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    Property profile & analytics

    2770 Summer St Houston, TX 77007

    • Retail space
    • 15,120 SF
    • 0.23 lot acres
    For Lease
    View listing
    Value Estimations
    $735,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9024182
    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

    • Ulta Beauty / Cosmetic Store
    • Touch Mobile Carwash / Car Wash
    • 27Seventy Lower Heights / Real Estate Agency

    Property Details for 2770 Summer St

    Year built
    2019
    Construction
    BRICK
    Lot size
    0.23 lot acres
    Property size
    15,120 SF
    Property type
    Retail space
    APN
    1440390000002
    APU
    1440390000002

    Description

    This exceptional retail property, situated at the intersection of I-10 and Studemont, offers two available spaces totaling 4,963 to 5,766 square feet. Ideally located within a thriving mixed-use development, this location boasts 375 residential units directly above, ensuring a built-in customer base. The property benefits from its strategic placement in the Lower Heights District, a vibrant area surrounded by established communities including Washington Avenue, the Arts District, Greater Heights, Montrose, Downtown, and Rice Military. Five new apartment complexes, including 27Seventy Lower Heights, are in close proximity, further enhancing the potential for high foot traffic and customer engagement. The site's excellent connectivity and walkability are key advantages, with easy access to the Heights, White Oak, and Buffalo Bayou trails, making it a highly desirable location for both residents and visitors. This presents a unique opportunity for businesses seeking a prominent location within a rapidly growing and densely populated urban area. The property is categorized as retail and restaurant space, suitable for a variety of uses. The spaces are available for lease, offering a chance to establish a presence in a dynamic and convenient location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $625,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $841,000
      Market price range: $842k - $1.64M

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3871
    Latitude
    29.7735
    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
    $52,385
    $735,075
    $1,922,506
    $2,657,581
    -
    $735,075
    $1,922,506
    $2,657,581

    Comparable in this City

    • Value Estimation by Request
      3,056 SF

      811 Studewood St

      RETAIL STORES (PERSONAL SERVICES) • 3,056 SF
      811 Studewood St, Houston, TX 77007-1732
      View Details
    • Value Estimation
      $670,000
      8,314 SF

      3620 Katy Fwy

      RETAIL STORES (PERSONAL SERVICES) • 8,314 SF
      3620 Katy Fwy, Houston, TX 77007-3646
      View Details
    • Value Estimation
      $2,080,000
      19,460 SF

      5820 Washington Ave

      RETAIL STORES (PERSONAL SERVICES) • 19,460 SF
      5820 Washington Ave, Houston, TX 77007-5139
      View Details
    • Value Estimation
      $1,300,000
      10,784 SF

      5801 Memorial Dr

      RETAIL STORES (PERSONAL SERVICES) • 10,784 SF
      5801 Memorial Dr, Houston, TX 77007-8029
      View Details
    • Value Estimation by Request
      4,820 SF

      1516 Shepherd Dr

      RETAIL STORES (PERSONAL SERVICES) • 4,820 SF
      1516 Shepherd Dr, Houston, TX 77007-3459
      View Details
    • Value Estimation by Request
      3,760 SF

      465 T C Jester Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,760 SF
      465 T C Jester Blvd, Houston, TX 77007-1255
      View Details

    Similar Nearby for Sale

    • $1,595,000

      Freestanding Retail on Washington Avenue

      Retail/commercial building with parking in the heart of Washington corridor.
      4215 Washington Ave, Houston, TX 77007
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    • $1,800,000

      Prime Houston Heights Commercial Property

      1,820 SF property on 13,200 SF lot in Houston Heights.
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      1,245 SF

      Retail Space on Shepherd Drive

      Retail property available for sale, totaling 1,245 square feet.
      2419 S Shepherd Dr, Houston, TX 77007
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      5,608 SF

      Washington Ave Retail Opportunity

      Prime Houston Retail, 5607 SF, Owner/User
      2420 Washington Ave, Houston, TX 77007
      View Details
    • Contact for pricing

      Prime Katy Freeway Gas Station Site

      High-traffic corner lot, ground lease available.
      5401 Katy Fwy, Houston, TX 77007
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      2.85 Acres

      Inner Loop Houston Land Investment

      Prime commercial land, two tracts available.
      7701 Washington Ave, Houston, TX 77007
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    Similar Nearby for Lease

    • Contact for pricing
      4,666 SF

      Retail Space Near Memorial Park

      Retail space near Memorial Park, suitable for retail or office.
      6202 Washington Ave, Houston, TX 77007
      View Details
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      2,510 SF

      Retail Space in the Heights

      Retail space available on a sought-after retail corridor.
      2805 White Oak Dr, Houston, TX 77007
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Vibrant Corridor

      Retail space in Houston, close to major thoroughfares.
      2802 White Oak Dr, Houston, TX 77007
      View Details
    • Contact for pricing
      2,673 SF

      Retail Space on White Oak

      Retail space suitable for restaurants, cafes, and boutique retail.
      3601-3607 White Oak Dr, Houston, TX 77007
      View Details
    • Contact for pricing
      1,823 SF

      Mixed-Use Retail Space Available

      Retail space in a premier mixed-use development.
      1111 Shepherd Dr, Houston, TX 77007
      View Details
    • Contact for pricing
      1,060 SF

      Retail Space on Memorial Drive

      Second generation retail space in a high-traffic location.
      5710 Memorial Dr, Houston, TX 77007
      View Details
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    2770 Summer St
    Houston, TX 77007
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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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