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

    6502 Memorial Dr Texas City, TX 77591-4016

    • Commercial real estate
    • 1,300 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Apr 29, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3442404
    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

    • Collier LLC / Big Box & Wholesale Store / Building Supply
    • Mcmillan and Bowman / Law Firm / Insurance Agency

    Property Details for 6502 Memorial Dr

    Year built
    1973
    Lot size
    0.28 lot acres
    Property size
    1,300 SF
    Property type
    Commercial real estate
    APN
    5110-0002-0001-001
    APU
    511000020001001

    Description

    This single-tenant, 1,470-square-foot Class B medical office building is available for lease in Texas City, Texas. Located at 6502 Memorial Dr, this freestanding building sits on a 12,360-square-foot lot and offers convenient access to Highway 3 and 1764 Emmett F Lowry Expy. Built in 1973 and extensively renovated in 2023, the property features ample parking with 25 spaces. While currently configured as a medical office, its adaptable layout allows for various office uses. The building is a single story with 110-volt power and no elevator. Zoned commercial (APN: 511000020001001), this property presents a compelling opportunity for owner-users or investors seeking a prime location directly behind Mainland Hospital. The building's versatile design and convenient location make it ideal for a range of businesses. This is a rare opportunity to secure a well-maintained, recently renovated office space in a high-traffic area. The property's size and location offer excellent visibility and accessibility. Contact us to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Texas City
    County
    Galveston
    State
    Texas
    Longitude
    -94.9844
    Latitude
    29.3928
    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
    2018
    $1,245
    $18,540
    $192,940
    $211,480
    -
    $18,540
    $192,940
    $211,480

    Comparable in this City

    • Value Estimation
      $1,830,000
      43,269 SF

      1700 Hwy N Ave

      COMMERCIAL (GENERAL) • 43,269 SF
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    • Value Estimation
      $3,545,000
      38,972 SF

      1901 Amburn Rd

      COMMERCIAL (GENERAL) • 38,972 SF
      1901 Amburn Rd, Texas City, TX 77591-2488
      View Details
    • Value Estimation
      $2,650,000
      69,940 SF

      9010 Emmett F Lowry Expy

      COMMERCIAL (GENERAL) • 69,940 SF
      9010 Emmett F Lowry Expy, Texas City, TX 77591-2105
      View Details
    • Value Estimation by Request
      924 SF

      6014 Fm 1765

      COMMERCIAL (GENERAL) • 924 SF
      6014 Fm 1765, Texas City, TX 77591-3911
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    • Value Estimation by Request
      1,976 SF

      2024 Gulf Fwy

      COMMERCIAL (GENERAL) • 1,976 SF
      2024 Gulf Fwy, Texas City, TX 77591-2801
      View Details
    • Value Estimation
      $2,405,000
      18,000 SF

      3220 Gulf Fwy

      COMMERCIAL (GENERAL) • 18,000 SF
      3220 Gulf Fwy, Texas City, TX 77591-2826
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      1.09 Acres

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    Similar Nearby for Lease

    • $26 SF/Yr
      53,923 SF

      Texas City Medical Office Space

      Class A Medical Office Building, Ample Parking
      6807 Emmett F. Lowry Expwy, Texas City, TX 77591
      View Details
    • $28 SF/Yr
      3,511 SF

      Medical Office Space Available

      Medical office space for lease near HCA Houston Healthcare.
      6807 Emmett F Lowry Expy, Texas City, TX 77591
      View Details
    • $1.25 SF/Yr
      2,421 SF

      Texas City Retail Space Available

      Retail space available for lease in Texas City, TX.
      9300 Emmett F Lowry Expy, Texas City, TX 77591
      View Details
    • Contact for pricing
      1,857 SF

      Medical Office Building For Lease

      Two-story medical office building near Mainland Medical Center.
      7111 Medical Center Dr, Texas City, TX 77591
      View Details
    • Contact for pricing
      23,560 SF

      Texas City Retail Center

      Freestanding building, 23,560 SF, 2 acres
      9550 Emmett F Lowry Expy, Texas City, TX 77591
      View Details
    • $15 SF/Yr
      2,550 SF

      Retail Space Ready to Move

      Retail spaces available for rent in Texas City, TX.
      8030 Fm 1765, Texas City, TX 77591
      View Details
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    6502 Memorial Dr
    Texas City, TX 77591-4016
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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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