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    Property profile & analytics

    4115 Washington Ave Houston, TX 77007

    • Bars
    • 6,309 SF
    • 0.63 lot acres
    For Lease
    View listing
    Value Estimations
    $585,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1050858
    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

    • Azuza / Bar & Pub / (Bike/Boat/Book/etc) Store

    Property Details for 4115 Washington Ave

    Year built
    1930
    Construction
    METAL FRAME
    Lot size
    0.63 lot acres
    Property size
    6,309 SF
    Property type
    Bars
    Property subtype
    Pubs
    APN
    1464320010001
    APU
    1464320010001

    Description

    This exceptional 13,373 square foot multi-tenant property, located at 4115 Washington Avenue in Harris County, presents a unique pre-leasing opportunity. The building offers a flexible layout with five suites, ranging from a minimum of 765 square feet to a maximum contiguous space of 4,645 square feet. Currently, 8,506 square feet are available for lease, providing ample space for a variety of retail, restaurant, or office uses. The property boasts 42 total parking spaces, ensuring convenient access for customers and employees. Its strategic location west of Downtown Houston provides excellent access to major freeways and arterial roads, placing it within easy reach of a large and diverse customer base. The surrounding area is characterized by a high concentration of affluent neighborhoods, including River Oaks, Washington/Rice Military, Montrose, The Heights, and Downtown Houston. These neighborhoods offer a wealth of amenities, such as parks, restaurants, cafes, boutiques, and art galleries, creating a vibrant and desirable environment for businesses. The proximity to major retailers like HEB, Walmart, and Google further enhances the property's appeal and visibility. This is an unparalleled opportunity to establish a presence in one of Houston's most dynamic and rapidly growing commercial districts. The available space is ideal for businesses seeking a high-traffic location with strong demographics and convenient access to a wide range of amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $480,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $690,000
      Market price range: $416k - $915k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $685,000
      Current use
      AUTO REPAIR, GARAGE
      $590,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.403
    Latitude
    29.7698
    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
    $55,677
    $2,622,000
    $323,863
    $2,945,863
    -
    $2,622,000
    $323,863
    $2,945,863

    Comparable in this City

    • Value Estimation by Request
      16,345 SF

      1925 Washington Ave

      Restaurants • 16,345 SF
      1925 Washington Ave, Houston, TX 77007
      View Details
    • Value Estimation
      $675,000
      5,264 SF

      5219 Washington Ave

      BAR, TAVERN • 5,264 SF
      5219 Washington Ave, Houston, TX 77007-5252
      View Details
    • Value Estimation
      $530,000
      8,619 SF

      2205 Patterson St

      BAR, TAVERN • 8,619 SF
      2205 Patterson St, Houston, TX 77007-2326
      View Details
    • Value Estimation by Request
      6,920 SF

      4105 Washington Ave

      BAR, TAVERN • 6,920 SF
      4105 Washington Ave, Houston, TX 77007-5635
      View Details
    • Value Estimation by Request
      1,492 SF

      4219 Washington Ave

      BAR, TAVERN • 1,492 SF
      4219 Washington Ave, Houston, TX 77007-5637
      View Details
    • Value Estimation
      $675,000
      4,536 SF

      3905 Washington Ave

      BAR, TAVERN • 4,536 SF
      3905 Washington Ave, Houston, TX 77007-5603
      View Details

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    Similar Nearby for Lease

    • $37 SF/Yr
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      Prime Houston Retail/Office Space

      Move-in Ready Heights Location, 4,578 SF Available
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    • $42 SF/Yr
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      Restaurant Space in Prime Location

      Turn-key restaurant space available for lease in a high-traffic area.
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      Retail and restaurant spaces for lease in desirable Houston Heights.
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      40,000 SF

      Heights Mercantile: Prime Retail Space

      40,000 SF Retail/Restaurant in Houston, TX
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      13,373 SF

      Washington Ave. Retail Spaces

      Prime Houston retail, office & restaurant space.
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      Prime Houston Retail Space

      New 3,137 SF Restaurant Space in Heights
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    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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