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

    3815 Westheimer Rd Houston, TX 77027-5003

    • Grocery and convenience stores
    • 71,475 SF
    • 8.24 lot acres
    OFF-MARKET
    Value Estimations
    $8,615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2344818
    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

    • Central Market Curbside Pickup & Delivery / Grocery Store / Grocery Delivery Service
    • BBVA Compass / Atm
    • Central Market Coffee / Coffee Shop
    • Honda Key Replacement Houston TX / Car Repair And Maintenance Service / Repair Service
    • Central Market HEB ATM / Atm

    Property Details for 3815 Westheimer Rd

    Year built
    2001
    Construction
    STEEL FRAME
    Lot size
    8.24 lot acres
    Property size
    71,475 SF
    Property type
    Grocery and convenience stores
    APN
    410170020615
    APU
    410170020615

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $10,089,000
      Market price range: $3.28M - $10.4M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,070,000
      Current use
      RESTAURANT
      $7,225,000
      Change: +2% Conversion: Easy
      AUTO REPAIR, GARAGE
      $6,670,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4434
    Latitude
    29.7411
    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
    $886,870
    $35,877,300
    $8,163,875
    $44,041,175
    -
    $35,877,300
    $8,163,875
    $44,041,175

    Comparable in this City

    • Value Estimation by Request
      2,760 SF

      3811 Newcastle Dr

      CONVENIENCE STORE • 2,760 SF
      3811 Newcastle Dr, Houston, TX 77027-7203
      View Details
    • Value Estimation
      $575,000
      2,660 SF

      3707 Las Palmas St

      RETAIL STORES (PERSONAL SERVICES) • 2,660 SF
      3707 Las Palmas St, Houston, TX 77027-6801
      View Details
    • Value Estimation by Request
      2,172 SF

      3951 San Felipe St

      RETAIL STORES (PERSONAL SERVICES) • 2,172 SF
      3951 San Felipe St, Houston, TX 77027-3928
      View Details
    • Value Estimation
      $565,000
      5,933 SF

      3810 Richmond Ave

      FINANCIAL BUILDING • 5,933 SF
      3810 Richmond Ave, Houston, TX 77027-5802
      View Details
    • Value Estimation by Request
      9,725 SF

      4230 Richmond Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,725 SF
      4230 Richmond Ave, Houston, TX 77027-6839
      View Details
    • Value Estimation
      $605,000
      16,779 SF

      4218 Richmond Ave

      RETAIL STORES (PERSONAL SERVICES) • 16,779 SF
      4218 Richmond Ave, Houston, TX 77027-6839
      View Details

    Similar Nearby for Sale

    • $289,900
      1,401 SF

      Top-Floor Condo with Balcony & Views

      Top-floor 2BR/2BA condo in prime Houston location with balcony.
      58 Briar Hollow Ln, Houston, TX 77027
      View Details
    • $424,900
      918 SF

      Inwood Manor Luxury Residence

      Charming 1 bed, 1 bath condo with modern amenities.
      3711 San Felipe St, Houston, TX 77027
      View Details
    • $158,000

      Inner Loop Condo with Utilities

      Condo in Greenway Plaza/Upper Kirby with included utilities.
      3401 Timmons Ln, Houston, TX 77027
      View Details
    • Contact for pricing
      0.77 Acres

      Galleria Area Commercial Land

      Prime Houston land, ideal for development.
      3161 Loop, Houston, TX 77027
      View Details
    • Contact for pricing
      2.32 Acres

      Prime 2.32-Acre Houston Land

      Exceptional commercial/residential land near Galleria.
      2300 Loop, Houston, TX 77027
      View Details
    • $220,333

      Inner-Loop Condo with Modern Amenities

      Conveniently located condo featuring updated community pool and concrete floors.
      4515 Briar Holw Pl Pl, Houston, TX 77027
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,191 SF

      Retail Space Available For Rent

      Retail space available for rent at 3773 Southwest Freeway.
      3773 Southwest Fwy, Houston, TX 77027
      View Details
    • Contact for pricing
      1,720 SF

      Retail Space on Richmond Avenue

      Retail space available for lease on Richmond Avenue, Houston.
      3819-3995 Richmond Ave, Houston, TX 77027
      View Details
    • Contact for pricing
      1,412 SF

      Westheimer Rd Retail/Office Space

      Prime Houston location, 1412 sq ft available.
      3641 Westheimer Rd, Houston, TX 77027
      View Details
    • $18 SF/Yr
      5,853 SF

      Prime Retail Space, Post Oak Park

      Upscale mixed-use, high-traffic location.
      5 Briar Dale Ct, Houston, TX 77027
      View Details
    • $33 SF/Yr
      1,380 SF

      Houston Medical Office Suite

      Prime medical/office space available now.
      3701 Alabama St, Houston, TX 77027
      View Details
    • $30 SF/Yr
      3,071 SF

      Prime Retail Space, Post Oak Park

      Single-tenant retail, 3,071 sq ft.
      5 Briar Dale Ct, Houston, TX 77027
      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.
    3815 Westheimer Rd
    Houston, TX 77027-5003
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.