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

    2532 Fondren Rd Houston, TX 77063

    • Community centers
    • 64,854 SF
    • 5.99 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4260803
    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

    • Get Hormones / Pharmacy
    • George Tompkins / Pharmacy

    Property Details for 2532 Fondren Rd

    Year built
    1970
    Construction
    STEEL FRAME
    Lot size
    5.99 lot acres
    Property size
    64,854 SF
    Property type
    Community centers
    APN
    410280030062
    APU
    410280030062

    Description

    This exceptional retail redevelopment opportunity is situated at the highly visible, signalized intersection of Westheimer and Fondren Roads in the coveted Briarmeadow area of Houston, Harris County. The Shops at Piney Point offers two available spaces, ranging in size from 12,517 square feet to 36,500 square feet, providing flexibility for a variety of retail concepts or restaurant uses. The property's strategic location offers unparalleled visibility and accessibility, benefiting from its proximity to the bustling Houston Galleria, approximately four miles away. Convenient access to Beltway 8 ensures easy commutes for both employees and customers. This is a multi-tenant property, presenting a unique chance to establish a presence in a thriving commercial district known for its affluent demographic and high traffic volume. The development's prime location and substantial space options make it an ideal investment for businesses seeking to capitalize on the area's strong retail market. The property's size and configuration offer significant potential for customization and expansion, allowing businesses to tailor the space to their specific needs. This is a rare opportunity to secure a prominent retail presence in one of Houston's most desirable neighborhoods. Contact us today to learn more about this exceptional retail offering.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,725,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.5221
    Latitude
    29.7385
    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
    $256,450
    $11,740,995
    $982,395
    $12,723,390
    -
    $11,740,995
    $982,395
    $12,723,390

    Comparable in this City

    • Value Estimation
      $1,295,000
      56,469 SF

      9600 Westheimer Rd

      MINI-MALL • 56,469 SF
      9600 Westheimer Rd, Houston, TX 77063-3205
      View Details
    • Value Estimation
      $1,545,000
      56,998 SF

      7530 Westheimer Rd

      MINI-MALL • 56,998 SF
      7530 Westheimer Rd, Houston, TX 77063
      View Details
    • Value Estimation
      $1,245,000
      83,652 SF

      3002 Fondren Rd

      SHOPPING CENTER, STRIP CENTER • 83,652 SF
      3002 Fondren Rd, Houston, TX 77063-4902
      View Details
    • Value Estimation
      $725,000
      24,320 SF

      2735 Fondren Rd

      SHOPPING CENTER, STRIP CENTER • 24,320 SF
      2735 Fondren Rd, Houston, TX 77063
      View Details
    • Value Estimation by Request
      11,270 SF

      2660 Gessner Rd

      SHOPPING CENTER, STRIP CENTER • 11,270 SF
      2660 Gessner Rd, Houston, TX 77063
      View Details
    • Value Estimation
      $1,085,000
      46,120 SF

      3778 Gessner Rd

      SHOPPING CENTER, STRIP CENTER • 46,120 SF
      3778 Gessner Rd, Houston, TX 77063-5132
      View Details

    Similar Nearby for Sale

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      Prime Corner Lot Opportunity

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    • $950,000

      Versatile Commercial Asset in Houston

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      1,689 SF

      Retail Property in Revitalization Zone

      Retail property with high visibility in an active revitalization zone.
      1419 Gessner Rd, Houston, TX 77063
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    • $90,000

      Condo Near Galleria

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    Similar Nearby for Lease

    • $18 SF/Yr
      49,359 SF

      Sunridge Center Retail Space for Lease

      Houston Shopping Center: 4 Suites Available
      3800 Gessner Rd, Houston, TX 77063
      View Details
    • $27 SF/Yr
      10,814 SF

      Woodlake Shopping Center Retail Space

      Houston Retail Space: 2,000 sq ft available.
      2660 Gessner Rd, Houston, TX 77063
      View Details
    • Contact for pricing
      22,110 SF

      Retail Center in Southwest Houston

      Retail center with excellent curb appeal and diversified demographics.
      3202-3240 Fondren Rd, Houston, TX 77063
      View Details
    • $24 SF/Yr
      5,996 SF

      Retail Space Near Westpark Tollway

      Retail space near Westpark Tollway, Beltway 8, Hwy 59 & I-10.
      3778 S Gessner Rd, Houston, TX 77063
      View Details
    • $23 SF/Yr
      153,189 SF

      Houston Office Space for Lease

      Prime Houston Office Suites, Multiple Sizes Available
      2450 Fondren Rd, Houston, TX 77063
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space on Westheimer Road

      Retail property available for lease on Westheimer Road.
      9524 Westheimer Rd, Houston, TX 77063
      View Details
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    Houston, TX 77063
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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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