Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2719 Richey St Houston, TX 77017
    Back to Search
    Property profile & analytics

    2719 Richey St, Houston, TX 77017

    View on Map
    • Grocery and convenience stores
    • 11,315 SF
    • 1.34 lot acres
    For Lease
    $9 SF/Yr
    View Listing →
    Houston Retail Investment Opportunity For Lease
    $9 SF/Yr

    Houston Retail Investment Opportunity

    High-traffic, renovated retail space

    2719 Richey St, Houston, TX 77017
    View Listing
    Property ID
    US82-1710599
    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.
    Value Estimations
    $565,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Vigo / Bank / Credit Union

    Property Details for 2719 Richey St

    Year built
    1966
    Construction
    METAL FRAME
    Lot size
    1.34 lot acres
    Property type
    Grocery and convenience stores
    APN
    451690000101
    APU
    451690000101

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 1, 2017 — Roma Properties LLC Zarate,beatrice Warranty Deed · related —
    Jan 7, 2014 — Beatrice Zarate Cain Melina B Trustees Deed · related —
    Aug 3, 2011 — Elizabeth T Escajeda Sandoval,damaso M Grant Deed · related —
    Jul 28, 2011 — Marcos E Salcido Sandoval,damaso M Grant Deed · related —
    Feb 17, 2011 — Damaso M Sandoval Zarate,beatrice Warranty Deed · related —
    Sep 30, 2010 — Damaso M Sandoval Zarate,beatrice Warranty Deed $960k · Beatrice Zarate

    Description

    This exceptional 11,382-square-foot retail property in Houston, TX, presents a prime investment opportunity. Situated on a 1.336-acre lot at 2719 S Richey St, 77017, this single-tenant building boasts 11,000 square feet of vacant space, ideal for a variety of uses, including grocery, restaurant, nail salon, mattress store, or butcher shop. Completely renovated in 2020, the property features a new HVAC system, new plumbing, a tankless water heater, grease trap, two restrooms, and a separate office. The space includes three walk-in cooler/freezer units with stainless steel interiors (approximately 9x16 feet and two 11x11 feet), and an additional room with a walk-in strip curtain door/cooler. A prominent pylon sign ensures high visibility. Conveniently located near major freeways and just 12 minutes from Hobby International Airport, this property benefits from exceptional accessibility and high traffic volume. Built in 1966, this one-story building offers significant potential for a savvy investor seeking a strong return. The property's extensive upgrades and prime location make it an attractive proposition for a variety of retail businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $712,000
      Market price range: $474k - $1.23M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $835,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $755,000
      Change: -10% Conversion: Difficult
      MEDICAL BUILDING
      $720,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.2282
    Latitude
    29.6794
    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
    2020
    $7,388
    $350,742
    $695,365
    $1,046,107
    -
    $350,742
    $695,365
    $1,046,107

    Comparable in this City

    • Value Estimation by Request
      2,736 SF

      5602 Allendale Rd

      CONVENIENCE STORE (W/FUEL PUMP)
      5602 Allendale Rd, Houston, TX 77017-6314
      View Details
    • Value Estimation
      $695,000
      9,510 SF

      9191 Gulf Fwy

      CONVENIENCE STORE (W/FUEL PUMP)
      9191 Gulf Fwy, Houston, TX 77017-7020
      View Details
    • Value Estimation
      $500,000
      5,530 SF

      2902 Richey St

      CONVENIENCE STORE (W/FUEL PUMP)
      2902 Richey St, Houston, TX 77017-7218
      View Details
    • Value Estimation by Request
      3,552 SF

      3401 Broadway St

      CONVENIENCE STORE
      3401 Broadway St, Houston, TX 77017-2215
      View Details
    • Value Estimation
      $855,000
      14,373 SF

      4805 Galveston Rd

      CONVENIENCE STORE (W/FUEL PUMP)
      4805 Galveston Rd, Houston, TX 77017-5460
      View Details
    • Value Estimation by Request
      4,312 SF

      8525 Gulf Fwy

      CONVENIENCE STORE (W/FUEL PUMP)
      8525 Gulf Fwy, Houston, TX 77017-5140
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,608 SF

      High-Visibility Storefront with Development Potential

      Versatile storefront with I-45 visibility and expansion potential.
      3743 Erie St, Houston, TX 77017
      View Details
    • Contact for pricing

      Industrial Land in Southeast Houston

      12.28 acres for sale or lease, prime industrial location.
      9307 Canniff St, Houston, TX 77017
      View Details
    • $139,000
      Pending

      Meadowbrook Multifamily Investment Opportunity

      Multifamily property in Meadowbrook–Allendale area with renovation potential.
      8319 Garland St, Houston, TX 77017
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      South Houston Shopping Center Space

      Retail and office spaces available in South Houston.
      9247 Gulf Fwy, Houston, TX 77017
      View Details
    • Contact for pricing

      Modern Retail/Office Shell Space

      Modern shopping center shell space near 610 South Loop.
      8012 Howard Dr, Houston, TX 77017
      View Details
    • $9 SF/Yr
      11,382 SF

      Houston Retail Investment Opportunity

      High-traffic, renovated retail space
      2719 Richey St, Houston, TX 77017
      View Details
    • Contact for pricing

      South Houston Shopping Center Space

      Retail spaces for lease in South Houston near I-45.
      9247-9333 Gulf Fwy, Houston, TX 77017
      View Details
    • Contact for pricing

      Commercial Property for Rent

      Commercial property available for rent in Houston, Texas.
      10132 Buxton St, Houston, TX 77017
      View Details
    • Contact for pricing
      16,120 SF

      Commercial Land for Lease

      Land available for lease on Gulf Freeway, Houston.
      7909 Gulf Fwy, Houston, TX 77017
      View Details
    View Listing
    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.
    2719 Richey St
    Houston, TX 77017
    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

    Thank You for Inquiry
    2719 Richey St, Houston, TX, 77017
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!