Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2400 Shepherd Dr Houston, TX 77008-2989

    • Retail space
    • 6,860 SF
    • 0.45 lot acres
    OFF-MARKET
    Value Estimations
    $925,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-6088873
    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

    • Upscale Cleaners / (Bike/Boat/Book/etc) Store
    • 24th Street Market / Department Store / Business Park
    • Memorial Hermann-GoHealth Urgent Care / Medical Clinic
    • Green Earth / Restaurant

    Property Details for 2400 Shepherd Dr

    Year built
    1972
    Construction
    CONCRETE BLOCKS
    Lot size
    0.45 lot acres
    Property size
    6,860 SF
    Property type
    Retail space
    APN
    1336230010001
    APU
    1336230010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $989,000
      Market price range: $353k - $1.14M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $720,000
      Current use
      COMMERCIAL (GENERAL)
      $1,370,000
      Change: +90% Conversion: Easy
      AUTO REPAIR, GARAGE
      $895,000
      Change: +24% Conversion: Difficult
      RESTAURANT
      $855,000
      Change: +18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4099
    Latitude
    29.8081
    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
    $47,489
    $1,964,600
    $830,439
    $2,795,039
    -
    $1,964,600
    $830,439
    $2,795,039

    Comparable in this City

    • Value Estimation
      $770,000
      13,690 SF

      314 11th St

      RETAIL STORES (PERSONAL SERVICES) • 13,690 SF
      314 11th St, Houston, TX 77008-7034
      View Details
    • Value Estimation
      $635,000
      10,196 SF

      104 12th St

      RETAIL STORES (PERSONAL SERVICES) • 10,196 SF
      104 12th St, Houston, TX 77008-6990
      View Details
    • Value Estimation by Request
      870 SF

      642 28th St

      RETAIL STORES (PERSONAL SERVICES) • 870 SF
      642 28th St, Houston, TX 77008-1916
      View Details
    • Value Estimation
      $620,000
      9,525 SF

      222 19th St

      RETAIL STORES (PERSONAL SERVICES) • 9,525 SF
      222 19th St, Houston, TX 77008-4010
      View Details
    • Value Estimation by Request
      1,644 SF

      621 19th St

      RETAIL STORES (PERSONAL SERVICES) • 1,644 SF
      621 19th St, Houston, TX 77008-3613
      View Details
    • Value Estimation
      $1,075,000
      7,040 SF

      1901 Shepherd Dr

      RETAIL STORES (PERSONAL SERVICES) • 7,040 SF
      1901 Shepherd Dr, Houston, TX 77008-3778
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,000 SF

      Retail Asset in Houston Heights

      14,000 SF retail condominium in a mixed-use development.
      1111 Studewood St, Houston, TX 77008
      View Details
    • Contact for pricing
      7,785 SF

      Freestanding Retail Building with Parking

      7,785 SF freestanding retail building with ample parking available for sale.
      743 11Th St, Houston, TX 77008
      View Details
    • $1,240,000

      Mixed-Use Property in Houston Heights

      Partially constructed mixed-use property in Houston Heights district.
      1211 N Durham Dr, Houston, TX 77008
      View Details
    • Contact for pricing
      31,000 SF

      Inner Loop Land for Redevelopment

      Prime land tract suitable for redevelopment or owner-operator.
      8101 Hempstead Rd, Houston, TX 77008
      View Details
    • Contact for pricing
      8,400 SF

      Greater Heights Area Commercial Building

      Commercial building in the heart of the Greater Heights area.
      777 W 23Rd St, Houston, TX 77008
      View Details
    • Contact for pricing
      23,895 SF

      Houston Heights Mixed-Use Property

      Mixed-use property in Houston Heights with significant growth potential.
      1324 N Shepherd Dr, Houston, TX 77008
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Heights Mixed-Use Development For Rent

      New mixed-use development in the Heights with office and retail.
      1903 Yale St, Houston, TX 77008
      View Details
    • Contact for pricing
      3,625 SF

      Retail Space Near Oak Forest

      Retail space with high traffic and easy highway access.
      3800 Shepherd Dr, Houston, TX 77008
      View Details
    • Contact for pricing
      600 SF

      Retail Space Available For Rent

      Retail space available for lease in Houston, TX.
      3350 E T C Jester Blvd, Houston, TX 77008
      View Details
    • Contact for pricing
      1,890 SF

      Retail Space Available For Rent

      Retail space available for lease in Houston, TX.
      736-742 20Th St, Houston, TX 77008
      View Details
    • Contact for pricing

      Built-Out Hair Salon Space

      Second generation hair salon available for rent.
      1955 W T C Jester Blvd, Houston, TX 77008
      View Details
    • Contact for pricing

      Freestanding Building in The Heights

      Freestanding building with ample parking in Houston's The Heights.
      743 E 11Th St, Houston, TX 77008
      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.
    2400 Shepherd Dr
    Houston, TX 77008-2989
    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!