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

    4321 Old Spanish Trl Houston, TX 77021-1637

    • Warehouses
    • 33,350 SF
    • 1.00 lot acres
    OFF-MARKET
    Value Estimations
    $2,290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2396901
    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

    • Dixie Hardware / Building Supply / Hardware & Home Improvement

    Property Details for 4321 Old Spanish Trl

    Year built
    1966
    Construction
    STEEL FRAME
    Lot size
    1.00 lot acres
    Property size
    33,350 SF
    Property type
    Warehouses
    APN
    410070150010
    APU
    410070150010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,264,000
      Market price range: $1.53M - $3.47M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,460,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,820,000
      Change: +15% Conversion: Difficult
      RETAIL STORES
      $2,635,000
      Change: +7% Conversion: Moderate
      OFFICE BUILDING
      $2,320,000
      Change: -6% Conversion: Difficult
      MEDICAL BUILDING
      $2,130,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3479
    Latitude
    29.7048
    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
    2020
    $33,855
    $835,181
    $1,822,961
    $2,658,142
    -
    $835,181
    $1,822,961
    $2,658,142

    Comparable in this City

    • Value Estimation by Request
      1,600 SF

      7015 Winton St

      WAREHOUSE, STORAGE • 1,600 SF
      7015 Winton St, Houston, TX 77021-4631
      View Details
    • Value Estimation
      $2,710,000
      41,115 SF

      3310 Alice St

      WAREHOUSE, STORAGE • 41,115 SF
      3310 Alice St, Houston, TX 77021-4604
      View Details
    • Value Estimation by Request
      4,750 SF

      6930 Del Rio St

      WAREHOUSE, STORAGE • 4,750 SF
      6930 Del Rio St, Houston, TX 77021-4609
      View Details
    • Value Estimation
      $1,575,000
      14,505 SF

      5606 Cavanaugh St

      WAREHOUSE, STORAGE • 14,505 SF
      5606 Cavanaugh St, Houston, TX 77021-3802
      View Details
    • Value Estimation
      $1,480,000
      21,708 SF

      6925 Burkett St

      WAREHOUSE, STORAGE • 21,708 SF
      6925 Burkett St, Houston, TX 77021-4605
      View Details
    • Value Estimation
      $650,000
      6,000 SF

      6021 Calhoun Rd

      WAREHOUSE, STORAGE • 6,000 SF
      6021 Calhoun Rd, Houston, TX 77021-3305
      View Details

    Similar Nearby for Sale

    • $650,000
      1,500 SF

      Houston Warehouse: Dixie Drive

      1,500 SF Warehouse - $650K
      3371 Dixie Dr, Houston, TX 77021
      View Details
    • $1,984,050

      Prime Land Near Houston Medical

      1.42 acres near Houston Medical Center with income potential.
      6920 Winton St, Houston, TX 77021
      View Details
    • $1,097,000
      14,596 SF

      Houston Industrial Flex Building

      High-Cap Rate, Fully Leased, Renovated
      6912 Calhoun Rd, Houston, TX 77021
      View Details
    • $875,000
      6,000 SF

      Houston 8-Unit Multifamily Investment

      Prime Houston multifamily, seller financing available.
      6420 Conley St, Houston, TX 77021
      View Details
    • Contact for pricing
      10.34 Acres

      10.34 Acres Houston Land

      Inner Loop prime commercial land, high traffic.
      301 Loop, Houston, TX 77021
      View Details
    • Contact for pricing
      15.00 Acres

      Houston Commercial Land - 15 Acres

      Prime 15-acre commercial tract near major highways.
      0 Peerless St, Houston, TX 77021
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,017 SF

      Retail/Flex Space Available For Rent

      Retail/flex space with private restroom and glass storefront.
      7505-7563 South Fwy, Houston, TX 77021
      View Details
    • Contact for pricing

      Modern Home Near NRG Stadium

      New construction home near NRG Stadium and Texas Medical Center.
      7129 Sidney St, Houston, TX 77021
      View Details
    • Contact for pricing
      1,921 SF

      Medical/Professional Office Space Available

      1,921 SF office space with signage and ample parking.
      5751 Blythewood St, Houston, TX 77021
      View Details
    • Contact for pricing
      86,822 SF

      Highway Frontage Suites Available

      Suites available for lease with highway frontage and access.
      7505 South Fwy, Houston, TX 77021
      View Details
    • $15 SF/Yr
      10,000 SF

      Houston Auto Sales Complex

      Large Auto Sales Facility, 144k SF Available
      6522 Cullen Blvd, Houston, TX 77021
      View Details
    • $0.50 SF/Yr
      51,309 SF

      Two Buildings Available For Lease

      Two buildings totaling 31,267 SF available for lease.
      Houston, TX 77021
      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.
    4321 Old Spanish Trl
    Houston, TX 77021-1637
    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.