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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Strip malls
506 19th St Houston, TX 77008-3612
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US82-0245194
Property summary
AI-generated overview
Heights Marketplace, a vibrant retail center in Houston's desirable Heights neighborhood, presents a unique investment opportunity. Situated on historic West 19th Street, this property comprises two buildings totaling 25,000 square feet of retail space. The center offers multiple tenancy options, with four individual suites available for lease. Spaces range from a minimum of 800 square feet to a maximum contiguous space of 1,889 square feet, providing flexibility for a variety of retail businesses. Currently, there are 5,139 square feet of vacant space ready for immediate occupancy. This prime location in the heart of the Heights offers high visibility and accessibility, benefiting from significant foot traffic and proximity to residential areas. The property is located in Harris County, Texas, with the full address being 506 W 19th St, Houston, TX 77008. This is an exceptional chance to establish or expand your retail presence in a thriving, established community. The property's strong location and flexible space options make it an ideal investment for discerning entrepreneurs seeking a high-impact retail location. Contact us today to learn more about leasing opportunities and explore the potential of Heights Marketplace.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2000
Construction
STEEL FRAME
Total area
12,854 SF
Lot
0.79 ac (34,321 SF)
APN
200950000001
UPID
US82-0245194
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$575k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$626k
Blend (final)
Blend
$600k
Owner & transaction history
Nrp Heights Marketplace Owner LP
Nrp Heights Marketplace Owner LP
since 2025
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$975,000
+79.6%
Apartment house (5+ units)
$945,000
+74.0%
Warehouse, storage
$920,000
+69.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Houston submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$575,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$545,000
Current use
OFFICE BUILDING
$975,000
Change: +80% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$945,000
Change: +74% · Conversion: Difficult
WAREHOUSE, STORAGE
$920,000
Change: +70% · Conversion: Difficult
Blend value · Realmo final
$600k
Range $540k – $660k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$47 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$91,262
Tax year 2022
Assessed value
$4,598,635
Assessed 2024
Previous assessed
$4,529,547
+1.5% YoY
Effective rate
1.98%
On assessed value
Assessed land
$3,432,200
Assessed improvement
$1,166,435
Land market value
$3,432,200
Improvement market value
$1,166,435
Total market value
$4,598,635
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
12,854 SF
Lot
0.79 ac (34,321 SF)
APN
200950000001
UPID
US82-0245194
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$545,000
OFFICE BUILDING
Est. value
$975,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$945,000
WAREHOUSE, STORAGE
Est. value
$920,000
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
0.79 ac
Current owner
From public records · entity-resolved
Nrp Heights Marketplace Owner LP
Entity
Mailing address
802 GERVAIS ST #202, COLUMBIA, SC 29201-3126
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2025
—
Nrp Heights Marketplace Owner LP
Ap Houston Heights Marketplace LLC
Special Warranty Deed
—
Mar 10, 2020
—
Ap Houston Hts Marketplace LLC
—
Deed
related
$100,000,000 · Us Bk
Feb 17, 2020
—
Ap Houston Hts Marketplace LLC
W 19th Street Partners Ltd
Grant Deed
related
—
Apr 12, 2004
—
W 19th Street Partners Ltd
19th Street Retail Center Ltd
Quit Claim Deed
related
$4,140,000 · Morgan Stanley Mtg Capital INC
Jun 12, 1998
—
19th Street Retail Center Ltd
Arevalo,eugene & Esther
Grant Deed
$3,350,000 · Southwest Bank Of Texas
—
—
W 19th Street Partners Ltd
—
Deed Of Trust
related
$4,750,000 · State Life Ins Co
—
—
Ap Houston Hts Marketplace LLC
—
Deed Of Trust
related
$100,000,000 · Us Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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