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    Property profile & analytics

    5201 Spruce St Bellaire, TX 77401

    • Retail space
    • 5,250 SF
    • 0.32 lot acres
    For Lease
    View listing
    Last Sale
    Dec 30, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2226380
    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

    • Fajita Petes - Bellaire / Caterer / Tex-Mex Restaurant

    Property Details for 5201 Spruce St

    Year built
    1974
    Construction
    STEEL FRAME
    Lot size
    0.32 lot acres
    Property size
    5,250 SF
    Property type
    Retail space
    APN
    70570450001
    APU
    70570450001

    Description

    This exceptional 1,000-square-foot retail space is available for lease in a prime Bellaire, Texas location. Situated within a 5,130-square-foot building at the corner of Spruce and 5th Street, this property boasts a highly desirable location directly across from a high-volume H-E-B grocery store, attracting 2.3 million annual visits. The building, constructed in 1974 and renovated in 2022, offers a Class C space within a single-story structure. The property includes 13 parking spaces and sits on a 0.29-acre lot. This vibrant retail center is anchored by established businesses such as Fajita Pete's and The Tailored Tail, ensuring a strong tenant mix and high foot traffic. The location benefits from its proximity to Bissonnet Street, a major thoroughfare with a high volume of daily traffic (16,494 vehicles per day). The surrounding area demonstrates strong demographics, with a substantial daytime population of 333,000 within a three-mile radius and high average incomes exceeding $138,000 within a one-mile radius. This presents a unique opportunity for businesses seeking high visibility and access to a thriving customer base in a well-established Bellaire commercial district. The property is ideal for a variety of retail uses. Contact us to learn more about lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellaire
    County
    Harris
    State
    Texas
    Longitude
    -95.4706
    Latitude
    29.7076
    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
    $9,521
    $210,000
    $582,642
    $792,642
    -
    $210,000
    $582,642
    $792,642

    Comparable in this City

    • Value Estimation by Request
      4,050 SF

      4501 Bissonnet St

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    • Value Estimation by Request
      4,501 SF

      5212 Bellaire Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,501 SF
      5212 Bellaire Blvd, Bellaire, TX 77401-3902
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    • Value Estimation by Request
      5,650 SF

      5217 Cedar St

      RETAIL STORES (PERSONAL SERVICES) • 5,650 SF
      5217 Cedar St, Bellaire, TX 77401-3914
      View Details
    • Value Estimation by Request
      3,842 SF

      6601 Rice Ave, Unit 4

      RETAIL STORES (PERSONAL SERVICES) • 3,842 SF
      6601 Rice Ave, Bellaire, TX 77401-4012
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    • Value Estimation by Request
      6,000 SF

      5217 Bellaire Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      5217 Bellaire Blvd, Bellaire, TX 77401-3901
      View Details
    • Value Estimation by Request
      1,054 SF

      4912 Bissonnet St

      RETAIL STORES (PERSONAL SERVICES) • 1,054 SF
      4912 Bissonnet St, Bellaire, TX 77401-4031
      View Details

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    Similar Nearby for Lease

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      Retail Space on Bissonnet Street

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      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
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      Bellaire Blvd Retail Center

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      Bellaire Blvd Retail Center

      High-traffic retail space available in Bellaire, TX
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      Bellaire Flex Space Available

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