Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4971 Martin Luther King Blvd, Unit 235 Houston, TX 77021-2909
    Property profile & analytics

    4971 Martin Luther King Blvd, Unit 235, Houston, TX 77021-2909

    View on Map
    • Parking lots & garages
    • 153,400 SF
    • 4.32 lot acres
    Off-Market
    Property ID
    US83-0627317
    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
    $640,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Russell R R CPA / Accounting Firm / Tax Preparation
    • Aspen Houston / Apartment Building / University
    • Altitude Apartments / Apartment Complex / Student Housing Center

    Property Details for 4971 Martin Luther King Blvd

    Year built
    2016
    Construction
    STEEL & CONCRETE
    Lot size
    4.32 lot acres
    Property type
    Parking lots & garages
    APN
    1373680010001
    APU
    1373680010001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 9, 2022 — Dlp Houston Ventures I LLC — Deed · related $31.4M · Dlp Lending Fund LLC
    Apr 12, 2019 — Breckenridge Grp Houston Tx Ll Breckenridge Grp Houston Texas Quit Claim Deed · related $92M · Clnc Credit 3 LLC
    Sep 21, 2015 — Breckenridge Group Houston Tex Mlk Place Sc II Ltd Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $565,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $710,000
      Market price range: $152k - $710k

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $390,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3349
    Latitude
    29.708
    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
    $1,651,229
    $9,042,864
    $41,082,580
    $50,125,444
    -
    $9,042,864
    $41,082,580
    $50,125,444

    Comparable in this City

    • Value Estimation by Request
      2,800 SF

      6320 New York St

      AUTO REPAIR, GARAGE
      6320 New York St, Houston, TX 77021-3918
      View Details
    • Value Estimation by Request
      5,594 SF

      7120 Scott St

      GAS STATION
      7120 Scott St, Houston, TX 77021-5712
      View Details
    • Value Estimation by Request
      2,796 SF

      4808 Yellowstone Blvd

      AUTO REPAIR, GARAGE
      4808 Yellowstone Blvd, Houston, TX 77021-4362
      View Details
    • Value Estimation by Request
      4,290 SF

      5820 Martin Luther King Blvd

      GAS STATION
      5820 Martin Luther King Blvd, Houston, TX 77021-3613
      View Details
    • Value Estimation by Request
      1,120 SF

      4720 Griggs Rd

      VEHICLE SALES, RENTALS
      4720 Griggs Rd, Houston, TX 77021-2845
      View Details
    • Value Estimation by Request
      2,240 SF

      4703 Griggs Rd

      AUTO REPAIR, GARAGE
      4703 Griggs Rd, Houston, TX 77021-2844
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,232 SF

      High-Visibility Commercial Building For Sale

      Freestanding building in high-growth area, ideal for various businesses.
      5701 Martin Luther King Blvd, Houston, TX 77021
      View Details
    • $60,000

      Residential Lot in Houston

      Prime 1,425 sq ft residential lot near downtown Houston.
      4510 Ward St, Houston, TX 77021
      View Details
    • Contact for pricing
      9,358 SF

      15-Unit Multifamily Investment Opportunity

      15-unit apartment complex in South Union area with upside potential.
      3804 Mount Pleasant St, Houston, TX 77021
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Houston Auto Sales Space Available

      Lease space at Houston Auto Sales on Cullen BLVD.
      6522 Cullen Blvd, Houston, TX 77021
      View Details
    • $28 SF/Yr
      1,850 SF

      Retail Space on Old Spanish Trail

      Retail space available for lease in Houston, Texas.
      3636 Old Spanish Trl, Houston, TX 77021
      View Details
    • Contact for pricing

      Renovated Retail Center For Lease

      Recently renovated neighborhood center with high traffic intersection location.
      6102 Scott St, Houston, TX 77021
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Old Spanish Trail

      Retail space available for lease on Old Spanish Trail.
      3922 Old Spanish Trl, Houston, TX 77021
      View Details
    • Contact for pricing

      Highway Frontage Suites Available

      Suites available for lease with highway frontage and access.
      7505 South Fwy, 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
    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.
    4971 Martin Luther King Blvd, Unit 235
    Houston, TX 77021-2909
    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

    Thank You for Inquiry
    4971 Martin Luther King Blvd, Houston, TX, 77021
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!