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    Property profile & analytics

    2515 Bartlett St Houston, TX 77098-5103

    • Retail space
    • 4,674 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3618676
    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

    • Abrahams Oriental Rugs / Home Decor Store / (Bike/Boat/Book/etc) Store

    Property Details for 2515 Bartlett St

    Year built
    1958
    Construction
    METAL FRAME
    Lot size
    0.11 lot acres
    Property size
    4,674 SF
    Property type
    Retail space
    APN
    572450000007
    APU
    572450000007

    Description

    This exceptional storefront property at 2515 Bartlett St, Houston, TX 77098, presents a lucrative investment opportunity in the vibrant Rice Village area. The building boasts a flexible floor plan spanning 2,574 to 3,756 square feet across two stories, offering ample space for a variety of retail uses. Its strategic location, just half a block from Kirby Drive, ensures high visibility and accessibility. The property provides convenient access to major thoroughfares including Highway 59, as well as proximity to key Houston areas such as the Medical Center, Downtown, Museum District, and Galleria. Parking is a significant advantage, with two designated spots directly in front of the building and an additional 5-7 spaces available inside a warehouse area. Tandem parking options further enhance the property's appeal. The asking price for this well-situated retail space is $1,550,000. This presents a rare chance to acquire a thriving retail location in one of Houston's most desirable neighborhoods. The property's size, parking provisions, and prime location combine to create a compelling investment opportunity with significant potential for return. Serious inquiries are encouraged.

    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
    -95.4174
    Latitude
    29.727
    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
    $19,906
    $550,000
    $440,672
    $990,672
    -
    $550,000
    $440,672
    $990,672

    Comparable in this City

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      1704 Westheimer Rd

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    • Value Estimation by Request
      9,500 SF

      2901 Shepherd Dr

      RETAIL STORES (PERSONAL SERVICES) • 9,500 SF
      2901 Shepherd Dr, Houston, TX 77098-1537
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    • Value Estimation by Request
      3,780 SF

      2702 Sackett St

      RETAIL STORES (PERSONAL SERVICES) • 3,780 SF
      2702 Sackett St, Houston, TX 77098-1100
      View Details
    • Value Estimation
      $595,000
      14,133 SF

      1822 Westheimer Rd

      RETAIL STORES (PERSONAL SERVICES) • 14,133 SF
      1822 Westheimer Rd, Houston, TX 77098-1625
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    • Value Estimation by Request
      1,796 SF

      1901 Westheimer Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,796 SF
      1901 Westheimer Rd, Houston, TX 77098-1521
      View Details
    • Value Estimation by Request
      4,136 SF

      1839 Richmond Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,136 SF
      1839 Richmond Ave, Houston, TX 77098-3509
      View Details

    Similar Nearby for Sale

    • $1,800,000

      Richmond Ave Commercial Gem

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      Retail Opportunity on Shepherd Drive

      Retail property available for sale on Shepherd Drive, Houston.
      3619 S Shepherd Dr, Houston, TX 77098
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    • $3,000,000
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      S. Shepherd Dr.

      Lifestyle centers • 4,722 SF
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    • $2,500,000
      0.22 Acres

      Shepherd Dr Commercial Land

      Houston, TX: Prime 0.22-acre lot.
      3619 Shepherd Dr, Houston, TX 77098
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    Similar Nearby for Lease

    • $38 SF/Yr
      26,924 SF

      Renovated Office/Medical/Retail Asset For Rent

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    • $42 SF/Yr
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      Upper Kirby Retail Space - 2626 SF

      Prime Houston Retail Opportunity: High-traffic location.
      3600 Kirby Dr, Houston, TX 77098
      View Details
    • Contact for pricing
      3,668 SF

      Retail Building in Upper Kirby

      Freestanding retail building in a high-traffic, upscale Houston location.
      2309 Richmond Ave, Houston, TX 77098
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      Class A Office and Retail

      Mixed-use development with Class A office and high-end retail.
      2415 Westheimer Rd, Houston, TX 77098
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      Restaurant Space on Richmond Avenue

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    • $24 SF/Yr
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      Montrose Office Space for Lease

      Prime Houston location, 2800 sq ft office
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      View Details
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    2515 Bartlett St
    Houston, TX 77098-5103
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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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