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    Property profile & analytics

    9292 Westheimer Rd Houston, TX 77063-3504

    • Drug stores
    • 16,440 SF
    • 1.70 lot acres
    OFF-MARKET
    Value Estimations
    $930,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5174764
    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

    • CVS Pharmacy / Pharmacy
    • CVS Photo / (Bike/Boat/Book/etc) Store
    • Coinhub Bitcoin ATM Teller / Atm
    • Nguyen Tran / Pharmacy
    • Crypto Dispensers | CDReload / Shopping Center & Mall / (Bike/Boat/Book/etc) Store

    Property Details for 9292 Westheimer Rd

    Year built
    2002
    Construction
    BRICK
    Lot size
    1.70 lot acres
    Property size
    16,440 SF
    Property type
    Drug stores
    APN
    1231870010007
    APU
    1231870010007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $570,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,288,000
      Market price range: $500k - $1.29M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $810,000
      Current use
      AUTO REPAIR, GARAGE
      $1,490,000
      Change: +83% Conversion: Difficult
      MEDICAL BUILDING
      $1,050,000
      Change: +29% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,015,000
      Change: +25% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.5255
    Latitude
    29.7379
    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
    $102,573
    $3,337,425
    $1,679,076
    $5,016,501
    -
    $3,337,425
    $1,679,076
    $5,016,501

    Comparable in this City

    • Value Estimation
      $920,000
      17,324 SF

      8098 Westheimer Rd

      DRUG STORE, PHARMACY • 17,324 SF
      8098 Westheimer Rd, Houston, TX 77063-2902
      View Details
    • Value Estimation by Request
      130,851 SF

      Westheimer Rd. & Hillcroft Ave

      Individual retail properties • 130,851 SF
      0 Westheimer Rd. & Hillcroft Ave, Houston, TX 77063
      View Details
    • Value Estimation
      $565,000
      11,050 SF

      9524 Westheimer Rd

      RETAIL STORES (PERSONAL SERVICES) • 11,050 SF
      9524 Westheimer Rd, Houston, TX 77063-3308
      View Details
    • Value Estimation by Request
      8,000 SF

      8615 Westheimer Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,000 SF
      8615 Westheimer Rd, Houston, TX 77063-4201
      View Details
    • Value Estimation by Request
      1,700 SF

      9330 Westheimer Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,700 SF
      9330 Westheimer Rd, Houston, TX 77063-3412
      View Details
    • Value Estimation by Request
      11,880 SF

      2955 Fondren Rd

      RETAIL STORES (PERSONAL SERVICES) • 11,880 SF
      2955 Fondren Rd, Houston, TX 77063-4109
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,689 SF

      Retail Property in Revitalization Zone

      Retail property with high visibility in an active revitalization zone.
      1419 Gessner Rd, Houston, TX 77063
      View Details
    • $800,000

      Houston Car Lot Opportunity

      Prime location for a car lot in Houston, TX.
      3918 Jeanetta St, Houston, TX 77063
      View Details
    • $1,300,000

      Commercial Lot on Dunvale Road

      22,725 SF commercial lot leased to car business.
      3410 Dunvale Rd, Houston, TX 77063
      View Details
    • $320,000

      Prime Land For Development

      Land suitable for retail, office, or mixed-use development.
      3222 Jarvis St, Houston, TX 77063
      View Details
    • $800,000

      Prime Corner Lot Opportunity

      Corner lot near Galleria, ideal for automotive businesses.
      9221 Monsey Dr, Houston, TX 77063
      View Details

    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

      Briarmeadow Area Redevelopment Opportunity

      Redevelopment opportunity in Briarmeadow area with up to 50,000 SF.
      2532 Fondren Rd, Houston, TX 77063
      View Details
    • Contact for pricing

      Retail Center in Southwest Houston

      Retail center with excellent curb appeal and diversified demographics.
      3202-3240 Fondren Rd, Houston, TX 77063
      View Details
    • $56 SF/Yr
      14,135 SF

      Corner Lot Near Galleria

      Corner lot near Galleria, ideal for auto-related businesses.
      9221 Monsey Dr, 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

      Retail Space for Lease

      Retail space available for lease at 3800 S Gessner Rd.
      3800 S Gessner Rd, Houston, TX 77063
      View Details
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    9292 Westheimer Rd
    Houston, TX 77063-3504
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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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