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500 Shepherd Dr Houston, TX 77007-1347

OFF-MARKET Distribution centers Google Maps
38,712 SF 1.78 ac lot Built 1970
Individually Owned 20-yr Hold ~ Est. High Equity
Estimated value (blended)
$2.28M
Range $2.05M – $2.51M (±10%)
Property ID US82-4243907

Property summary

AI-generated overview

This exceptional Houston property, located at 500 N Shepherd Dr, offers a unique redevelopment opportunity. The 38,712-square-foot building sits on a 1.7847-acre lot (77,739 square feet) and boasts a prime location at the entrance to the Heights neighborhood, easily accessible from I-10. The property features a fully equipped, operational restaurant and kitchen with cold storage, encompassing approximately 11,000 square feet. In addition to the restaurant space, there is substantial flex/warehouse space available, providing versatility for various uses. Ample parking is provided, complemented by two convenient curb cuts. Built in 1970, this property presents a blank canvas for creative vision, with no restrictions on its future development. The property's size, location, and existing infrastructure make it an ideal investment for entrepreneurs and developers seeking a high-impact project in a thriving Houston neighborhood. The Harris County property (APN: 0400350000001) is zoned for commercial use, offering flexibility for a wide range of potential developments. This is a rare opportunity to acquire a substantial property in a highly desirable area of Houston.

Property profile

Verified
Property type Distribution centers
Use group DISTRIBUTION WAREHOUSE
Year built 1970
Construction STEEL FRAME
Total area 38,712 SF
Lot 1.78 ac (77,737 SF)
APN 400350000001
UPID US82-4243907

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bakery Specialty Food Shop
  • Restaurant
  • Nightclub Music Venue
  • Atm
  • Big Box & Wholesale Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.04M
Blend (final) Blend
$2.28M

Owner & transaction history

1 recorded transaction
1969
Price N/A

Zoning & alternative use

Top alternative use upside
Auto repair, garage $3.6M +43.2%
Retail stores $3.2M +28.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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