available in a redeveloped mixed-use center.
      5815 Gulf Fwy, Houston, TX 77023
      View Details
    • Contact for pricing
      50,766 SF

      Prime Houston Executive Office Space

      I-45 & Cullen: Modern executive suites available.
      0 I-45 & Cullen, Houston, TX 77023
      View Details
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    Houston, TX 77023-3910
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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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