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    Property profile & analytics

    2424 Hamilton St Houston, TX 77004-1200

    • Medical offices
    • 11,476 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $430,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4759766
    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

    • Emelike Uchechi Agomo / Ophthalmologist
    • Chike Rotimi Mordi / Optometrist
    • Chike Mordi / Optometrist
    • OutReach Eye Care: Kibirige Mustapha MD / Ophthalmologist
    • Nadege Nguetsop Nnamani / Nurse Practitioner

    Property Details for 2424 Hamilton St

    Year built
    1982
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.53 lot acres
    Property size
    11,476 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    190180000009
    APU
    190180000009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $415,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $623,000
      Market price range: $343k - $1.17M

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3657
    Latitude
    29.7421
    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
    $40,880
    $1,495,000
    $630,057
    $2,125,057
    -
    $1,495,000
    $630,057
    $2,125,057

    Comparable in this City

    • Value Estimation
      $1,245,000
      64,779 SF

      1801 Binz St

      MEDICAL BUILDING • 64,779 SF
      1801 Binz St, Houston, TX 77004-7207
      View Details
    • Value Estimation
      $515,000
      9,155 SF

      3119 Caroline St

      MEDICAL BUILDING • 9,155 SF
      3119 Caroline St, Houston, TX 77004-2824
      View Details
    • Value Estimation
      $1,010,000
      177,130 SF

      1213 Hermann Dr Ste, Unit 750

      MEDICAL BUILDING • 177,130 SF
      1213 Hermann Dr Ste, Houston, TX 77004-7094
      View Details
    • Value Estimation
      $1,240,000
      373,545 SF

      5115 Fannin St

      MEDICAL BUILDING • 373,545 SF
      5115 Fannin St, Houston, TX 77004-5870
      View Details
    • Value Estimation
      $350,000
      4,191 SF

      5005 Caroline St

      MEDICAL BUILDING • 4,191 SF
      5005 Caroline St, Houston, TX 77004-5703
      View Details
    • Value Estimation
      $360,000
      2,400 SF

      1202 Elgin St

      MEDICAL BUILDING • 2,400 SF
      1202 Elgin St, Houston, TX 77004-2829
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,849 SF

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    • $2,499,000
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      Midtown Houston Office Building

      5,695 SF Class A Office Space
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      4,047 SF

      Houston Medical Office Building

      Prime Location, 4,047 SF Medical Office
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    • $2,349,000

      Midtown Houston Office Building

      Prime Midtown location, 3,000 SF office.
      1803 Mcgowen St, Houston, TX 77004
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    • $895,000
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      Houston Office Building with Suites

      Two-story office building with six suites near downtown Houston.
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      EaDo Land: Prime Houston Location

      Exceptional Commercial Land, Houston's EaDo
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    Similar Nearby for Lease

    • Contact for pricing
      257,707 SF

      Medical Office Building in Houston

      Prime Medical Office Space Available
      1200 Binz St, Houston, TX 77004
      View Details
    • $18 SF/Yr
      5,891 SF

      Caroline Street Creative Office Space

      5,891 SF Creative Office Available
      2808 Caroline St, Houston, TX 77004
      View Details
    • $30 SF/Yr
      10,432 SF

      Midtown Office Space For Rent

      Second floor office space with corner exposure in Midtown Houston.
      3100 Fannin St, Houston, TX 77004
      View Details
    • Contact for pricing
      1 SF

      Elgin at Milby: Retail Opportunity

      Prime Houston Retail, Two Suites Available
      0 Neq Of Elgin St & Scott St, Houston, TX 77004
      View Details
    • Contact for pricing
      5,080 SF

      EaDo Retail Pad Opportunity

      Retail pad available for sale, lease, or ground lease.
      3431-3433 Gulf Fwy, Houston, TX 77004
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    • Contact for pricing
      5,193 SF

      5501 La Branch Street, Houston, TX, 77004

      Restaurants • 5,193 SF
      5501 La Branch St, Houston, TX 77004
      View Details
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    2424 Hamilton St
    Houston, TX 77004-1200
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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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