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    Property profile & analytics

    5002 Bellaire Blvd Bellaire, TX 77401-4002

    • Drug stores
    • 16,976 SF
    • 1.51 lot acres
    OFF-MARKET
    Value Estimations
    $845,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3889374
    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

    • Walgreens / Stationery Store / Drug Store
    • Walgreens Pharmacy / Pharmacy
    • Walgreens Photo / Passport Photo Processor / Photo Lab
    • Rice Bellaire Shopping Center / Shopping Mall
    • Hong T. Ngo, RPh / Pharmacy

    Property Details for 5002 Bellaire Blvd

    Year built
    2000
    Construction
    BRICK
    Lot size
    1.51 lot acres
    Property size
    16,976 SF
    Property type
    Drug stores
    APN
    70470260026
    APU
    70470260026

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $835,000
      Current use
      MEDICAL BUILDING
      $1,120,000
      Change: +34% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,045,000
      Change: +26% Conversion: Difficult
      WAREHOUSE, STORAGE
      $855,000
      Change: +2% Conversion: Difficult
      OFFICE BUILDING
      $735,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellaire
    County
    Harris
    State
    Texas
    Longitude
    -95.4673
    Latitude
    29.7065
    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
    $74,872
    $1,971,000
    $1,991,877
    $3,962,877
    -
    $1,971,000
    $1,991,877
    $3,962,877

    Comparable in this City

    • Value Estimation
      $670,000
      13,006 SF

      5430 Bissonnet St

      DRUG STORE, PHARMACY • 13,006 SF
      5430 Bissonnet St, Bellaire, TX 77401-3913
      View Details
    • Value Estimation
      $6,230,000
      263,865 SF

      5106 Bissonnet St

      GROCERY, SUPERMARKET • 263,865 SF
      5106 Bissonnet St, Bellaire, TX 77401-4007
      View Details
    • Value Estimation by Request
      6,061 SF

      5231 Bellaire Blvd

      FINANCIAL BUILDING • 6,061 SF
      5231 Bellaire Blvd, Bellaire, TX 77401-3901
      View Details
    • Value Estimation by Request
      4,050 SF

      4501 Bissonnet St

      RETAIL STORES (PERSONAL SERVICES) • 4,050 SF
      4501 Bissonnet St, Bellaire, TX 77401-3101
      View Details
    • Value Estimation by Request
      5,250 SF

      5201 Spruce St Ste A

      RETAIL STORES (PERSONAL SERVICES) • 5,250 SF
      5201 Spruce St Ste A, Bellaire, TX 77401-3342
      View Details
    • Value Estimation by Request
      4,501 SF

      5212 Bellaire Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,501 SF
      5212 Bellaire Blvd, Bellaire, TX 77401-3902
      View Details

    Similar Nearby for Sale

    • $525,000

      Prime Corner Lot in Bellaire

      Oversized corner lot in the heart of Bellaire.
      5100 Aspen St, Bellaire, TX 77401
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    • $450,000

      Land For Sale Bellaire

      Land available for sale in Bellaire, Texas.
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    • $765,000

      Bellaire Land for Sale

      Land available in Bellaire, Texas. Home is a tear down.
      4519 Holt St, Bellaire, TX 77401
      View Details
    • Contact for pricing
      0.77 Acres

      Bellaire Land: Prime Commercial Site

      0.77 Acres, High Visibility, Excellent Location
      5910 Loop Fwy, Bellaire, TX 77401
      View Details
    • Contact for pricing
      2,100 SF

      Bellaire Office with Expansion Potential

      Professional office in Bellaire with large yard and recent renovation.
      5008 Locust St, Bellaire, TX 77401
      View Details
    • Contact for pricing

      Land For Sale Bellaire, TX

      Land available for sale at 5910 West Loop S, Bellaire, TX.
      5910 West Loop S, Bellaire, TX 77401
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Retail Space Near Bellaire H-E-B

      Retail building adjacent to Bellaire Triangle H-E-B.
      5201 Spruce St, Bellaire, TX 77401
      View Details
    • $30 SF/Yr
      610 SF

      Retail Space on Bissonnet Street

      Retail space available for lease in Bellaire, Texas.
      5301-5317 Bissonnet St, Bellaire, TX 77401
      View Details
    • Contact for pricing
      70,000 SF

      Bellaire Blvd Retail Center

      Prime Bellaire location, 8 suites available.
      5313-5407 Bellaire Blvd, Bellaire, TX 77401
      View Details
    • $24 SF/Yr
      2,936 SF

      Bellaire Plaza

      Lifestyle centers • 2,936 SF
      5410 Bellaire Blvd, Bellaire, TX 77401
      View Details
    • Contact for pricing
      37,699 SF

      Bellaire Blvd Retail Center

      High-traffic retail space available in Bellaire, TX
      0 Bellaire Blvd. & Rice Ave, Bellaire, TX 77401
      View Details
    • $2,849,000
      2,100 SF

      Bellaire Flex Space Available

      2,100 SF flex space with private entrance in Bellaire.
      5455 Dashwood St, Bellaire, TX 77401
      View Details

    Property Visit Statistics

    • Visits by month
      20.6k
    • Visitors by month
      14.2k
    • Avg Time on site
      9 min
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    Bellaire, TX 77401-4002
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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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