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

    2470 Cypress Crk Pkwy Houston, TX 77068-3721

    • Bars
    • 11,133 SF
    • 0.82 lot acres
    OFF-MARKET
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4711024
    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

    • ATM / Atm
    • The Concert Pub North / Live Music Bar / Bar & Grill

    Property Details for 2470 Cypress Crk Pkwy

    Year built
    1977
    Construction
    STEEL FRAME
    Lot size
    0.82 lot acres
    Property size
    11,133 SF
    Property type
    Bars
    Property subtype
    Pubs
    APN
    420880000059
    APU
    420880000059

    Description

    This exceptional restaurant opportunity in Houston, Texas, presents a unique chance to establish or expand a thriving culinary business. Located at 2470 Cypress Creek Parkway in Harris County, this 10,500-square-foot property boasts a highly visible and accessible location within a bustling retail and business district, ensuring significant foot traffic and customer accessibility. The property's former use as a restaurant provides a solid foundation for immediate occupancy, minimizing initial setup costs and time. Currently, there are two spaces available, ranging from 6,500 to 10,500 square feet, offering flexibility for various restaurant concepts and sizes. Ample on-site parking is a key advantage, providing convenient access for both patrons and staff. The property's strategic location in the Houston submarket ensures a strong customer base and significant potential for growth within a vibrant and dynamic commercial area. This turnkey opportunity is ideal for restaurateurs seeking a well-established space in a high-traffic location. The property's size and layout offer considerable versatility, allowing for customization to suit individual business needs. This is a rare chance to secure a prime restaurant space in a thriving Houston neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $718,000
      Market price range: $718k - $1.52M

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4681
    Latitude
    30.0063
    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
    $5,038
    $287,144
    $568,672
    $855,816
    -
    $287,144
    $568,672
    $855,816

    Comparable in this City

    • Value Estimation
      $535,000
      4,854 SF

      2424 Cypress Crk Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,854 SF
      2424 Cypress Crk Pkwy, Houston, TX 77068-3704
      View Details
    • Value Estimation by Request
      2,391 SF

      4435 Cypress Crk Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,391 SF
      4435 Cypress Crk Pkwy, Houston, TX 77068-3409
      View Details
    • Value Estimation by Request

      2427 Farm To Market 1960 Rd

      Restaurants
      2427 Farm To Market 1960 Rd, Houston, TX 77068
      View Details
    • Value Estimation by Request
      50,187 SF

      3355 Farm To Market 1960 Rd

      Restaurants • 50,187 SF
      3355 Farm To Market 1960 Rd, Houston, TX 77068
      View Details
    • Value Estimation by Request
      2,870 SF

      3703 Cypress Crk Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,870 SF
      3703 Cypress Crk Pkwy, Houston, TX 77068-3501
      View Details
    • Value Estimation by Request
      1,616 SF

      3665 Cypress Crk Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,616 SF
      3665 Cypress Crk Pkwy, Houston, TX 77068-3601
      View Details

    Similar Nearby for Sale

    • $1,490,000
      5,500 SF

      Houston Restaurant - $1.49M

      Prime Restaurant Location, High Traffic Area
      2427 Farm To Market 1960 Rd, Houston, TX 77068
      View Details
    • Contact for pricing
      640 SF

      Houston Office Condos for Sale

      New 2023 construction, 37 units available.
      4224 Cypress Creek Pkwy, Houston, TX 77068
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      50,187 SF

      Cornerstone Shopping Center: Houston

      High-traffic retail center, 6 spaces available.
      3355 Farm To Market 1960 Rd, Houston, TX 77068
      View Details
    • $24 SF/Yr
      5,500 SF

      Houston Restaurant - FM 1960

      Prime Houston eatery, 5,500 sq ft.
      2427 Farm To Market 1960 Rd, Houston, TX 77068
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    • Contact for pricing
      35,415 SF

      Retail Space Available For Lease

      Retail property featuring 35,415 square feet of space.
      4534 Fm 1960 Rd West, Houston, TX 77068
      View Details
    • $0.75 SF/Yr
      2,903 SF

      Retail Space Available For Lease

      Retail space available for lease in Houston, Texas.
      16300 Kuykendahl Rd, Houston, TX 77068
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    • Contact for pricing
      1,100 SF

      Kuykendahl Plaza Retail Space

      Houston Retail Space: 1,100 SF Available
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      View Details
    • Contact for pricing
      13,092 SF

      Houston Retail Property For Lease

      Retail property available for lease in Houston, Texas.
      3140 Fm 1960 Rd W, Houston, TX 77068
      View Details
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    Houston, TX 77068-3721
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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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