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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    600 Memorial City Way Houston, TX 77024

    • Turn key restaurants
    • 9,581 SF
    • 1.67 lot acres
    OFF-MARKET
    Value Estimations
    $750,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4155948
    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

    • Turn key restaurants

    Property Details for 600 Memorial City Way

    Year built
    2010
    Construction
    CONCRETE BLOCKS
    Lot size
    1.67 lot acres
    Property size
    9,581 SF
    Property type
    Turn key restaurants
    APN
    952550010011
    APU
    952550010011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $750,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $970,000
      Current use
      AUTO REPAIR, GARAGE
      $895,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.5429
    Latitude
    29.7813
    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
    $86,066
    $3,632,900
    $5,259,380
    $8,892,280
    -
    $3,632,900
    $5,259,380
    $8,892,280

    Comparable in this City

    • Value Estimation
      $150,000
      6,203 SF

      9005 Katy Fwy

      RESTAURANT • 6,203 SF
      9005 Katy Fwy, Houston, TX 77024-1601
      View Details
    • Value Estimation
      $520,000
      8,546 SF

      8943 Katy Fwy, Unit 1

      RESTAURANT • 8,546 SF
      8943 Katy Fwy, Houston, TX 77024-1743
      View Details
    • Value Estimation
      $340,000
      16,502 SF

      9827 Katy Fwy

      RESTAURANT • 16,502 SF
      9827 Katy Fwy, Houston, TX 77024-1201
      View Details
    • Value Estimation
      $660,000
      12,510 SF

      9799 Katy Fwy

      RESTAURANT • 12,510 SF
      9799 Katy Fwy, Houston, TX 77024-1336
      View Details
    • Value Estimation
      $875,000
      17,499 SF

      10505 Katy Fwy

      RESTAURANT • 17,499 SF
      10505 Katy Fwy, Houston, TX 77024-1001
      View Details
    • Value Estimation
      $255,000
      5,626 SF

      10500 Town And Country Way

      RESTAURANT • 5,626 SF
      10500 Town And Country Way, Houston, TX 77024-2206
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,572 SF

      Established Retail Hub For Sale

      Vibrant retail center with reputable tenants in desirable location.
      14501-14509 Memorial Dr, Houston, TX 77024
      View Details
    • $12,750,000
      80,527 SF

      Grocery Anchored Retail Center For Sale

      Grocery anchored retail center with below market rents.
      5700 S Gessner Rd, Houston, TX 77024
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    • $475,000

      Remodeled Apartment in Spring Branch

      Recently remodeled apartment in a desirable Houston location.
      9333 Memorial Dr, Houston, TX 77024
      View Details
    • $1,375,000

      Memorial Lot in Prime Location

      Homesite in sought-after neighborhood with access to amenities.
      10 Legend Ln, Houston, TX 77024
      View Details
    • Contact for pricing

      Prime Land I-10 Frontage

      Land with I-10 frontage in affluent Memorial neighborhood, Houston.
      8222 Kingsbrook Rd, Houston, TX 77024
      View Details
    • $210,000

      Updated Condo Near Memorial Park

      Updated 2 bed, 2 bath condo with flexible study.
      359 N Post Oak Ln, Houston, TX 77024
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space with High Visibility

      Retail spaces available in a densely populated area.
      6002 Antoine Dr, Houston, TX 77024
      View Details
    • Contact for pricing
      6,124 SF

      Retail Space Available For Lease

      Retail space available for lease in Houston, TX.
      5817 Antoine Dr, Houston, TX 77024
      View Details
    • $33 SF/Yr
      149,309 SF

      Town & Country Office Space

      Office and retail spaces available for lease in Houston.
      10497 Town & Country Way, Houston, TX 77024
      View Details
    • $18 SF/Yr
      1,729 SF

      Retail Space with High Visibility

      Retail space with high visibility and easy highway access.
      3800-3890 S Gessner Rd, Houston, TX 77024
      View Details
    • $55 SF/Yr
      3,934 SF

      Prime Houston Retail Space

      77024 - 3,934 SF Retail Space Available
      788 Sam Houston Pkwy, Houston, TX 77024
      View Details
    • $32 SF/Yr
      15,387 SF

      Katy Freeway Retail Space

      Houston Retail Opportunity: 3,874 SF Available
      7613 Katy Fwy, Houston, TX 77024
      View Details
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    600 Memorial City Way
    Houston, TX 77024
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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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