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    Property profile & analytics

    7503 Irvington Blvd Houston, TX 77022-3835

    • Drug stores
    • 16,366 SF
    • 1.81 lot acres
    OFF-MARKET
    Last Sale
    Jan 25, 2021
    Value Estimations
    $2,005,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1076806
    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

    • El Taconazo #4 / Restaurant

    Property Details for 7503 Irvington Blvd

    Year built
    2009
    Construction
    STEEL FRAME
    Lot size
    1.81 lot acres
    Property size
    16,366 SF
    Property type
    Drug stores
    APN
    1311220010001
    APU
    1311220010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,129,000
      Market price range: $802k - $2.13M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,405,000
      Current use
      COMMERCIAL (GENERAL)
      $3,180,000
      Change: +126% Conversion: Easy
      RESTAURANT
      $1,895,000
      Change: +35% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,645,000
      Change: +17% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,215,000
      Change: -14% Conversion: Difficult
      OFFICE BUILDING
      $1,205,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.362
    Latitude
    29.8294
    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
    $64,145
    $1,575,220
    $2,056,281
    $3,631,501
    -
    $1,575,220
    $2,056,281
    $3,631,501

    Comparable in this City

    • Value Estimation
      $1,635,000
      13,589 SF

      4314 Nn Fwy

      DRUG STORE, PHARMACY • 13,589 SF
      4314 Nn Fwy, Houston, TX 77022-6203
      View Details
    • Value Estimation
      $660,000
      4,775 SF

      625 Tidwell Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,775 SF
      625 Tidwell Rd, Houston, TX 77022-2268
      View Details
    • Value Estimation
      $775,000
      19,792 SF

      14 Tidwell Rd

      RETAIL STORES (PERSONAL SERVICES) • 19,792 SF
      14 Tidwell Rd, Houston, TX 77022-1906
      View Details
    • Value Estimation by Request
      7,740 SF

      5223 Airline Dr

      RETAIL STORES (PERSONAL SERVICES) • 7,740 SF
      5223 Airline Dr, Houston, TX 77022
      View Details
    • Value Estimation
      $655,000
      4,836 SF

      5326 Airline Dr

      RETAIL STORES (PERSONAL SERVICES) • 4,836 SF
      5326 Airline Dr, Houston, TX 77022-1904
      View Details
    • Value Estimation by Request
      2,932 SF

      1332 Crosstimbers St

      RETAIL STORES (PERSONAL SERVICES) • 2,932 SF
      1332 Crosstimbers St, Houston, TX 77022-4202
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,000 SF

      New Retail Space Available

      Up to 8,000 SF of new retail space for lease.
      925 E Tidwell Rd, Houston, TX 77022
      View Details
    • Contact for pricing
      188,980 SF

      Retail Property in Houston, Texas

      Retail property with 188980 square feet in Houston.
      7206 Fulton St, Houston, TX 77022
      View Details
    • $550,000
      1,420 SF

      Restaurant Space on Hard Corner

      1420 SF restaurant space for sale in Houston, TX.
      9322 Fulton St, Houston, TX 77022
      View Details
    • $750,000

      Two Commercial Properties on 610

      Two commercial properties on 610 Loop Feeder with high exposure.
      803 Loop N, Houston, TX 77022
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    • $225,000

      Corner Lot on 610

      Prime corner lot with high visibility and development potential.
      1327 & 1329 Loop North, Houston, TX 77022
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    • $350,000

      Unrestricted Corner Lot with Building

      Corner lot with metal building, ideal for automotive use.
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    Similar Nearby for Lease

    • Contact for pricing
      1,600 SF

      Retail Space in Busy Houston

      Commercial suite in a high-traffic Houston shopping strip.
      232 E Crosstimbers St, Houston, TX 77022
      View Details
    • Contact for pricing

      Renovated Retail Property with Cooler

      Renovated retail property with walk-in cooler on two lots.
      55 Berry Rd, Houston, TX 77022
      View Details
    • Contact for pricing

      Dominant Retail Destination in Houston

      Retail destination with national and local retailers, restaurants, and services.
      Nec Of I-45 & Crosstimbers, Houston, TX 77022
      View Details
    • Contact for pricing

      Prime Retail Space on Airline

      Bustling shopping center with high visibility and foot traffic.
      5206 Airline Dr, Houston, TX 77022
      View Details
    • New
      Contact for pricing

      Industrial Space Ready For Lease

      12,750 SF industrial space on 1.51 AC available for lease.
      8902 N Main St, Houston, TX 77022
      View Details
    • $1,500 /Mo
      994 SF

      Office Space Available For Rent

      Office space available for lease in Houston, Texas.
      4615 North Fwy, Houston, TX 77022
      View Details
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    7503 Irvington Blvd
    Houston, TX 77022-3835
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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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