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

    3302 Richmond Ave Houston, TX 77098

    • Drive through restaurants
    • 3,802 SF
    • 0.51 lot acres
    For Lease
    View listing
    Last Sale
    Sep 06, 2022
    Value Estimations
    $500,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3316813
    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

    • Jack in the Box / Fast Food Restaurant / American Restaurant

    Property Details for 3302 Richmond Ave

    Year built
    1992
    Construction
    METAL FRAME
    Lot size
    0.51 lot acres
    Property size
    3,802 SF
    Property type
    Drive through restaurants
    APN
    650850040017
    APU
    650850040017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $600,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $404,000
      Market price range: $221k - $462k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $485,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4266
    Latitude
    29.7344
    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
    $56,117
    $2,240,000
    $504,071
    $2,744,071
    -
    $2,240,000
    $504,071
    $2,744,071

    Comparable in this City

    • Value Estimation
      $665,000
      2,871 SF

      5003 Kirby Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,871 SF
      5003 Kirby Dr, Houston, TX 77098-5009
      View Details
    • Value Estimation
      $485,000
      1,640 SF

      3801 Farnham St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,640 SF
      3801 Farnham St, Houston, TX 77098-4001
      View Details
    • Value Estimation
      $240,000
      1,887 SF

      2801 Shepherd Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,887 SF
      2801 Shepherd Dr, Houston, TX 77098-1535
      View Details
    • Value Estimation
      $625,000
      2,848 SF

      4920 Kirby Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,848 SF
      4920 Kirby Dr, Houston, TX 77098-5008
      View Details
    • Value Estimation
      $110,000
      4,360 SF

      3905 Kirby Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,360 SF
      3905 Kirby Dr, Houston, TX 77098-4103
      View Details
    • Value Estimation
      $280,000
      1,914 SF

      5115 Kirby Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,914 SF
      5115 Kirby Dr, Houston, TX 77098-5011
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Opportunity on Shepherd Drive

      Retail property available for sale on Shepherd Drive, Houston.
      3619 S Shepherd Dr, Houston, TX 77098
      View Details
    • $3,000,000
      4,722 SF

      S. Shepherd Dr.

      Lifestyle centers • 4,722 SF
      3501 Shepherd Dr, Houston, TX 77098
      View Details
    • $1,800,000

      Richmond Ave Commercial Gem

      Houston Office & Retail Opportunity
      3330 Richmond Ave, Houston, TX 77098
      View Details
    • $2,500,000
      0.22 Acres

      Shepherd Dr Commercial Land

      Houston, TX: Prime 0.22-acre lot.
      3619 Shepherd Dr, Houston, TX 77098
      View Details
    • $345,000
      1,048 SF

      Highrise Condo with Included Bills

      One-bedroom condo with utilities included and city views.
      2929 Buffalo Speedway, Houston, TX 77098
      View Details
    • $2,640,000

      15-Unit Apartment Complex For Sale

      Well-maintained apartment complex with income potential in improving neighborhood.
      1849 W Main St, Houston, TX 77098
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    Similar Nearby for Lease

    • Contact for pricing
      2,706 SF

      Restaurant Space on Richmond Avenue

      Sublease opportunity in Houston's fast food corridor.
      3302 Richmond Ave, Houston, TX 77098
      View Details
    • $42 SF/Yr
      6,116 SF

      Prime Upper Kirby Office Space

      Versatile Office Building, High Visibility, Ample Parking
      3801 Farnham St, Houston, TX 77098
      View Details
    • $43 SF/Yr
      3,443 SF

      Class A+ Office Building

      18-story office building with panoramic views and on-site amenities.
      3737 Buffalo Speedway, Houston, TX 77098
      View Details
    • $600 /Mo
      1,727 SF

      Montrose Executive Office Space

      Prime Montrose location, 1727 sq ft, renovated 2024
      2058 Branard St, Houston, TX 77098
      View Details
    • $42 SF/Yr
      30,716 SF

      Upper Kirby Retail Space - 2626 SF

      Prime Houston Retail Opportunity: High-traffic location.
      3600 Kirby Dr, Houston, TX 77098
      View Details
    • Contact for pricing
      3,668 SF

      Retail Building in Upper Kirby

      Freestanding retail building in a high-traffic, upscale Houston location.
      2309 Richmond Ave, Houston, TX 77098
      View Details
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    3302 Richmond Ave
    Houston, TX 77098
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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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