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    Property profile & analytics

    611 Richey Rd Houston, TX 77090

    • Grocery and convenience stores
    • 2,836 SF
    • 0.96 lot acres
    OFF-MARKET
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4853589
    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

    • Texaco / Gas Station / Diesel Fuel Supplier
    • El Rincón de la Gocha / Venezuelan Restaurant
    • Richey Auto State Inspection / Vehicle Inspection
    • Auto State Inspection Hub / Vehicle Inspection Service
    • ATM (Richey Road Food Mart) / Convenience Store / Atm

    Property Details for 611 Richey Rd

    Year built
    2002
    Construction
    CONCRETE BLOCKS
    Lot size
    0.96 lot acres
    Property size
    2,836 SF
    Property type
    Grocery and convenience stores
    APN
    1226350010072
    APU
    1226350010072

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $239,000
      Market price range: $133k - $312k

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4073
    Latitude
    29.9971
    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
    $7,609
    $251,946
    $680,663
    $932,609
    -
    $251,946
    $680,663
    $932,609

    Comparable in this City

    • Value Estimation
      $295,000
      1,794 SF

      111 Rankin Rd

      CONVENIENCE STORE (W/FUEL PUMP) • 1,794 SF
      111 Rankin Rd, Houston, TX 77090-6928
      View Details
    • Value Estimation
      $520,000
      10,438 SF

      1801 Cypress Sta Dr

      CONVENIENCE STORE (W/FUEL PUMP) • 10,438 SF
      1801 Cypress Sta Dr, Houston, TX 77090-4057
      View Details
    • Value Estimation
      $625,000
      27,332 SF

      1220 Cypress Crk Pkwy

      GROCERY, SUPERMARKET • 27,332 SF
      1220 Cypress Crk Pkwy, Houston, TX 77090-3807
      View Details
    • Value Estimation
      $285,000
      2,592 SF

      16200 Ella Blvd

      CONVENIENCE STORE (W/FUEL PUMP) • 2,592 SF
      16200 Ella Blvd, Houston, TX 77090-5408
      View Details
    • Value Estimation
      $330,000
      5,772 SF

      210 Airtex Dr

      CONVENIENCE STORE (W/FUEL PUMP) • 5,772 SF
      210 Airtex Dr, Houston, TX 77090-6628
      View Details
    • Value Estimation
      $345,000
      4,512 SF

      13550 Kuykendahl Rd

      CONVENIENCE STORE (W/FUEL PUMP) • 4,512 SF
      13550 Kuykendahl Rd, Houston, TX 77090
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25,675 SF

      Neighborhood Strip Center For Sale

      Neighborhood strip center in high-growth area of Spring, Texas.
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      Versatile Retail Property For Sale

      Two buildings ideal for retail, daycare, or service operations.
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    • $4,500,000
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      Houston Retail Property on Interstate

      2.64-acre retail site with showroom, service center, and shop.
      15150 North Fwy, Houston, TX 77090
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    • Contact for pricing
      9.55 Acres

      Alexandria Office Suite Available

      Prime Alexandria Office: 623 sq ft, $800/month
      0 North Fwy, Houston, TX 77090
      View Details
    • $3,253,692
      18.91 Acres

      Houston Multifamily & Warehouse Investment

      Prime Houston location, high-yield potential.
      0 Swc Of Kuykendahl Rd & Ella Blvd, Houston, TX 77090
      View Details
    • Contact for pricing
      4.35 Acres

      I-45 Frontage Commercial Land

      Houston, TX: 4.35 acres, high traffic.
      0 North Fwy, Houston, TX 77090
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    Similar Nearby for Lease

    • $24,000
      1,100 SF

      Prime Houston Retail Space

      1,500 SF Available, High Visibility
      210 Airtex Blvd, Houston, TX 77090
      View Details
    • $22 SF/Yr
      1,800 SF

      Retail Space Available For Lease

      Retail space available for lease at Cypress Creek Parkway.
      302-430 Cypress Creek Pkwy, Houston, TX 77090
      View Details
    • $16 SF/Yr
      25 SF

      North Houston Retail Center Space

      Retail space available for lease in North Houston center.
      14755 North Fwy, Houston, TX 77090
      View Details
    • $2,000 /Mo
      1,500 SF

      Retail Space on Airtex Drive

      Retail space for lease in Houston, TX.
      210 W Airtex Dr, Houston, TX 77090
      View Details
    • $25 SF/Yr
      2,305 SF

      Champions Area Retail Space

      Retail space in North Houston with high parking ratio.
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      View Details
    • $39 SF/Yr
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      Houston Multi-Use Commercial Property

      Prime Houston location, multiple suites available.
      1319 Farm To Market 1960 Rd, Houston, TX 77090
      View Details
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    611 Richey Rd
    Houston, TX 77090
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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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