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    6955 Portwest Dr Houston, TX 77024
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    6955 Portwest Dr Houston, TX 77024

    View on Map
    • Warehouses
    • 38,040 SF
    • 2.23 lot acres
    For Lease
    $2,690,000
    View Listing →
    Portwest Drive Specialty Property For Lease
    $2,690,000
    2,760 SF

    Portwest Drive Specialty Property

    2760 square foot specialty property available for rent.

    6955 Portwest Drive, Houston, TX
    View Listing
    Property ID
    US83-4037273
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Heights Assembly of God Church / Church
    • Skyline Art / Art Gallery
    • Action Behavior Centers - ABA Therapy for Autism / Pediatrician
    • Kate Davis / Physician / Medical Clinic
    • Pursuit Church / Church

    Property Details for 6955 Portwest Dr

    Year built
    1985
    Construction
    STEEL FRAME
    Lot size
    2.23 lot acres
    Property size
    38,040 SF
    Property type
    Warehouses
    APN
    1146970020005
    APU
    1146970020005

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,688,000
      Market price range: $1.04M - $2.87M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,860,000
      Current use
      RESTAURANT
      $3,845,000
      Change: +106% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,550,000
      Change: +91% Conversion: Easy
      MEDICAL BUILDING
      $2,430,000
      Change: +30% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,280,000
      Change: +22% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4509
    Latitude
    29.7809
    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
    2023
    $114,425
    $1,457,865
    $4,136,264
    $5,594,129
    -
    $1,457,865
    $4,136,264
    $5,594,129

    Comparable in this City

    • Value Estimation
      $1,000,000
      11,920 SF

      7825 Katy Fwy

      MINI-WAREHOUSE, STORAGE • 11,920 SF
      7825 Katy Fwy, Houston, TX 77024-2005
      View Details
    • Value Estimation
      $3,260,000
      43,182 SF

      7021 Portwest Dr

      WAREHOUSE, STORAGE • 43,182 SF
      7021 Portwest Dr, Houston, TX 77024-8029
      View Details
    • Value Estimation
      $1,240,000
      18,850 SF

      8560 Katy Fwy

      WAREHOUSE, STORAGE • 18,850 SF
      8560 Katy Fwy, Houston, TX 77024-1847
      View Details
    • Value Estimation
      $2,515,000
      33,300 SF

      7020 Portwest Dr

      WAREHOUSE, STORAGE • 33,300 SF
      7020 Portwest Dr, Houston, TX 77024-8040
      View Details
    • Value Estimation
      $1,550,000
      23,482 SF

      7310 Old Katy Rd

      WAREHOUSE, STORAGE • 23,482 SF
      7310 Old Katy Rd, Houston, TX 77024-2116
      View Details
    • Value Estimation
      $3,060,000
      37,300 SF

      7715 Katy Fwy

      MINI-WAREHOUSE, STORAGE • 37,300 SF
      7715 Katy Fwy, Houston, TX 77024-2003
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      142,400 SF

      Houston Warehouse Space for Lease

      142,400 square foot warehouse space available for lease.
      7110 Old Katy Rd, Houston, TX 77024
      View Details
    • Contact for pricing
      7,933 SF

      Industrial Space Available For Lease

      7,933 square feet of warehouse/industrial space for lease.
      9434 Old Katy Rd, Houston, TX 77024
      View Details
    • Contact for pricing
      63,986 SF

      Portwest Drive Warehouse Space

      63,986 sqft warehouse space available for lease.
      6700 Portwest Dr, Houston, TX 77024
      View Details
    • Contact for pricing

      Westport Business Park Flex Space

      Flex space in Westport Business Park with I-10 access.
      6925 Portwest Dr, Houston, TX 77024
      View Details
    • Contact for pricing
      18,995 SF

      Portwest Drive Flex / Industrial Space

      Flex / industrial space with excellent highway visibility and access.
      6611 Portwest Dr, Houston, TX 77024
      View Details
    • Contact for pricing
      38,200 SF

      Houston Flex Space For Rent

      38,200 sqft flex space conveniently located in Houston, TX.
      6975 Portwest Dr, Houston, TX 77024
      View Details
    View Listing
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    6955 Portwest Dr
    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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