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

    2850 Fannin St Houston, TX 77002

    • High-rise multifamily apartments
    • 43,628 SF
    • 1.14 lot acres
    For Lease
    View listing
    $25 SF/Yr
    Value Estimations
    $960,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-4183698
    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

    • Drewery Place / Real Estate Agency
    • Black Swan Yoga Midtown / Gym & Fitness Center
    • Teresa Millan- Houston Realtor / Real Estate Agency
    • Uwa / Grocery & Convenience Store / Food Market
    • BLUXAR / Artist

    Property Details for 2850 Fannin St

    Year built
    2018
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.14 lot acres
    Property size
    43,628 SF
    Property type
    High-rise multifamily apartments
    APN
    1386330010001
    APU
    1386330010001

    Description

    This exceptional 2,139 square foot retail space is located at 2850 Fannin Street, Suite 100, in the vibrant Midtown Houston area, zip code 77002. Situated within the Drewery Place development, a 357-unit residential complex, this ground-level space boasts high daytime population and income levels, ensuring a strong customer base. The property is part of a larger building totaling 367,812 square feet, constructed in 2018, and sits on 1.13 acres of land (APN: 1386330010001). This second-generation turnkey café space is ready for immediate occupancy. The property is categorized as special purpose with retail and office subtypes and features multiple tenancies. The space is ideal for a variety of businesses, benefiting from its location amongst established tenants such as Black Swan Yoga, Kanau Sushi and Izakaya, and Earthcraft Juice Shop. While the maximum contiguous space available is 2,139 square feet, the larger building offers opportunities for expansion or collaboration within the complex. This location offers unparalleled access to a thriving community and presents a unique opportunity for a discerning business owner. The property is located in Houston, Texas.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $710,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,209,000
      Market price range: $58.0k - $1.21M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,505,000
      NEIGHBORHOOD: SHOPPING CENTER
      $1,205,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3749
    Latitude
    29.7435
    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
    $2,366,651
    $9,923,000
    $98,482,645
    $108,405,645
    -
    $9,923,000
    $98,482,645
    $108,405,645

    Comparable in this City

    • Value Estimation
      $520,000
      14,499 SF

      1725 Main St, Unit 338

      HIGH-RISE APARTMENTS • 14,499 SF
      1725 Main St, Houston, TX 77002-8145
      View Details
    • Value Estimation
      $1,710,000
      388,983 SF

      1711 Caroline St, Unit 220

      HIGH-RISE APARTMENTS • 388,983 SF
      1711 Caroline St, Houston, TX 77002-8273
      View Details
    • Value Estimation
      $900,000
      45,135 SF

      2110 Baldwin St, Unit 529

      HIGH-RISE APARTMENTS • 45,135 SF
      2110 Baldwin St, Houston, TX 77002-8569
      View Details
    • Value Estimation
      $3,355,000
      588,671 SF

      409 Travis St, Unit 274

      HIGH-RISE APARTMENTS • 588,671 SF
      409 Travis St, Houston, TX 77002-1885
      View Details
    • Value Estimation
      $6,805,000
      784,966 SF

      710 Preston St, Unit 373

      HIGH-RISE APARTMENTS • 784,966 SF
      710 Preston St, Houston, TX 77002
      View Details
    • Value Estimation
      $510,000
      14,499 SF

      1625 Main St, Unit 336

      HIGH-RISE APARTMENTS • 14,499 SF
      1625 Main St, Houston, TX 77002-7536
      View Details

    Similar Nearby for Sale

    • $295,000

      Modern Condo in Midtown Houston

      Stylish condo with open layout, natural light, and gated parking.
      207 Pierce St, Houston, TX 77002
      View Details
    • $190,000
      737 SF

      Renovated Condo in Sterling

      Tenant-occupied, renovated condo with amenities in prime location.
      2016 Main St, Houston, TX 77002
      View Details
    • $899,900

      Luxurious Penthouse with Downtown Views

      Renovated penthouse with private terrace in Midtown Houston.
      2000 Bagby St, Houston, TX 77002
      View Details
    • Contact for pricing

      Land in Qualified Opportunity Zone

      30,820 sq. ft. land with easy highway access.
      Caroline St, Houston, TX 77002
      View Details
    • Contact for pricing
      7,015 SF

      Museum District Land Redevelopment Opportunity

      Two city blocks available for redevelopment in the Museum District.
      5001-5115 Main St, Houston, TX 77002
      View Details
    • Contact for pricing

      Downtown Track For Sale

      Commercial land available in downtown Houston.
      900 Leeland St, Houston, TX 77002
      View Details

    Similar Nearby for Lease

    • $1,975 /Mo

      Houston Apartment for Rent

      Apartment for rent at 1414 Texas Ave, Houston, TX
      1414 Texas Ave, Houston, TX 77002
      View Details
    • $4,500 /Mo
      2,400 SF

      Historic Houston Building Retail Space

      Loft-style retail space in a historic Houston building.
      15 N Chenevert St, Houston, TX 77002
      View Details
    • Contact for pricing
      1,065 SF

      Downtown Houston Executive Suite

      Plug & Play Office Space Available
      1000 Main St, Houston, TX 77002
      View Details
    • $15 SF/Yr
      784,143 SF

      Downtown Houston Office Tower

      Prestigious Houston office space available.
      1301 Fannin St, Houston, TX 77002
      View Details
    • $8 SF/Yr
      1,314,350 SF

      800 Bell St

      Government properties • 1,314,350 SF
      800 Bell St, Houston, TX 77002
      View Details
    • Contact for pricing
      9,926 SF

      Midtown Houston Retail Space

      Prime Houston Retail: 4,206 SF Available
      2020 Travis St, Houston, TX 77002
      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.
    2850 Fannin St
    Houston, TX 77002
    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.