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Property profile & analytics
FOR LEASE
Grocery and convenience stores
3663 Washington Ave Houston, TX 77007
Entity Owned
Absentee Owner
Free & Clear
Property ID
US82-2250434
For Lease
1 / 7
$9,835,000
3663 Washington Ave, Houston, TX 77007
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2018
Total area
98,957 SF
Lot
0.9 ac (39,300 SF)
APN
1405170000002
UPID
US82-2250434
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
H-E-B Curbside Pickup & Grocery Delivery Take-out & Catering Grocery & Convenience Store
-
H-E-B Pharmacy Pharmacy
-
Buffalo Heights District Shopping Center & Mall
-
Rockabilly Llama Cycling Facility
-
HEB Bakery Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.84M
Blend (final)
Blend
$9.84M
Owner & transaction history
BKR MEMORIAL II LLC
BKR MEMORIAL II LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.8M
+30.2%
Auto repair, garage
$9.2M
+11.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Houston submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$8,265,000
Current use
RESTAURANT
$10,760,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$9,235,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$9.84M
Range $8.85M – $10.82M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$99 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$601,420
Tax year 2022
Assessed value
$26,279,953
Assessed 2024
Previous assessed
$29,849,955
-12.0% YoY
Effective rate
2.29%
On assessed value
Assessed land
$3,340,500
Assessed improvement
$22,939,453
Land market value
$3,340,500
Improvement market value
$22,939,453
Total market value
$26,279,953
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
2018
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Total area
98,957 SF
Lot
0.9 ac (39,300 SF)
APN
1405170000002
UPID
US82-2250434
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$8.3M
RESTAURANT
Est. value
$10.8M
AUTO REPAIR, GARAGE
Est. value
$9.2M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2018
Heating
FORCED AIR
Cooling
Yes
Buildings
2
Lot
0.9 ac
Current owner
From public records · entity-resolved
BKR MEMORIAL II LLC
Entity
Free & Clear · 0 yrs held
Mailing address
100 WAUGH DR STE #400, HOUSTON, TX 77007-5962
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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