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    Property profile & analytics

    6516 Westheimer Rd Houston, TX 77057-5116

    • Strip malls
    • 27,601 SF
    • 2.79 lot acres
    OFF-MARKET
    Value Estimations
    $820,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9887662
    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

    • Bedrock City Comic Company / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center
    • Bedrock City Comic Co / (Bike/Boat/Book/etc) Store / Newspaper & Magazine
    • Apartment Living Locators / Real Estate Agency
    • Top Shelf Staffing / Marketing & Advertising / Event Planning
    • Teppay / Restaurant

    Property Details for 6516 Westheimer Rd

    Year built
    1975
    Construction
    CONCRETE BLOCKS
    Lot size
    2.79 lot acres
    Property size
    27,601 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    1356390010001
    APU
    1356390010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $815,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $823,000
      Market price range: $506k - $980k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $730,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $955,000
      Change: +31% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4997
    Latitude
    29.7384
    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
    $125,091
    $5,462,865
    $1,649,232
    $7,112,097
    -
    $5,462,865
    $1,649,232
    $7,112,097

    Comparable in this City

    • Value Estimation
      $665,000
      35,280 SF

      6425 San Felipe St

      SHOPPING CENTER, STRIP CENTER • 35,280 SF
      6425 San Felipe St, Houston, TX 77057-2705
      View Details
    • Value Estimation
      $680,000
      20,442 SF

      5775 San Felipe St

      SHOPPING CENTER, STRIP CENTER • 20,442 SF
      5775 San Felipe St, Houston, TX 77057
      View Details
    • Value Estimation
      $620,000
      34,768 SF

      3201 Hillcroft St

      SHOPPING CENTER, STRIP CENTER • 34,768 SF
      3201 Hillcroft St, Houston, TX 77057-6148
      View Details
    • Value Estimation
      $770,000
      53,766 SF

      3330 Hillcroft St

      SHOPPING CENTER, STRIP CENTER • 53,766 SF
      3330 Hillcroft St, Houston, TX 77057-5800
      View Details
    • Value Estimation
      $995,000
      49,015 SF

      6401 Woodway Dr

      SHOPPING CENTER, STRIP CENTER • 49,015 SF
      6401 Woodway Dr, Houston, TX 77057-1669
      View Details
    • Value Estimation by Request
      17,993 SF

      3101 Fountain Vw Dr

      SHOPPING CENTER, STRIP CENTER • 17,993 SF
      3101 Fountain Vw Dr, Houston, TX 77057-6201
      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
    • Contact for pricing
      8,907 SF

      Retail Space Available in Houston

      Retail property available for lease in Houston, Texas.
      2613 Potomac Dr, Houston, TX 77057
      View Details
    • Contact for pricing
      16,194 SF

      Luxury Spa & Rooftop Restaurant

      Houston, TX Turn-Key Opportunity
      0 Potomac Dr, Houston, TX 77057
      View Details
    • Contact for pricing
      12,695 SF

      Prime Uptown Houston Bar

      12,695 SF Bar, High Visibility
      6213 Richmond Ave, Houston, TX 77057
      View Details
    • Contact for pricing
      2.30 Acres

      Galleria Area Development Land

      2.3 Acres, Prime Houston Location
      6111 Richmond Ave, Houston, TX 77057
      View Details
    • $220,000

      Tanglewood Adjacent Condo with Garage

      Spacious 2 bed, 2 bath condo with attached 2-car garage.
      1201 Bering Dr, Houston, TX 77057
      View Details

    Similar Nearby for Lease

    • 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
    • $45 SF/Yr
      6,047 SF

      Houston Retail Space Available

      Prime San Felipe Shopping Center Space
      6363 San Felipe St, Houston, TX 77057
      View Details
    • Contact for pricing

      Retail Space in Galleria/Uptown District

      Retail space available in the affluent Galleria/Uptown area.
      5702-5710 San Felipe St, Houston, TX 77057
      View Details
    • Contact for pricing
      693 SF

      Retail Space Available For Rent

      Retail space available for lease in Houston, Texas.
      2633 Winrock Blvd, Houston, TX 77057
      View Details
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    6516 Westheimer Rd
    Houston, TX 77057-5116
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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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