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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Warehouses
10421 Plz Dr Houston, TX 77074-1117
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-2693581
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Construction
METAL FRAME
Total area
19,650 SF
Lot
2.04 ac (89,002 SF)
APN
1248940010001
UPID
US82-2693581
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$685k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$855k
Owner & transaction history
Red Sea Properties LLC · 5 yrs held
Red Sea Properties LLC
since 2020
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+24.5%
Office building
$1.0M
+17.0%
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
$685,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$855,000
Current use
RETAIL STORES
$1,060,000
Change: +25% · Conversion: Moderate
OFFICE BUILDING
$1,000,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$855k
Range $770k – $941k · ±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
$44 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$49,457
Tax year 2023
Assessed value
$2,410,379
Assessed 2024
Previous assessed
$2,410,379
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$534,006
Assessed improvement
$1,876,373
Land market value
$534,006
Improvement market value
$1,876,373
Total market value
$2,410,379
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2004
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
19,650 SF
Lot
2.04 ac (89,002 SF)
APN
1248940010001
UPID
US82-2693581
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
WAREHOUSE, STORAGE Current
Est. value
$855,000
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.0M
WAREHOUSE, STORAGE Current
RETAIL STORES
OFFICE BUILDING
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
2004
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
2.04 ac
Current owner
From public records · entity-resolved
Red Sea Properties LLC
Entity
Mailing address
425 SUMMER PARK DR, STAFFORD, TX 77477-5577
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2020
—
Red Sea Properties LLC
Spicy World Of USA INC
Grant Deed
$4,900,000 · Prosperity Bk
—
—
Spicy World Of USA INC
—
Deed Of Trust
related
$1,500,000 · Compass Bk
—
—
Spicy World Of USA INC
—
Deed Of Trust
related
$865,768 · Capital One
—
—
Spicy World USA INC
—
Deed Of Trust
related
$500,000 · Compass Bank
—
—
Spicy World Of USA INC
—
Deed Of Trust
related
$625,000 · Compass Bank
—
—
Spicy World Of USA INC
—
Deed Of Trust
related
$250,000 · Hibernia National Bank
—
—
Spicy World Of USA INC
—
Deed Of Trust
related
$750,000 · J P Morgan Chase 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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