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

    702 Grns Rd Houston, TX 77060

    • Strip malls
    • 15,419 SF
    • 1.61 lot acres
    OFF-MARKET
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2214595
    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

    • Strip malls

    Property Details for 702 Grns Rd

    Year built
    1977
    Construction
    STEEL FRAME
    Lot size
    1.61 lot acres
    Property size
    15,419 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    1088270000001
    APU
    1088270000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $575,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $494,000
      Market price range: $252k - $494k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $385,000
      Current use
      RETAIL STORES
      $825,000
      Change: +115% Conversion: Easy
      WAREHOUSE, STORAGE
      $710,000
      Change: +85% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $595,000
      Change: +55% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3986
    Latitude
    29.9502
    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
    $25,222
    $420,792
    $1,629,498
    $2,050,290
    -
    $420,792
    $1,629,498
    $2,050,290

    Comparable in this City

    • Value Estimation
      $665,000
      23,725 SF

      16272 Imperial Vly Dr

      SHOPPING CENTER, STRIP CENTER • 23,725 SF
      16272 Imperial Vly Dr, Houston, TX 77060-3529
      View Details
    • Value Estimation by Request
      10,480 SF

      45 Aldine Bender Rd

      SHOPPING CENTER, STRIP CENTER • 10,480 SF
      45 Aldine Bender Rd, Houston, TX 77060
      View Details
    • Value Estimation
      $580,000
      34,173 SF

      12130 Greenspoint Dr

      SHOPPING CENTER, STRIP CENTER • 34,173 SF
      12130 Greenspoint Dr, Houston, TX 77060-2002
      View Details
    • Value Estimation
      $685,000
      20,944 SF

      159 Aldine Bender Rd

      SHOPPING CENTER, STRIP CENTER • 20,944 SF
      159 Aldine Bender Rd, Houston, TX 77060-3801
      View Details
    • Value Estimation by Request
      18,696 SF

      917 Grns Rd

      SHOPPING CENTER, STRIP CENTER • 18,696 SF
      917 Grns Rd, Houston, TX 77060-1601
      View Details
    • Value Estimation
      $750,000
      21,201 SF

      416 Sam Houston E Pkwy

      SHOPPING CENTER, STRIP CENTER • 21,201 SF
      416 Sam Houston E Pkwy, Houston, TX 77060-3508
      View Details

    Similar Nearby for Sale

    • $1,500,000

      Turn-Key Car Wash Facility

      Newly renovated car wash near IAH Airport.
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      Beltway 8 Executive Office Building

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      Versatile Commercial/Industrial Property in Houston

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      Land Available on North Sam

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      Income-Producing Four-Unit Multi-Family Dwelling

      Four-unit multi-family property with strong rental income potential.
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    Similar Nearby for Lease

    • $9 SF/Yr
      1,450 SF

      Restaurant and Retail Space Available

      Second generation restaurant and retail space in busy shopping center.
      704 Greens Rd, Houston, TX 77060
      View Details
    • Contact for pricing
      1 SF

      Tulsa Welding School - Retail Space

      Prime Retail Space, Trade School Proximity
      243 Greens Rd, Houston, TX 77060
      View Details
    • $18 SF/Yr
      2,000 SF

      North Freeway Retail Spaces

      Prime Retail, I-45, Two Spaces Available
      12515 North Fwy, Houston, TX 77060
      View Details
    • $18 SF/Yr
      1,200 SF

      Retail Space Available For Lease

      Retail space available for lease with 1200 square feet.
      12515 North Fwy, Houston, TX 77060
      View Details
    • $11 SF/Yr
      5,300 SF

      Greens Road Plaza Retail Space

      Houston Retail Center - 6 Suites Available
      704 Greens Rd, Houston, TX 77060
      View Details
    • Contact for pricing
      46,175 SF

      Greenridge Commons Retail Center

      Harris County Retail Center, High Visibility
      11401 North Fwy, Houston, TX 77060
      View Details
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    702 Grns Rd
    Houston, TX 77060
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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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