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Property profile & analytics
OFF-MARKET
Estimated value
$2,495,000
Warehouses
10930 Lucerne St Houston, TX 77016
Individually Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-2037396
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2006
Construction
METAL FRAME
Total area
20,300 SF
Lot
1.59 ac (69,304 SF)
APN
1289350010001
UPID
US82-2037396
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
by Request
CAP Approach
CAP
$2.30M
Comparable Approach
Comparable
$2.69M
Blend (final)
Blend
$2.50M
Owner & transaction history
Interest Mullane · 20 yrs held
Interest Mullane
since 2006
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.1M
+106.7%
Restaurant
$2.8M
+43.9%
Retail stores
$2.5M
+24.8%
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%
$2,490,000
6.5%
$2,300,000
7%
$2,135,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,970,000
Current use
COMMERCIAL (GENERAL)
$4,070,000
Change: +107% · Conversion: Difficult
RESTAURANT
$2,835,000
Change: +44% · Conversion: Difficult
RETAIL STORES
$2,460,000
Change: +25% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,190,000
Change: +11% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,840,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$2.50M
Range $2.25M – $2.74M · ±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
$123 / 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
$49,347
Tax year 2023
Assessed value
$2,442,557
Assessed 2024
Previous assessed
$2,442,557
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$242,564
Assessed improvement
$2,199,993
Land market value
$242,564
Improvement market value
$2,199,993
Total market value
$2,442,557
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
2006
Construction
METAL FRAME
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Rooms
5
Bathrooms
1
Total area
20,300 SF
Lot
1.59 ac (69,304 SF)
APN
1289350010001
UPID
US82-2037396
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
$2.0M
COMMERCIAL (GENERAL)
Est. value
$4.1M
RESTAURANT
Est. value
$2.8M
RETAIL STORES
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2006
Construction
METAL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Rooms
5
Bathrooms
1
Lot
1.59 ac
Current owner
From public records · entity-resolved
Interest Mullane
Individual
Free & Clear · 20 yrs held
Mailing address
19120 KENSWICK DR, HUMBLE, TX 77338-8178
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 8, 2006
—
Interest Mullane
Burleson,thomas H & Edwina
Warranty Deed
related
—
—
—
Logan Oil Tools INC
—
Deed Of Trust
related
—
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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