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Property profile & analytics
FOR LEASE
Strip malls
840 N Eldridge Pkwy, Houston, TX 77079
Entity Owned
Absentee Owner
Free & Clear
Property ID
US83-3741079
For Lease
$625,000
840 N Eldridge Pkwy, Houston, TX 77079
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1998
Construction
BRICK
Total area
13,073 SF
Lot
2.42 ac (105,285 SF)
APN
1104160000016
UPID
US83-3741079
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Ken Gerner - State Farm Insurance Agent Insurance Agency
-
Del Leatherwood - State Farm Insurance Agent Insurance Agency
-
Avila Cafe & Bakery Bakery Specialty Food Shop
-
My Suite Studio Hair Salon Nail Salon
-
NewSound Hearing Centers Hearing Aid Store Hearing Aid Repair Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$820k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$433k
Blend (final)
Blend
$625k
Owner & transaction history
MEMORIAL ELDRIDGE SRP LLC
MEMORIAL ELDRIDGE SRP LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$835,000
+142.9%
Retail stores
$805,000
+133.7%
Apartment house (5+ units)
$700,000
+103.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Houston submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$820,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$835,000
Change: +143% · Conversion: Difficult
RETAIL STORES
$805,000
Change: +134% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$700,000
Change: +104% · Conversion: Difficult
AUTO REPAIR, GARAGE
$670,000
Change: +95% · Conversion: Difficult
WAREHOUSE, STORAGE
$640,000
Change: +86% · Conversion: Difficult
Blend value · Realmo final
$625k
Range $563k – $688k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$48 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$46,121
Tax year 2022
Assessed value
$4,457,855
Assessed 2024
Previous assessed
$4,374,682
+1.9% YoY
Effective rate
1.03%
On assessed value
Assessed land
$2,884,100
Assessed improvement
$1,573,755
Land market value
$2,884,100
Improvement market value
$1,573,755
Total market value
$4,457,855
Applied tax rate
25.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1998
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
13,073 SF
Lot
2.42 ac (105,285 SF)
APN
1104160000016
UPID
US83-3741079
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$835,000
RETAIL STORES
Est. value
$805,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$700,000
AUTO REPAIR, GARAGE
Est. value
$670,000
WAREHOUSE, STORAGE
Est. value
$640,000
MEDICAL BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1998
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
2.42 ac
Current owner
From public records · entity-resolved
MEMORIAL ELDRIDGE SRP LLC
Entity
Free & Clear · 0 yrs held
Mailing address
2001 KIRBY DR STE #510, HOUSTON, TX 77019-6046
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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