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    Property profile & analytics

    7880 San Felipe St Piney Point Village, TX 77024

    • Office buildings
    • 43,190 SF
    • 1.51 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2443044
    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

    • Smith Brittany W / Physician
    • First Exchange Corporation / Loan Service
    • Ticker Tape Investments / Financial Advisor
    • The Exercise Coach - Memorial / Gym & Fitness Center
    • Mikah A. Montez, MS / Physician

    Property Details for 7880 San Felipe St

    Year built
    1980
    Construction
    STEEL FRAME
    Lot size
    1.51 lot acres
    Property size
    43,190 SF
    Property type
    Office buildings
    APN
    410280040056
    APU
    410280040056

    Description

    7880 San Felipe Street in Houston, Texas, presents a unique opportunity for businesses seeking executive office space in a prime location. This multi-tenant office building, totaling 42,400 square feet, boasts a prestigious address in Piney Point Village, nestled amongst upscale residential neighborhoods. Currently, there is 19,218 square feet of vacant space available, offering flexible options ranging from smaller suites to larger areas. The building underwent extensive renovations in 2019, resulting in a modern and efficient workspace. Upgrades include a new HVAC system, updated elevator cabs, energy-efficient lighting, and noise-absorbing ceiling tiles, creating a comfortable and productive environment. The building's convenient location provides easy access to restaurants and retail amenities within walking distance. Ample parking is available, with a ratio of 4 spaces per 1,000 square feet. The building is located in Harris County, Texas, with a zip code of 77024. This property offers a blend of sophisticated surroundings and modern amenities, making it an ideal location for discerning businesses. The building features elevators for convenient access to all floors.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,688,000
      Market price range: $403k - $2.58M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,690,000
      Current use
      MEDICAL BUILDING
      $2,755,000
      Change: +63% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,665,000
      Change: +58% Conversion: Difficult
      RETAIL STORES
      $2,130,000
      Change: +26% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $1,445,000
      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
    -95.506
    Latitude
    29.7516
    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
    $77,703
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $625,000
      12,648 SF

      7600 San Felipe St

      OFFICE BUILDING • 12,648 SF
      7600 San Felipe St, Houston, TX 77063-1703
      View Details
    • Value Estimation
      $1,010,000
      167,228 SF

      7676 Woodway Dr

      OFFICE BUILDING • 167,228 SF
      7676 Woodway Dr, Houston, TX 77063-1526
      View Details
    • Value Estimation
      $970,000
      52,940 SF

      8403 Westglen Dr

      OFFICE BUILDING • 52,940 SF
      8403 Westglen Dr, Houston, TX 77063-6311
      View Details
    • Value Estimation by Request
      4,575 SF

      3949 Ann Arbor Dr

      OFFICE BUILDING • 4,575 SF
      3949 Ann Arbor Dr, Houston, TX 77063-6301
      View Details
    • Value Estimation
      $505,000
      14,948 SF

      3950 Braxton Dr

      OFFICE BUILDING • 14,948 SF
      3950 Braxton Dr, Houston, TX 77063-6327
      View Details
    • Value Estimation
      $590,000
      23,196 SF

      7915 Westglen Dr

      OFFICE BUILDING • 23,196 SF
      7915 Westglen Dr, Houston, TX 77063-6409
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      2500 Fondren Rd, Houston, TX 77063
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    • $14 SF/Yr
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    • $13 SF/Yr
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    • $23 SF/Yr
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      Prime Houston Office Space

      Executive & Medical Suites Available
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    • $23 SF/Yr
      1,196 SF

      Office Space for Rent

      Office space available for lease in Houston, TX.
      7575 San Felipe St, Houston, TX 77063
      View Details
    • $24 SF/Yr
      18,670 SF

      Office Space with Bayou Views

      Office space for rent with views and premier location.
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    7880 San Felipe St
    Piney Point Village, 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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