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

    5090 Griggs Rd Houston, TX 77021-3210

    • Strip malls
    • 18,042 SF
    • 2.34 lot acres
    OFF-MARKET
    Value Estimations
    $545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1057060
    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

    • Mike's Custom Jewelry / Jewelry Store
    • LibertyX Bitcoin ATM / Atm
    • SMOKERS PLANET/VAPE SHOP/CBD INSIDE KINGS BEST MALL / Tobacco Shop / Vaporizer Store
    • NZ Car Audio / Car Stereo Store
    • Inkbyvee512 / Tattoo Shop

    Property Details for 5090 Griggs Rd

    Year built
    1979
    Construction
    STEEL FRAME
    Lot size
    2.34 lot acres
    Property size
    18,042 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    1392020010001
    APU
    1392020010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $545,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $599,000
      Market price range: $331k - $684k

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3397
    Latitude
    29.698
    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
    $61,089
    $1,830,906
    $1,254,586
    $3,085,492
    -
    $1,830,906
    $1,254,586
    $3,085,492

    Comparable in this City

    • Value Estimation
      $640,000
      18,323 SF

      5910 Scott St

      SHOPPING CENTER, STRIP CENTER • 18,323 SF
      5910 Scott St, Houston, TX 77021-1457
      View Details
    • Value Estimation
      $360,000
      12,240 SF

      5939 Scott St

      SHOPPING CENTER, STRIP CENTER • 12,240 SF
      5939 Scott St, Houston, TX 77021-1420
      View Details
    • Value Estimation
      $785,000
      31,516 SF

      5670 Cullen Blvd

      SHOPPING CENTER, STRIP CENTER • 31,516 SF
      5670 Cullen Blvd, Houston, TX 77021
      View Details
    • Value Estimation
      $560,000
      17,610 SF

      3922 Old Spanish Trl

      SHOPPING CENTER, STRIP CENTER • 17,610 SF
      3922 Old Spanish Trl, Houston, TX 77021-1425
      View Details
    • Value Estimation
      $430,000
      14,978 SF

      4429 Griggs Rd

      SHOPPING CENTER, STRIP CENTER • 14,978 SF
      4429 Griggs Rd, Houston, TX 77021-2852
      View Details
    • Value Estimation
      $430,000
      10,886 SF

      6073 Scott St

      SHOPPING CENTER, STRIP CENTER • 10,886 SF
      6073 Scott St, Houston, TX 77021-2663
      View Details

    Similar Nearby for Sale

    • $2,850,000
      1.00 Acre

      Houston Retail Portfolio: Prime Dixie Drive Location

      High-yield retail investment opportunity in Houston, TX.
      3343 Dixie Dr, Houston, TX 77021
      View Details
    • $2,600,000
      32,740 SF

      Corner Lot with Mixed-Use Potential

      32,740 SF corner lot near major Houston landmarks.
      6524 Del Rio St, Houston, TX 77021
      View Details
    • Contact for pricing
      3,062 SF

      Houston Medical Office Space For Sale

      Prime Houston location, flexible square footage.
      0 Griggs Rd & Cullen Blvd, Houston, TX 77021
      View Details
    • $150,000

      Vacant Lot Ready for Construction

      Cleared lot on main road, ready for new construction.
      3534 Mainer St, Houston, TX 77021
      View Details
    • $299,000

      Commercial Lot For Sale

      Commercial lot suitable for development in a convenient location.
      6602 Cullen Blvd, Houston, TX 77021
      View Details
    • $140,000

      Land Near Medical Center

      Two combined lots near the Medical Center totaling 15,000 sqft.
      6710 New York St, Houston, TX 77021
      View Details

    Similar Nearby for Lease

    • $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
    • $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
      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
    • $10 SF/Yr
      18,381 SF

      Houston Medical & Creative Office Space

      Prime Houston location, two suites available.
      6102 Scott St, Houston, TX 77021
      View Details
    • $19 SF/Yr
      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
    • $15 SF/Yr
      276,000 SF

      Village at Palm Center Office Suites

      Houston, TX Office Space Available
      5110 Griggs Rd, 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.
    5090 Griggs Rd
    Houston, TX 77021-3210
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.