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    8800 Richmond Ave Houston, TX 77063-5633
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    Property profile & analytics

    8800 Richmond Ave, Houston, TX 77063-5633

    View on Map
    • Grocery and convenience stores
    • 10,739 SF
    • 0.77 lot acres
    Off-Market
    Property ID
    US83-3718524
    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.
    Value Estimations
    $625,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Firema Shawarma / Restaurant
    • The Grill at Dukkan مطعم دكان / Restaurant
    • Betsy Lin / Pharmacy
    • Dukkan International Market (دكان هيوستن) / Specialty Food Shop / Supermarket
    • Souq International Markets (Currently Dukkan) / Grocery & Convenience Store / Food Market

    Property Details for 8800 Richmond Ave

    Year built
    2004
    Construction
    STEEL FRAME
    Lot size
    0.77 lot acres
    Property type
    Grocery and convenience stores
    APN
    973980000004
    APU
    973980000004

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 11, 2017 — Normandy Court Associates LLC Houston Pharmacy Assocs LLC Warranty Deed $3M · Newfirst Nat'l Bk
    Apr 16, 2007 — Houston Pharmacy Assocs LLC Malitz Trust Grant Deed $3.5M · Lehman Brothers Bank Fsb
    Jan 20, 2005 — Malitz Trust Suncor Richmond Fondren Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $595,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $652,000
      Market price range: $327k - $842k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $530,000
      Current use
      AUTO REPAIR, GARAGE
      $970,000
      Change: +83% Conversion: Difficult
      MEDICAL BUILDING
      $685,000
      Change: +29% Conversion: Difficult
      WAREHOUSE, STORAGE
      $660,000
      Change: +25% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.52
    Latitude
    29.7294
    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
    $49,835
    $1,403,052
    $1,080,152
    $2,483,204
    -
    $1,403,052
    $1,080,152
    $2,483,204

    Comparable in this City

    • Value Estimation by Request
      1,899 SF

      3941 Fondren Rd

      CONVENIENCE STORE (W/FUEL PUMP)
      3941 Fondren Rd, Houston, TX 77063-4956
      View Details
    • Value Estimation by Request
      2,756 SF

      9531 Westheimer Rd

      CONVENIENCE STORE
      9531 Westheimer Rd, Houston, TX 77063-3369
      View Details
    • Value Estimation by Request
      2,268 SF

      3801 Jeanetta St

      CONVENIENCE STORE
      3801 Jeanetta St, Houston, TX 77063-5507
      View Details
    • Value Estimation
      $625,000
      5,949 SF

      7950 Westheimer Rd

      FINANCIAL BUILDING
      7950 Westheimer Rd, Houston, TX 77063-3006
      View Details
    • Value Estimation by Request
      5,060 SF

      7514 Richmond Ave

      RETAIL STORES (PERSONAL SERVICES)
      7514 Richmond Ave, Houston, TX 77063-6235
      View Details
    • Value Estimation by Request
      13,092 SF

      3753 Fondren Rd

      RETAIL STORES (PERSONAL SERVICES)
      3753 Fondren Rd, Houston, TX 77063-5676
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Prime location for a car lot in Houston, TX.
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      Commercial Lot on Dunvale Road

      22,725 SF commercial lot, ideal for various businesses.
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      Prime Corner Lot Opportunity

      Corner lot near Galleria, ideal for automotive businesses.
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      Prime Houston Galleria Area Lot

      Exceptional lot for automotive, industrial, or retail businesses.
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    Similar Nearby for Lease

    • Contact for pricing
      5,396 SF

      Retail Space Near Westpark Tollway

      Retail space near Westpark Tollway, Beltway 8, Hwy 59 & I-10.
      3778 S Gessner Rd, Houston, TX 77063
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space on Westheimer Road

      Retail property available for lease on Westheimer Road.
      9524 Westheimer Rd, Houston, TX 77063
      View Details
    • Contact for pricing

      Updated Office and Medical Space

      Two buildings with updated lobbies, restrooms, and corridors.
      2450 Fondren Rd, Houston, TX 77063
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease at 3800 S Gessner Rd.
      3800 S Gessner Rd, Houston, TX 77063
      View Details
    • Contact for pricing

      Retail Space in Houston Center

      Located in a leading Houston shopping district on Westheimer.
      Westheimer Rd. & Hillcroft Ave, Houston, TX 77063
      View Details
    • Contact for pricing
      14,135 SF

      Corner Lot Near Galleria

      Corner lot near Galleria, ideal for auto-related businesses.
      9221 Monsey Dr, Houston, TX 77063
      View Details
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    8800 Richmond Ave
    Houston, TX 77063-5633
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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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    8800 Richmond Ave, Houston, TX, 77063
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