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

    2929 Navigation Blvd Houston, TX 77003

    • Strip malls
    • 21,569 SF
    • 1.81 lot acres
    For Lease
    View listing
    Value Estimations
    $840,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4589039
    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

    • Stellar Bank East End / Bank
    • Roostar / Vietnamese Restaurant
    • Eduardo Montero Fernandez / Dentist
    • Gatsby's Grill / American Restaurant
    • Navigation Place / Shopping Mall

    Property Details for 2929 Navigation Blvd

    Year built
    2019
    Construction
    STEEL FRAME
    Lot size
    1.81 lot acres
    Property size
    21,569 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    1403730010001
    APU
    1403730010001

    Description

    Navigation Place, located at 2929 Navigation Blvd in Houston, Texas (zip code 77003), offers exceptional retail space in a thriving East Downtown location. This newly constructed property boasts a total of 18,300 square feet, divided into six suites. Individual spaces range from a minimum of 1,200 square feet to a maximum contiguous space of 6,000 square feet, providing flexibility for various business needs. The property is situated within Harris County, in an established retail area already popular with restaurants and service providers. The addition of new businesses continues to enhance the area's appeal. Significant growth is evident with surrounding new multifamily and single-family residential construction, as well as multiple mixed-use developments. This prime location offers excellent visibility and accessibility, making it an ideal opportunity for businesses seeking a vibrant and expanding market. The property's multiple tenancy structure allows for diverse businesses to coexist and benefit from shared foot traffic. This is a rare opportunity to secure retail space in a rapidly developing and highly desirable area of Houston.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $865,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $817,000
      Market price range: $395k - $818k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $595,000
      Current use
      MEDICAL BUILDING
      $1,375,000
      Change: +131% Conversion: Difficult
      OFFICE BUILDING
      $1,080,000
      Change: +82% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3405
    Latitude
    29.7566
    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
    $128,565
    $2,767,135
    $3,932,865
    $6,700,000
    -
    $2,767,135
    $3,932,865
    $6,700,000

    Comparable in this City

    • Value Estimation
      $525,000
      22,764 SF

      2117 Chenevert St

      SHOPPING CENTER, STRIP CENTER • 22,764 SF
      2117 Chenevert St, Houston, TX 77003-5848
      View Details
    • Value Estimation
      $675,000
      14,805 SF

      904 St Emanuel St

      SHOPPING CENTER, STRIP CENTER • 14,805 SF
      904 St Emanuel St, Houston, TX 77003-3507
      View Details
    • Value Estimation
      $370,000
      10,400 SF

      1701 Webster St

      SHOPPING CENTER, STRIP CENTER • 10,400 SF
      1701 Webster St, Houston, TX 77003-5849
      View Details
    • Value Estimation
      $265,000
      5,936 SF

      2017 Lamar St

      SHOPPING CENTER, STRIP CENTER • 5,936 SF
      2017 Lamar St, Houston, TX 77003-3504
      View Details
    • Value Estimation
      $470,000
      38,624 SF

      1005 St Emanuel St

      SHOPPING CENTER, STRIP CENTER • 38,624 SF
      1005 St Emanuel St, Houston, TX 77003-3545
      View Details
    • Value Estimation
      $315,000
      2,329 SF

      3401 Harrisburg Blvd

      SHOPPING CENTER, STRIP CENTER • 2,329 SF
      3401 Harrisburg Blvd, Houston, TX 77003-2438
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,750 SF

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      32,162 SF

      EADO Mixed-Use Development Site

      Prime Houston location, 32,162 sq ft, 300 keys.
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    • $1,500,000
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      20,850 SF

      Houston Warehouse: 20,850 SF

      Prime Houston industrial warehouse for sale.
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      Corner Lot in East End

      Cleared 7,824 sq. ft. lot in growing East End.
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    Similar Nearby for Lease

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      320,000 SF

      East Blocks: Prime Houston Space

      Modern Houston Office & Distribution Space
      2215 Mckinney St, Houston, TX 77003
      View Details
    • Contact for pricing
      72,376 SF

      Houston Executive Office Space

      72,376 SF Office Building, 21,053 SF Vacant
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      View Details
    • $28 SF/Yr
      5,480 SF

      Midtown Houston Medical Office

      5,480 SF Medical Office Building, Midtown
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      View Details
    • Contact for pricing
      18,300 SF

      Navigation Place: Houston Retail Space

      Prime Houston Retail, Multiple Suites Available
      2929 Navigation Blvd, Houston, TX 77003
      View Details
    • Contact for pricing
      15,787 SF

      EADO Retail Space: Houston, TX

      Prime EaDo Retail Opportunity: Multiple Suites Available
      1102 Delano St, Houston, TX 77003
      View Details
    • Contact for pricing
      13,481 SF

      Prime Houston Executive Office Space

      13,481 SF Single-Tenant Retail/Office
      1107 Hutchins St, Houston, TX 77003
      View Details
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    2929 Navigation Blvd
    Houston, TX 77003
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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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