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    Property profile & analytics

    7007 Old Katy Rd Houston, TX 77024-2109

    • Sports & entertainment properties
    • 42,160 SF
    • 11.87 lot acres
    OFF-MARKET
    Value Estimations
    $1,820,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0211951
    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

    • Wildlife Center of Texas / Veterinary Clinic
    • Houston SPCA / Animal Shelter / Pet Adoption Service

    Property Details for 7007 Old Katy Rd

    Year built
    1995
    Construction
    CONCRETE BLOCKS
    Lot size
    11.87 lot acres
    Property size
    42,160 SF
    Property type
    Sports & entertainment properties
    APN
    1366380010001
    APU
    1366380010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,819,000
      Market price range: $1.04M - $3.20M

    • Alternative Use

      Use
      Estimation
      RECREATIONAL/ENTERTAINMENT (GENERAL)
      $1,820,000
      Current use
      MEDICAL BUILDING
      $2,690,000
      Change: +48% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,525,000
      Change: +39% Conversion: Difficult
      WAREHOUSE, STORAGE
      $2,065,000
      Change: +13% Conversion: Difficult
      RETAIL STORES
      $1,730,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4415
    Latitude
    29.7807
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,250 SF

      Memorial Vlg Dr

      RECREATIONAL, ENTERTAINMENT • 1,250 SF
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    • Value Estimation
      $1,025,000
      32,007 SF

      923 Bunker Hl Rd, Unit 40

      BOWLING ALLEY • 32,007 SF
      923 Bunker Hl Rd, Houston, TX 77024-1301
      View Details
    • Value Estimation
      $695,000
      11,367 SF

      9950 Memorial Dr

      COUNTRY CLUB • 11,367 SF
      9950 Memorial Dr, Houston, TX 77024-3402
      View Details
    • Value Estimation
      $2,350,000
      46,549 SF

      10709 Memorial Dr

      COUNTRY CLUB • 46,549 SF
      10709 Memorial Dr, Houston, TX 77024-7604
      View Details
    • Value Estimation by Request
      14,244 SF

      12777 Queensbury Ln

      THEATER (MOVIE) • 14,244 SF
      12777 Queensbury Ln, Houston, TX 77024-4140
      View Details
    • Value Estimation by Request
      0.77 Acres

      Old Katy Rd

      VACANT COMMERCIAL LAND • 0.77 Acres
      Old Katy Rd, Houston, TX 77024
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      2,309 SF

      Retail Space Available For Rent

      Commercial retail space available for rent in Houston, TX.
      2305-2323 Wirt Rd, Houston, TX 77024
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      90,027 SF

      Executive Suites - Houston, TX

      Prime Office Space Available Now
      7155 Old Katy Rd, Houston, TX 77024
      View Details
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      1,246 SF

      Quiet Home in Family Community

      Located in a desirable area with recent renovations and landscaping.
      12633 Memorial Dr, Houston, TX 77024
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    • Contact for pricing
      2,074 SF

      Retail Space with I-10 Frontage

      Retail space with high visibility and pylon signage opportunity.
      7613 Katy Fwy, Houston, TX 77024
      View Details
    • Contact for pricing
      15,503 SF

      Office/Flex Space Available For Rent

      Office and flex space available for sublease until 2027.
      6801 Portwest Dr, Houston, TX 77024
      View Details
    • $32 SF/Yr
      15,387 SF

      Katy Freeway Retail Space

      Houston Retail Opportunity: 3,874 SF Available
      7613 Katy Fwy, Houston, TX 77024
      View Details
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    7007 Old Katy Rd
    Houston, TX 77024-2109
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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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