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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Office buildings
1018 Preston St Houston, TX 77002-1823
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US83-4010085
Property summary
AI-generated overview
This stunning eight-story, Class B office building, constructed in 1907 and extensively renovated in 2021, offers exceptional office space in Houston's Central Business District, near Fannin St. Located in the Courts Complex, this prestigious address provides convenient access to numerous restaurants, hotels, and retail establishments. The building boasts a total of 19,850 square feet, with 5,059 square feet currently available for lease in flexible configurations ranging from approximately 2,481 to 5,059 square feet. Each floor plate is approximately 2,500 square feet and includes the convenience of two private restrooms. The building sits on a 0.07-acre lot and offers multiple tenancy options. Its prime location provides easy access to a variety of public transportation, making commuting a breeze. This historic building offers a unique blend of character and modern amenities, making it an ideal location for businesses seeking a prestigious and convenient address in the heart of Houston. The building's central location and flexible space options make it perfect for a variety of businesses.
Property profile
Verified
Property type
Office buildings
Use group
SKYSCRAPER/HIGH-RISE (COM OFFICES)
Year built
1907
Construction
BRICK
Total area
22,204 SF
Lot
0.07 ac (3,263 SF)
APN
10450000005
UPID
US83-4010085
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Locklear Troy S Law Firm
-
Houston House Buyers - Sell House Fast Real Estate Agency
-
pawsitive attention pet Dog Walker
-
DeGuerin & Dickson Law Firm
-
Dickson Lewis Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$765k
Blend (final)
Blend
$765k
Owner & transaction history
Republic Building Tx LP · 11 yrs held
Republic Building Tx LP
since 2015
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Houston submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$765,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$615,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$765k
Range $689k – $842k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$34 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$46,336
Tax year 2020
Previous assessed
$2,615,697
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
SKYSCRAPER/HIGH-RISE (COM OFFICES)
Status
Off-Market
Year built
1907
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
7
Total area
22,204 SF
Lot
0.07 ac (3,263 SF)
APN
10450000005
UPID
US83-4010085
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$765,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$615,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1907
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
7
Buildings
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
Republic Building Tx LP
Entity
Mailing address
2117 CHENEVERT ST #1, HOUSTON, TX 77003-5848
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2015
—
Republic Building Tx LP
Republic Of Preston LLC
Special Warranty Deed
$1,415,000 · Wells Fargo Bank NA
May 19, 2006
—
1018 Preston
—
Trustees Deed
related
$200,000 · Whitney National Bank
May 16, 2005
—
1018 Preston
Maxicorp Venture I Ltd
Grant Deed
$1,040,000 · Whitney National Bank
—
—
Republic Of Preston LLC
—
Deed Of Trust
related
$1,415,000 · Wells Fargo Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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