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    409 Heights Blvd Houston, TX 77007

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    409 Heights Blvd Houston, TX 77007

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    • Commercial real estate
    • 750 SF
    Off-Market
    Property ID
    US83-3544716
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • INTEGRATIVE BODYWORK / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 409 Heights Blvd

    Year built
    1940
    Property size
    750 SF
    Property type
    Commercial real estate

    Description

    This 750-square-foot retail or office space, located at 409 Heights Boulevard in Houston, Texas, zip code 77007, presents a unique leasing opportunity. Built in 1940 and completely renovated in 2022, the property offers a single-tenant occupancy in a vibrant Harris County neighborhood. The modern, open layout is highly adaptable, making it ideal for a variety of uses, from small businesses and studios to startups seeking a professional presence. Its prime location provides excellent visibility and accessibility, benefiting from high foot traffic in a bustling area with convenient access to Houston's best dining, shopping, and entertainment options. The property's manageable size maximizes versatility and potential, offering an exceptional opportunity for those seeking a unique and well-situated space. This is a single-tenant property within a traditional office building. The property is perfect for businesses seeking a high-visibility location in a dynamic market. The space is ready for immediate occupancy and offers a chance to establish a strong presence in a thriving Houston neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.397592449312
    Latitude
    29.778192468808

    Comparable in this City

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      Commercial Space for Lease

      Commercial space available for lease at 1824 Spring St.
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      Office/Showroom Space on Durham Drive

      4,888 SF building ideal for office or showroom use.
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      Retail and Office Space Available

      Prime location near Downtown Houston with access to major freeways.
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      Heights Boulevard Office Space

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    Similar Nearby for Lease

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      Retail/Office Space Near Washington Ave

      Prime retail or office space in vibrant Houston neighborhood.
      2420 Washington Ave, Houston, TX 77007
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      Two-Story Building on Washington Avenue

      Two-story building with parking and frontage on Washington Avenue.
      2215 Washington Ave, Houston, TX 77007
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      Commercial Space for Lease

      Commercial space available for lease at 1824 Spring St.
      1824 Spring St, Houston, TX 77007
      View Details
    • Contact for pricing

      Freestanding Victorian for Office/Retail

      Converted historic bungalow with fenced yard and gated parking.
      1119 Roy St, Houston, TX 77007
      View Details
    • $18 SF/Yr
      2,444 SF

      Office/Showroom Space on Durham Drive

      4,888 SF building ideal for office or showroom use.
      500 Durham Dr, Houston, TX 77007
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Prime location near Downtown Houston with access to major freeways.
      4115 Washington Ave, Houston, TX 77007
      View Details
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    409 Heights Blvd
    Houston, TX 77007
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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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