Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5701 Washington Ave Houston, TX 77007-5136
    Back to Search
    Property profile & analytics

    5701 Washington Ave, Houston, TX 77007-5136

    View on Map
    • Bars & Pubs
    • 1,980 SF
    • 0.59 lot acres
    Off-Market
    Last Sale Dec 12, 2025
    Property ID
    US82-5316525
    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

    • Rain HTX / Restaurant
    • Varsity Sporting Club / Bar & Pub / Nightclub
    • The Fun Singles, Houston Speed Dating & Singles Events / Event Planning / Wedding Service
    • Axis & Alibi / Bar & Pub

    Property Details for 5701 Washington Ave

    Year built
    1960
    Construction
    WOOD FRAME
    Lot size
    0.59 lot acres
    Property type
    Bars & Pubs
    Property subtype
    Pubs
    APN
    1323920010001
    APU
    1323920010001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 19, 2016 — Prk227 LLC Heacker,betty L Grant Deed $1.7M · Allegiance Bk
    — — Betty L Heacker — Deed Of Trust · related $500k · Trustmark National Bank
    — — Betty L Heacker — Deed Of Trust · related $467k · Texas Community Bank & Trust
    — — Betty L Heacker — Deed Of Trust · related $450k · Royal Oaks Bank Ssb

    Description

    This exceptional investment opportunity presents a 6,942 square foot bar located at 5701 Washington Ave, Houston, TX 77007. The property, built in 1960 and renovated in 2019, sits on a 25,513 square foot lot and boasts coveted frontage on Washington Ave, experiencing over 16,000 cars daily. The tenant, Rain HTX, a new concept by Show Hospitality, recently signed a new 7-year absolute NNN lease with a 5-year option, featuring annual rent increases. This provides a 7% cap rate and minimizes landlord responsibilities. The location within the Washington Corridor offers high visibility and benefits from a dense population (492,000 residents within 5 miles, 714,000+ daytime population) and high average household income ($226,000+ within 1 mile). Proximity to Memorial Park further enhances its appeal. The property's unique design and the tenant's upscale dining and entertainment concept create a strong investment opportunity with significant upside potential. The asking price is $4,628,000, translating to $666.67 per square foot. This is a management-free investment with built-in inflation protection through annual rent escalations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4197
    Latitude
    29.7706
    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
    $73,457
    $2,423,735
    $1,438,724
    $3,862,459
    -
    $2,423,735
    $1,438,724
    $3,862,459

    Comparable in this City

    • Value Estimation
      $555,000
      9,664 SF

      720 Shepherd Dr

      BAR, TAVERN
      720 Shepherd Dr, Houston, TX 77007-5353
      View Details
    • Value Estimation by Request
      3,040 SF

      3106 White Oak Dr

      BAR, TAVERN
      3106 White Oak Dr, Houston, TX 77007-2722
      View Details
    • Value Estimation by Request
      3,608 SF

      4504 Nett St

      BAR, TAVERN
      4504 Nett St, Houston, TX 77007-5414
      View Details
    • Value Estimation by Request
      2,272 SF

      2101 Washington Ave

      BAR, TAVERN
      2101 Washington Ave, Houston, TX 77007-6136
      View Details
    • Value Estimation
      $585,000
      6,309 SF

      4115 Washington Ave

      BAR, TAVERN
      4115 Washington Ave, Houston, TX 77007-5635
      View Details
    • Value Estimation
      $675,000
      4,536 SF

      3905 Washington Ave

      BAR, TAVERN
      3905 Washington Ave, Houston, TX 77007-5603
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,432 SF

      Retail Building on Houston Avenue

      1,432 SF retail building with tenant in place.
      1920 Houston Ave, Houston, TX 77007
      View Details
    • Contact for pricing
      4,764 SF

      Restaurant with Large Parking Area

      Freestanding restaurant at Heights Blvd & Center Street intersection.
      101 Heights Blvd, Houston, TX 77007
      View Details
    • Contact for pricing

      Prime Katy Freeway Gas Station Site

      High-traffic corner lot, ground lease available.
      5401 Katy Fwy, Houston, TX 77007
      View Details
    • Contact for pricing

      Freestanding Retail on Washington Avenue

      Retail/commercial building with parking in the heart of Washington corridor.
      4215 Washington Ave, Houston, TX 77007
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Hike Trail

      Retail space available for lease near Heights Hike and Bike Trail.
      3215 White Oak Dr, Houston, TX 77007
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Prime location near Downtown Houston with access to major freeways.
      4115 Washington Ave, Houston, TX 77007
      View Details
    • Contact for pricing
      1,280 SF

      Retail Space on White Oak

      Retail space suitable for restaurants, cafes, and boutique retail.
      3601-3607 White Oak Dr, Houston, TX 77007
      View Details
    • Contact for pricing

      Houston Heights Retail Space Available

      Retail and restaurant spaces for lease in desirable Houston Heights.
      2155 Durham Dr, Houston, TX 77007
      View Details
    • Contact for pricing

      Heights Mercantile Retail and Restaurant Space

      Retail and restaurant spaces in historic Heights neighborhood.
      714 Yale St, Houston, TX 77007
      View Details
    • Contact for pricing

      Charming Historic Property on Crockett

      Historic property near Washington Avenue, ideal for office or restaurant.
      2008 Crockett St, Houston, TX 77007
      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.
    5701 Washington Ave
    Houston, TX 77007-5136
    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

    Thank You for Inquiry
    5701 Washington Ave, Houston, TX, 77007
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!