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

    3500 Richey St Houston, TX 77017-7138

    • Warehouses
    • 27,109 SF
    • 4.07 lot acres
    OFF-MARKET
    Value Estimations
    $1,810,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2055348
    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

    • Meadow Creek Service Center / Property Management Company / Commercial Real Estate Agency
    • C&G Industrial Supply, Inc. / Factory / Industrial Manufacturer
    • Studio 24 / Distribution Center / Logistics Company
    • FAS Fire & Security / Security Service
    • Surplus Valves and Fittings / Corporate Office

    Property Details for 3500 Richey St

    Year built
    1980
    Construction
    STEEL FRAME
    Lot size
    4.07 lot acres
    Property size
    27,109 SF
    Property type
    Warehouses
    APN
    402030010002
    APU
    402030010002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,854,000
      Market price range: $781k - $1.85M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,230,000
      Current use
      AUTO REPAIR, GARAGE
      $2,755,000
      Change: +124% Conversion: Easy
      RESTAURANT
      $2,690,000
      Change: +119% Conversion: Difficult
      RETAIL STORES
      $2,000,000
      Change: +63% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $1,805,000
      Change: +47% Conversion: Difficult
      MEDICAL BUILDING
      $1,730,000
      Change: +41% Conversion: Difficult
      OFFICE BUILDING
      $1,255,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.2414
    Latitude
    29.6709
    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
    2023
    $71,705
    $621,180
    $2,826,340
    $3,447,520
    -
    $621,180
    $2,826,340
    $3,447,520

    Comparable in this City

    • Value Estimation
      $1,475,000
      20,998 SF

      8601 Gulf Fwy

      WAREHOUSE, STORAGE • 20,998 SF
      8601 Gulf Fwy, Houston, TX 77017-5701
      View Details
    • Value Estimation
      $995,000
      13,325 SF

      6815 Easthaven Blvd

      WAREHOUSE, STORAGE • 13,325 SF
      6815 Easthaven Blvd, Houston, TX 77017-6560
      View Details
    • Value Estimation
      $1,615,000
      23,595 SF

      9189 Winkler Dr Ste C

      WAREHOUSE, STORAGE • 23,595 SF
      9189 Winkler Dr Ste C, Houston, TX 77017-5963
      View Details
    • Value Estimation
      $2,105,000
      30,650 SF

      9201 Winkler Dr

      WAREHOUSE, STORAGE • 30,650 SF
      9201 Winkler Dr, Houston, TX 77017-5913
      View Details
    • Value Estimation by Request
      1,200 SF

      Ahrens St

      WAREHOUSE, STORAGE • 1,200 SF
      Ahrens St, Houston, TX 77017
      View Details
    • Value Estimation
      $640,000
      10,154 SF

      5301 Brookglen Dr

      WAREHOUSE, STORAGE • 10,154 SF
      5301 Brookglen Dr, Houston, TX 77017-5923
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      51,150 SF

      Multi-Tenant Industrial Building For Sale

      One-story industrial building with excellent visibility and freeway access.
      9191 Gulf Fwy, Houston, TX 77017
      View Details
    • $925,000
      12,000 SF

      Industrial Warehouse Near Hobby Airport

      12,000 SF warehouse on 0.98 acres near Hobby Airport.
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      20,620 SF

      Houston Industrial Property for Sale

      20,620 SF industrial property available in Houston, Texas.
      317 Allen Genoa Rd, Houston, TX 77017
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    • $3,200,000
      4.38 Acres

      S. Richey Pad Sites: Prime Development Land

      4.38 Acres, High-Traffic Location, Income Producing
      2888 Richey St, Houston, TX 77017
      View Details
    • $1,500,000
      5.42 Acres

      Houston Industrial Land - 5 Acres

      Prime Houston industrial land, ideal for redevelopment.
      3415 Richey St, Houston, TX 77017
      View Details
    • $1,900,000
      11,000 SF

      Houston Grocery Store Investment

      Prime location, remodeled grocery store
      2719 Richey St, Houston, TX 77017
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Industrial Property with Updated Office

      10,000 SF industrial space with updated office available 2025.
      10129 Lucore St, Houston, TX 77017
      View Details
    • $9 SF/Yr
      51,150 SF

      Gulf Freeway Flex Space Available

      Class B Flex Warehouse, 7,514 SF Vacant
      9191 Gulf Fwy, Houston, TX 77017
      View Details
    • Contact for pricing
      1,800 SF

      Houston Restaurant - 1800 SF

      Prime Houston restaurant space, for sale or lease.
      8466 Howard Dr, 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
    • $3,450 /Mo
      1,532 SF

      Freeway Frontage Retail Opportunity

      Former Ice Express with drive-thru and freeway exposure.
      8257 Gulf Fwy, Houston, TX 77017
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space on Gulf Freeway

      Retail space available in South Houston shopping center.
      9247-9333 Gulf Fwy, Houston, TX 77017
      View Details
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    Houston, TX 77017-7138
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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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