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

    6423 Richmond Ave Houston, TX 77057-5930

    • Strip malls
    • 8,073 SF
    • 1.62 lot acres
    OFF-MARKET
    Value Estimations
    $690,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4381260
    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

    • Lotus Skin Spa / Skin Care Clinic
    • Sterling Imaging LLC / Medical Diagnostic Imaging Center
    • SHEK SALON&HAIR BOUTIQUE / Hair Salon
    • Aromantic Perfumes Store / Perfume Store
    • Champions League Performance Facility / Gym / Personal Trainer

    Property Details for 6423 Richmond Ave

    Year built
    1979
    Construction
    STEEL FRAME
    Lot size
    1.62 lot acres
    Property size
    8,073 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    460980010026
    APU
    460980010026

    Description

    This single-tenant retail space, totaling 1,580 square feet, is situated in a 24,240 square foot strip center built in 1979. The property sits on a 1.62-acre lot and enjoys excellent visibility and accessibility. Located conveniently near the Greater Uptown area, it's only three miles west of the Galleria Mall, providing significant exposure to a large consumer base. The property benefits from its proximity to Wisdom High School, with over 2,000 students, creating a consistent flow of potential customers. Strategic placement near major thoroughfares, including I-69/US-59, Westpark Tollway, and I-610, ensures easy access for both customers and employees. High traffic counts further enhance its appeal, with 18,390 vehicles per day on Richmond Avenue and 35,000 vehicles per day on Hillcroft Avenue (S. Voss Rd.). This one-story building presents a fantastic opportunity for businesses seeking a well-located retail space with high visibility and convenient access to major transportation arteries and a substantial population base. The available suite is designated as Suite N.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $690,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $905,000
      RESTAURANT
      $660,000
      AUTO REPAIR, GARAGE
      $645,000
      WAREHOUSE, STORAGE
      $450,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4994
    Latitude
    29.731
    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
    $58,329
    $2,475,375
    $422,037
    $2,897,412
    -
    $2,475,375
    $422,037
    $2,897,412

    Comparable in this City

    • Value Estimation
      $460,000
      10,482 SF

      6306 Richmond Ave

      SHOPPING CENTER, STRIP CENTER • 10,482 SF
      6306 Richmond Ave, Houston, TX 77057-5906
      View Details
    • Value Estimation
      $715,000
      23,795 SF

      5709 Woodway Dr

      SHOPPING CENTER, STRIP CENTER • 23,795 SF
      5709 Woodway Dr, Houston, TX 77057-1522
      View Details
    • Value Estimation
      $395,000
      18,856 SF

      6345 Windswept Ln

      SHOPPING CENTER, STRIP CENTER • 18,856 SF
      6345 Windswept Ln, Houston, TX 77057-7209
      View Details
    • Value Estimation
      $630,000
      20,595 SF

      6429 Westheimer Rd

      SHOPPING CENTER, STRIP CENTER • 20,595 SF
      6429 Westheimer Rd, Houston, TX 77057-5105
      View Details
    • Value Estimation
      $560,000
      16,968 SF

      6345 Westheimer Rd

      SHOPPING CENTER, STRIP CENTER • 16,968 SF
      6345 Westheimer Rd, Houston, TX 77057-5103
      View Details
    • Value Estimation
      $580,000
      24,531 SF

      5757 Westheimer Rd

      SHOPPING CENTER, STRIP CENTER • 24,531 SF
      5757 Westheimer Rd, Houston, TX 77057-5749
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2.74 Acres

      Richmond Ave. Retail Opportunity

      Galleria Area, High-Traffic Retail Space
      5800 Richmond Ave, Houston, TX 77057
      View Details
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      16,194 SF

      Luxury Spa & Rooftop Restaurant

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      Prime Uptown Houston Bar

      12,695 SF Bar, High Visibility
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      2.30 Acres

      Galleria Area Development Land

      2.3 Acres, Prime Houston Location
      6111 Richmond Ave, Houston, TX 77057
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    • $220,000
      1,177 SF

      Tanglewood Adjacent Condo with Garage

      Spacious 2 bed, 2 bath condo with attached 2-car garage.
      1201 Bering Dr, Houston, TX 77057
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    • $224,999

      Updated Condo with Modern Comfort

      Updated 2-bedroom, 1.5-bath condo with modern finishes and amenities.
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    Similar Nearby for Lease

    • $45 SF/Yr
      6,047 SF

      Houston Retail Space Available

      Prime San Felipe Shopping Center Space
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    • Contact for pricing
      96,655 SF

      Woodway Collection: Galleria Retail Space

      Galleria retail space; two suites available.
      1407 Voss Rd, Houston, TX 77057
      View Details
    • Contact for pricing
      800 SF

      Westheimer Plaza Retail Space Available

      Galleria area retail space; high traffic, pylon signage.
      5757 Westheimer Rd, Houston, TX 77057
      View Details
    • $38 SF/Yr
      1,260 SF

      Woodway Plaza Retail Space Available

      Prime Tanglewood Retail, 1,260 SF Available
      5775 Woodway Dr, Houston, TX 77057
      View Details
    • Contact for pricing
      200 SF

      Houston Commercial Kitchen Space

      Prime Ghost Kitchen: 250 sq ft, Harris County.
      5832 Fairdale Ln, Houston, TX 77057
      View Details
    • Contact for pricing
      117,529 SF

      Westhill Village Retail Space

      Houston medical/dental suites available.
      7501 Westheimer Rd, Houston, TX 77057
      View Details
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    6423 Richmond Ave
    Houston, TX 77057-5930
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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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