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

    7506 Martin Luther King Blvd Houston, TX 77033

    • Grocery and convenience stores
    • 4,744 SF
    • 1.15 lot acres
    For Lease
    View listing
    $19 SF/Yr
    Value Estimations
    $560,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5870934
    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

    • Fuel Depot 27 / Deli / Gas Station
    • JUST IN TIME TAX HOUSTON / Tax Preparation Service
    • ATM (ATM Link, Inc.) / Atm
    • Lala’s Kitchen “Original Homemade Lady “LLC / Food Court / Restaurant
    • Cricket Wireless Authorized Retailer / Cell Phone Store

    Property Details for 7506 Martin Luther King Blvd

    Year built
    2019
    Construction
    CONCRETE BLOCKS
    Lot size
    1.15 lot acres
    Property size
    4,744 SF
    Property type
    Grocery and convenience stores
    APN
    1246650010003
    APU
    1246650010003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $615,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $500,000
      Market price range: $247k - $500k

    • Alternative Use

      Use
      Estimation
      SERVICE STATION (FULL SERVICE)
      $375,000
      Current use
      COMMERCIAL (GENERAL)
      $760,000
      Change: +102% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $445,000
      Change: +18% Conversion: Difficult
      RETAIL STORES
      $405,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.337
    Latitude
    29.6734
    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
    $53,159
    $552,475
    $2,024,576
    $2,577,051
    -
    $552,475
    $2,024,576
    $2,577,051

    Comparable in this City

    • Value Estimation
      $7,555,000
      75,388 SF

      5600 Mykawa Rd

      GROCERY, SUPERMARKET • 75,388 SF
      5600 Mykawa Rd, Houston, TX 77033-1045
      View Details
    • Value Estimation by Request
      6,400 SF

      7603 Martin Luther King Blvd

      CONVENIENCE STORE (W/FUEL PUMP) • 6,400 SF
      7603 Martin Luther King Blvd, Houston, TX 77033-2011
      View Details
    • Value Estimation by Request
      2,824 SF

      5122 Pershing St

      CONVENIENCE STORE • 2,824 SF
      5122 Pershing St, Houston, TX 77033
      View Details
    • Value Estimation by Request
      4,398 SF

      6850 Martin Luther King Blvd

      CONVENIENCE STORE (W/FUEL PUMP) • 4,398 SF
      6850 Martin Luther King Blvd, Houston, TX 77033-1918
      View Details
    • Value Estimation by Request
      2,320 SF

      6154 Bellfort St

      CONVENIENCE STORE • 2,320 SF
      6154 Bellfort St, Houston, TX 77033-1216
      View Details
    • Value Estimation by Request
      5,256 SF

      6500 Martin Luther King Blvd

      CONVENIENCE STORE (W/FUEL PUMP) • 5,256 SF
      6500 Martin Luther King Blvd, Houston, TX 77033-1742
      View Details

    Similar Nearby for Sale

    • $350,000
      1,575 SF

      Free-Standing Building Near Downtown

      Versatile property suitable for various business uses near downtown.
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    • $300,000

      Storefront Property in Houston

      Commercial or residential storefront property for sale in Houston.
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    • $275,000

      Retail Property For Sale

      Retail property available for purchase in Houston, Texas.
      5302 Bataan Rd, Houston, TX 77033
      View Details
    • Contact for pricing
      47,715 SF

      Houston Manufacturing Facility

      1.46-acre lot, 47,715 SF, newly renovated
      6015 Murphy St, Houston, TX 77033
      View Details
    • $134,900

      Residential Land in Prime Location

      Rare corner lot for building a dream home or investment.
      4746 Reed Rd, Houston, TX 77033
      View Details
    • $5,379,000

      Residential Land in Gated Community

      Land for 113 single-family homes in Houston gated community.
      5200 Pederson St, Houston, TX 77033
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    Similar Nearby for Lease

    • $19 SF/Yr
      5,236 SF

      Retail Space on Martin Luther

      Retail space available for lease on Martin Luther King.
      7506 Martin Luther King Blvd, Houston, TX 77033
      View Details
    • $1,400 /Mo
      900 SF

      Updated Two-Bedroom Unit in Sunnyside

      Modern two-bedroom unit with stainless appliances, near Medical Center.
      4735 Redbud St, Houston, TX 77033
      View Details
    • Contact for pricing

      Houston Land: Calhoun Rd Opportunity

      Prime 0.5-acre commercial lot in Houston.
      8303 Calhoun Rd, Houston, TX 77033
      View Details
    • $1,600 /Mo

      New Three-Bedroom Duplex Unit

      New 3-bedroom, 2.5-bath duplex unit near Medical Centre.
      5602 Hirondel St, Houston, TX 77033
      View Details
    • Contact for pricing
      119,805 SF

      New Class A Distribution Facility

      New 119,805 SF distribution facility for lease in South Houston.
      5415 South Loop E, Houston, TX 77033
      View Details
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    Houston, TX 77033
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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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