Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    929 Gessner Rd Houston, TX 77024-2515

    • Medical Office Space
    • 434,466 SF
    • 2.91 lot acres
    OFF-MARKET
    Value Estimations
    $45,425,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-6312567
    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

    • Lori's Gifts 325 / (Bike/Boat/Book/etc) Store
    • ClearChoice Dental Implant Center / Dental Office
    • Dr. Karen S. Brown, MD / Physician
    • Jessica B. Holt, MD, PA / Physician
    • Dr. Cassidy Gillaspie / Physician

    Property Details for 929 Gessner Rd

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.91 lot acres
    Property size
    434,466 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    1283160010020
    APU
    1283160010020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $44,115,000
      Market price range: $13.0M - $44.1M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $27,730,000
      Current use
      RESTAURANT
      $43,920,000
      Change: +58% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $40,550,000
      Change: +46% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.5468
    Latitude
    29.7832
    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
    $1,951,531
    $9,514,125
    $177,312,705
    $186,826,830
    -
    $9,514,125
    $177,312,705
    $186,826,830

    Comparable in this City

    • Value Estimation
      $11,325,000
      734,856 SF

      10125 Katy Fwy

      MEDICAL BUILDING • 734,856 SF
      10125 Katy Fwy, Houston, TX 77024-1286
      View Details
    • Value Estimation
      $2,205,000
      95,672 SF

      9055 Katy Fwy

      MEDICAL BUILDING • 95,672 SF
      9055 Katy Fwy, Houston, TX 77024-1624
      View Details
    • Value Estimation by Request
      5,220 SF

      9127 Katy Fwy

      MEDICAL BUILDING • 5,220 SF
      9127 Katy Fwy, Houston, TX 77024-1642
      View Details
    • Value Estimation by Request
      1,440 SF

      9099 Katy Fwy

      MEDICAL BUILDING • 1,440 SF
      9099 Katy Fwy, Houston, TX 77024-1640
      View Details
    • Value Estimation
      $11,860,000
      769,876 SF

      10125 Katy Fwy

      MEDICAL BUILDING • 769,876 SF
      10125 Katy Fwy, Houston, TX 77024-1286
      View Details
    • Value Estimation
      $10,655,000
      103,032 SF

      902 Frostwood Dr

      MEDICAL BUILDING • 103,032 SF
      902 Frostwood Dr, Houston, TX 77024-2420
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2.28 Acres

      CITYCENTRE Land Development Opportunity

      ±3-Acre Mixed-Use Houston Site
      10655 Katy Fwy, Houston, TX 77024
      View Details
    • $198,500

      Hedwig Village Condominium

      Charming 2-bedroom condominium in desirable Hedwig Village.
      9003 Gaylord Dr, Houston, TX 77024
      View Details
    • $190,000

      Spacious Condo with Prime Location

      Comfortable condo near Memorial Park, Uptown, and The Galleria.
      484 N Post Oak Ln, Houston, TX 77024
      View Details
    • $179,000

      Rare Corner Unit Condo

      Move-in ready 2-bedroom condo with pool access and utilities included.
      353 N Post Oak Ln, Houston, TX 77024
      View Details
    • $235,000

      Spacious Bayou Woods Residence

      Large combined residence with flexible layout and recent upgrades.
      7575 Katy Fwy, Houston, TX 77024
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,919 SF

      Move-in Ready Medical Suites Available

      Medical office space available Spring 2021 in Memorial Villages.
      8731 Katy Fwy, Houston, TX 77024
      View Details
    • $22 SF/Yr
      63,848 SF

      Kimberley Lane Medical Office Space

      West Houston medical office building, renovated 2022.
      12727 Kimberley Ln, Houston, TX 77024
      View Details
    • Contact for pricing
      102,775 SF

      Hedwig Place Medical Office Suites

      Modern Medical Office Building in Houston
      8731 Katy Fwy, Houston, TX 77024
      View Details
    • $36 SF/Yr
      60,850 SF

      Kimberley Lane Medical Office Space

      Class A Medical Office Building, Houston, TX
      12727 Kimberley Ln, Houston, TX 77024
      View Details
    • Contact for pricing
      6,322 SF

      Houston Medical Office Building

      West Houston medical office building near City Centre and Memorial Hermann.
      12727 Kimberley Ln, Houston, TX 77024
      View Details
    • Contact for pricing
      9,308 SF

      Office Space Available For Rent

      Office space available for lease in Houston, Texas.
      6925 Portwest Dr, Houston, TX 77024
      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.
    929 Gessner Rd
    Houston, TX 77024-2515
    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.
    Sign Up Successful!
    You now have access to more from Realmo!