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    Property profile & analytics

    8501 Broadway St Houston, TX 77061-2267

    • Garden apartment buildings
    • 11,928 SF
    • 8.92 lot acres
    OFF-MARKET
    Value Estimations
    $1,060,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0839169
    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

    • The Plaza of Hobby Airport / Apartment Complex
    • Russell's Inc / Take-out & Catering / Catering Service
    • Plaza At Hobby Airport / Apartment Complex
    • HOT YELLA RED / Theater & Performing Art Venue / Nightclub

    Property Details for 8501 Broadway St

    Year built
    1975
    Construction
    BRICK
    Lot size
    8.92 lot acres
    Property size
    11,928 SF
    Property type
    Garden apartment buildings
    APN
    402390000078
    APU
    402390000078

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $973,000
      Market price range: $271k - $973k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,605,000
      AUTO REPAIR, GARAGE
      $1,300,000
      RESTAURANT
      $1,205,000
      OFFICE BUILDING
      $830,000
      MEDICAL BUILDING
      $760,000
      RETAIL STORES
      $755,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.2761
    Latitude
    29.667
    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
    $378,744
    $1,943,255
    $12,259,280
    $14,202,535
    -
    $1,943,255
    $12,259,280
    $14,202,535

    Comparable in this City

    • Value Estimation
      $615,000
      7,524 SF

      7900 Morley St, Unit 292

      GARDEN APT, COURT APT (5+ UNITS) • 7,524 SF
      7900 Morley St, Houston, TX 77061-3068
      View Details
    • Value Estimation
      $990,000
      10,776 SF

      8751 Broadway St, Unit 216

      GARDEN APT, COURT APT (5+ UNITS) • 10,776 SF
      8751 Broadway St, Houston, TX 77061-2264
      View Details
    • Value Estimation by Request
      1,518 SF

      8800 Broadway St, Unit 306

      GARDEN APT, COURT APT (5+ UNITS) • 1,518 SF
      8800 Broadway St, Houston, TX 77061-3000
      View Details
    • Value Estimation
      $645,000
      3,618 SF

      7615 Grahamcrest Dr, Unit 49

      GARDEN APT, COURT APT (5+ UNITS) • 3,618 SF
      7615 Grahamcrest Dr, Houston, TX 77061-1600
      View Details
    • Value Estimation by Request
      9,162 SF

      7711 Bellfort St, Unit 41

      GARDEN APT, COURT APT (5+ UNITS) • 9,162 SF
      7711 Bellfort St, Houston, TX 77061-1130
      View Details
    • Value Estimation
      $500,000
      5,496 SF

      8900 Glencrest St, Unit 208

      GARDEN APT, COURT APT (5+ UNITS) • 5,496 SF
      8900 Glencrest St, Houston, TX 77061-3070
      View Details

    Similar Nearby for Sale

    • $599,500
      Pending

      Historic Multifamily Property Near Hobby

      Three homes near Hobby Airport with income-generating potential.
      7338 Fauna St, Houston, TX 77061
      View Details
    • $549,000

      Houston Fourplex Near Hobby Airport

      Fourplex with 2 and 1-bedroom units near Hobby Airport.
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    • $549,000

      Houston Fourplex Near Hobby Airport

      Fourplex with 2 and 1-bedroom units near Hobby Airport.
      6703 Biggs Ct, Houston, TX 77061
      View Details
    • $193,990
      Pending

      Tri-Level Townhome in Gated Community

      Well-maintained, move-in ready townhome near Hobby Airport.
      8705 Bryam St, Houston, TX 77061
      View Details
    • $1,200,000
      1.70 Acres

      Hinman St. Commercial Land - Houston

      1.7-Acre Lot, Hobby Airport Proximity
      8905 Hinman St, Houston, TX 77061
      View Details
    • $2,650,000
      31,997 SF

      Bellfort St Retail Center

      Houston, TX: Prime Commercial Property
      7975 Bellfort Ave, Houston, TX 77061
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      2,000 SF

      Retail Space with Drive-Through Potential

      End-cap retail space suitable for drive-through restaurant.
      7241 Monroe Rd, Houston, TX 77061
      View Details
    • $0.50 SF/Yr
      6,705 SF

      Industrial Space Available For Lease

      6,705 SF industrial space with office available for lease.
      7803 Hansen Rd, Houston, TX 77061
      View Details
    • Contact for pricing
      18,000 SF

      Houston Warehouse Space For Lease

      18,000 SF warehouse near I-45 and Beltway 8.
      8313 Braniff St, Houston, TX 77061
      View Details
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    8501 Broadway St
    Houston, TX 77061-2267
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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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