7500 Bellaire BlvdHouston, TX 77036

Property Details for 7500 Bellaire Blvd

Year built

1962

Construction

STEEL FRAME

Lot size

0.43 AC

Property size (Sq ft)

124,883 SF

Property type

Office buildings

APN

930660000033

APU

930660000033

Description

This exceptional 10-story, 111,492 square foot retail building, situated on a 9.9-acre lot in Houston, Texas, presents a compelling value-add investment opportunity. Built in 1962, the property boasts a prime location at 7500 Bellaire Blvd, 77036, offering high visibility from Highway 69 and surrounding roadways. Currently 100% occupied by approximately 104 tenants, this multi-tenant building features a diverse mix of jewelry retailers, wholesalers, and service providers. The ground floor showcases high-end retailers offering luxury watches, diamonds, and other fine jewelry. Upper floors house wholesale diamond brokers, gold and silver dealers, gem specialists, appraisers, and custom design professionals. All leases are currently full-service gross, presenting a significant opportunity to recast them to a net basis, increasing rental income by an estimated 20% or more. The current average rent is $12-$13 per square foot net. The property's strategic location adjacent to the redeveloping PlazAmericas (formerly Sharpstown Mall) further enhances its long-term potential. This landmark building offers a unique chance to capitalize on a thriving jewelry industry hub and a prime location within a revitalizing area.

• CAP approach

  CAP return

  Valuation

  6%

  $25,576,246

  6.5%

  $23,608,842

  7%

  $21,922,496

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,458,868

  Geo Method

  $37,388,720

• Alternative Use

  Use

  Valuation

  Residential

  $29,274,964

  Hospitality

  $26,815,710

  Educational

  $22,310,356

  Medical

  $23,077,644

  Retail

  $34,705,000

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7068

Longitude

-95.5151

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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