Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2515 Caroline St Houston, TX 77004-1042

    • Commercial real estate
    • 2,577 SF
    • 0.03 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-8474420
    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

    • Caroline Lofts / Apartment Complex

    Property Details for 2515 Caroline St

    Year built
    2021
    Construction
    STEEL FRAME
    Lot size
    0.03 lot acres
    Property size
    2,577 SF
    Property type
    Commercial real estate
    APN
    1448830010001
    APU
    1448830010001

    Description

    This exceptional 2,577 square foot restaurant/retail space is ideally situated on Caroline Street in the heart of Midtown. Located on the first floor of a newly constructed, 119-unit apartment complex, this property benefits from a highly walkable neighborhood and significant foot traffic. Built in 2022, the space is in pristine condition and features a fully sprinkled fire suppression system, a crucial element for restaurant operations. A grease trap is already installed, saving the tenant significant time and expense during the build-out process. The property's strategic location within a thriving community ensures a robust customer base. With a population of 200,000 people within a three-mile radius, this space presents a unique opportunity for a restaurant or retail business seeking high visibility and accessibility. The single-tenant occupancy provides flexibility and control for the future tenant. This is a turnkey opportunity for a discerning business owner looking to establish a presence in a vibrant and densely populated area. Don't miss this chance to secure a prime location in a rapidly growing Midtown market. Contact us today to schedule a showing.

    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
    -95.3708
    Latitude
    29.7441
    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
    $3,676
    $131,100
    $50,502
    $181,602
    -
    $131,100
    $50,502
    $181,602

    Comparable in this City

    • Value Estimation
      $680,000
      4.61 Acres

      1661 Hermann Dr, Unit 224

      COMMERCIAL (GENERAL) • 4.61 Acres
      1661 Hermann Dr, Houston, TX 77004-7139
      View Details
    • Value Estimation by Request
      0.08 Acres

      Houston, TX 77004

      COMMERCIAL (GENERAL) • 0.08 Acres
      Houston, TX 77004
      View Details
    • Value Estimation by Request

      5800 Almeda Rd

      COMMERCIAL (GENERAL)
      5800 Almeda Rd, Houston, TX 77004-7306
      View Details
    • Value Estimation by Request
      2,340 SF

      3622 Beulah St, Unit 4

      COMMERCIAL (GENERAL) • 2,340 SF
      3622 Beulah St, Houston, TX 77004-2562
      View Details
    • Value Estimation by Request
      934 SF

      2510 Canfield St

      COMMERCIAL (GENERAL) • 934 SF
      2510 Canfield St, Houston, TX 77004-2115
      View Details
    • Value Estimation by Request
      0.29 Acres

      San Jacinto St

      COMMERCIAL (GENERAL) • 0.29 Acres
      San Jacinto St, Houston, TX 77004
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Venue Museum District Opportunity

      Museum District property with condominium finishes and income upside.
      5353 Fannin St, Houston, TX 77004
      View Details
    • $1,500,000

      Museum District Investment Opportunity

      Multi-family property near Downtown, Medical Center, and Universities.
      1905 Binz St, Houston, TX 77004
      View Details
    • $1,550,000

      20,000 Sqft Lot in Houston

      Spacious lot near downtown Houston with commercial and residential potential.
      2712 St Emanuel St, Houston, TX 77004
      View Details
    • $198,000

      Hutchins Street Land Parcels

      Two land parcels for sale on Hutchins Street, Houston.
      3208 Hutchins St, Houston, TX 77004
      View Details
    • $495,500

      Houston Fourplex with Development Potential

      Fully leased fourplex with additional lot in Houston's Third Ward.
      2511 Rosalie St, Houston, TX 77004
      View Details
    • $2,349,000

      Midtown Houston Office Building

      Prime Midtown location, 3,000 SF office.
      1803 Mcgowen St, Houston, TX 77004
      View Details

    Similar Nearby for Lease

    • 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
      257,707 SF

      Medical Office Building in Houston

      Prime Medical Office Space Available
      1200 Binz 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
      View Details
    • Contact for pricing

      Downtown Townhome with Two-Car Garage

      Townhome in the heart of downtown and the medical center.
      1725 Tuam St, Houston, TX 77004
      View Details
    • Contact for pricing

      Museum District Condo For Rent

      Furnished 1-bedroom condo in the museum district, walkable to restaurants.
      1508 Blodgett St, Houston, TX 77004
      View Details
    • Contact for pricing

      Charming One-Bedroom Apartment Near Universities

      One-bedroom apartment near TSU, UH, downtown, and Med Center.
      3422 Rosedale St, Houston, TX 77004
      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.
    2515 Caroline St
    Houston, TX 77004-1042
    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.