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    5700 Bellaire Blvd Houston, TX 77081
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    Property profile & analytics

    5700 Bellaire Blvd Houston, TX 77081

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    • Strip malls
    • 39,982 SF
    • 3.72 lot acres
    For Lease
    $860,000
    View Listing →
    Retail Spaces Available For Rent For Lease
    $860,000
    8,863 SF

    Retail Spaces Available For Rent

    Retail spaces available, ranging from 1,280 to 8,863 square feet.

    5700 Bellaire Blvd, Houston, TX 77081
    View Listing
    Property ID
    US83-4082531
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 5700 Bellaire Blvd

    Year built
    2003
    Construction
    STEEL FRAME
    Lot size
    3.72 lot acres
    Property size
    39,982 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    1257240010001
    APU
    1257240010001

    Description

    This exceptional retail opportunity is located at 5700 Bellaire Boulevard in Houston, Texas, zip code 77081. The property, known as Plaza Del Rey & El Mercadito, offers a total of 58,646 square feet of retail space, currently featuring five available units ranging from 998 to 2,500 square feet. This multi-tenant property presents a unique chance to establish or expand your business in a vibrant Houston neighborhood. The property's prime location on Bellaire Boulevard ensures high visibility and accessibility for customers. The address is easily identifiable and benefits from significant foot and vehicular traffic. The individual spaces are adaptable to a variety of retail uses, making it suitable for a range of businesses. This is an excellent investment opportunity for businesses seeking a strong presence in a bustling commercial area of Houston. The property's size and layout offer flexibility for tenants, allowing for customization to meet specific business needs. Detailed floor plans and lease terms are available upon request. Don't miss this chance to secure your space in this thriving retail center. Contact us today to learn more about leasing opportunities and explore the potential of this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,280,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,335,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4815
    Latitude
    29.7061
    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
    $181,332
    $3,240,140
    $5,940,424
    $9,180,564
    -
    $3,240,140
    $5,940,424
    $9,180,564

    Comparable in this City

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    • Value Estimation by Request
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      6102 Bissonnet St

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      6611 Chimney Rock Rd

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      6101 Glenmont Dr

      SHOPPING CENTER, STRIP CENTER • 11,600 SF
      6101 Glenmont Dr, Houston, TX 77081-1471
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    • Value Estimation by Request
      10,500 SF

      5815 Bellaire Blvd

      SHOPPING CENTER, STRIP CENTER • 10,500 SF
      5815 Bellaire Blvd, Houston, TX 77081-5520
      View Details
    • Value Estimation
      $530,000
      12,830 SF

      5427 Bissonnet St

      SHOPPING CENTER, STRIP CENTER • 12,830 SF
      5427 Bissonnet St, Houston, TX 77081-6636
      View Details

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      10,000 SF

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      Corner Lot Near Galleria

      Commercial land located near the Galleria and Texas Medical Center.
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    Similar Nearby for Lease

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      1,950 SF

      Retail Center on Bellaire Boulevard

      Retail center with high traffic and frontage exposure.
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      Houston Retail Space For Lease

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      Retail Space in Houston Center

      Retail space for lease in a densely populated Houston area.
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      Retail Center on Chimney Rock

      Retail center built in 2012 with diverse tenant mix.
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      Retail Space on Chimney Rock

      Retail property available for lease on Chimney Rock Road.
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      View Details
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      1,150 SF

      Retail Space on Hillcroft Avenue

      Retail space available for lease in Houston, Texas.
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      View Details
    View Listing
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    Houston, TX 77081
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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.

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