Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9202 Homestead Rd Houston, TX 77016-4830

    • Commercial land
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3252559
    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

    • La Mirage Motel / Hotel & Motel
    • Orbit Inn - Houston Homestead/Tidwell / Hotel & Motel

    Property Details for 9202 Homestead Rd

    Lot size
    0.50 lot acres
    Property type
    Commercial land
    APN
    710290110318
    APU
    710290110318

    Description

    The Orbit INN, a multifamily apartment building located at 9202 Homestead Rd, Houston, TX 77016, presents a compelling investment opportunity. This two-story building, constructed in 1979, boasts a total of 35 units spread across 14,218 square feet on a 0.39-acre lot. The property includes 26 rentable rooms, along with several additional spaces. One room is currently occupied by an employee, while another requires minor repairs (a new box spring). The owner's apartment comprises three bedrooms, and there is also a one-bedroom employee apartment ready for immediate occupancy. Two additional apartments require minimal cleaning and repairs before becoming rentable. Two storage rooms offer the potential for conversion into additional guest rooms. Recent improvements include the installation of brand new toilets in all rooms. While the existing furniture and paint are dated, this presents an excellent opportunity for value enhancement through renovations and upgrades. The asking price for this substantial property is $2,200,000. This multifamily investment offers significant potential for increased rental income and return on investment. The property's location in Harris County provides convenient access to Houston's amenities and transportation networks.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3017
    Latitude
    29.8453
    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
    $2,609
    $194,220
    $0.00
    $194,220
    -
    $194,220
    $0.00
    $194,220

    Comparable in this City

    • Value Estimation by Request
      0.36 Acres

      4604 Antha St

      VACANT COMMERCIAL LAND • 0.36 Acres
      4604 Antha St, Houston, TX 77016-4102
      View Details
    • Value Estimation by Request
      0.27 Acres

      Houston, TX 77016

      VACANT COMMERCIAL LAND • 0.27 Acres
      Houston, TX 77016
      View Details
    • Value Estimation by Request
      1.68 Acres

      Houston, TX 77016

      VACANT COMMERCIAL LAND • 1.68 Acres
      Houston, TX 77016
      View Details
    • Value Estimation by Request
      0.17 Acres

      Parker Rd

      VACANT COMMERCIAL LAND • 0.17 Acres
      Parker Rd, Houston, TX 77016
      View Details
    • Value Estimation by Request
      0.24 Acres

      8931 Homestead Rd

      VACANT COMMERCIAL LAND • 0.24 Acres
      8931 Homestead Rd, Houston, TX 77016-5551
      View Details
    • Value Estimation by Request
      0.24 Acres

      Homestead Rd

      VACANT COMMERCIAL LAND • 0.24 Acres
      Homestead Rd, Houston, TX 77016
      View Details

    Similar Nearby for Sale

    • $84,000

      Corner Lot in High-Demand Area

      8227 SF corner lot suitable for commercial or residential use.
      7631 Hirsch Rd, Houston, TX 77016
      View Details
    • $235,000

      Prime Land Near Downtown

      Land for sale near downtown with development potential.
      7212 Lockwood Dr, Houston, TX 77016
      View Details
    • $107,000

      Vacant Lot Ready for Development

      18,000 sq ft vacant lot available for development.
      7317 Lockwood Dr, Houston, TX 77016
      View Details
    • Contact for pricing

      Commercial Land Near US 69

      Commercial land with frontage and easy highway access.
      5409 Langley Rd, Houston, TX 77016
      View Details
    • $95,000

      Unrestricted Lot Near Highway

      Lot suitable for residential or commercial use with utilities.
      3721 Bennington St, Houston, TX 77016
      View Details
    • $499,000

      Prime Lockwood Drive Development Lot

      High-traffic 1-acre lot suitable for commercial or residential development.
      7902 Lockwood Dr, Houston, TX 77016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,320 SF

      Houston Flex Space For Rent

      Flex space available for lease in Houston, Texas.
      6999 Little York Rd, Houston, TX 77016
      View Details
    • Contact for pricing
      4,004 SF

      Renovated Medical Office with Pharmacy

      Move-in ready medical office building with pharmacy space for lease.
      7030 Bretshire Dr, Houston, TX 77016
      View Details
    • Contact for pricing
      1,260 SF

      Houston Flex Space For Rent

      Flex space available for lease in Houston, Texas.
      6989 Little York Rd, Houston, TX 77016
      View Details
    • $25 SF/Yr
      9,180 SF

      Prime Medical Office Space in Houston

      9,180 SF Medical Office - Houston, TX
      5005 Crosstimbers St, Houston, TX 77016
      View Details
    • Contact for pricing
      55,640 SF

      Houston Warehouse with Beltway Access

      55,640 SF warehouse with direct Beltway 8 access.
      3330 S Sam Houston St E, Houston, TX 77016
      View Details
    • $2,000 /Mo
      2,746 SF

      Prime Retail/Office Space Available

      Highly accessible retail or office space in a bustling neighborhood.
      11611 Homestead Rd, Houston, TX 77016
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    9202 Homestead Rd
    Houston, TX 77016-4830
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.