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Property profile & analytics
FOR LEASE
Warehouses
1502 Galveston St South Houston, TX 77587
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US82-2067476
For Lease
1 / 2
$10 SF/Yr
1502 Galveston St, South Houston, TX 77587
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1977
Construction
METAL FRAME
Total area
9,616 SF
Lot
1.27 ac (55,522 SF)
APN
340100170001
UPID
US82-2067476
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
-
The Woodlands Express (Southbound) Parking Lot & Garage
-
Southwest Bus Services Ltd Parking Lot & Garage
-
First Class Tours South Yard Freight Service Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$450k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$680k
Blend (final)
Blend
$565k
Owner & transaction history
Fc2 Holdings LLC · 10 yrs held
Fc2 Holdings LLC
since 2016
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$880,000
+59.3%
Apartment house (5+ units)
$715,000
+29.2%
Medical building
$635,000
+14.7%
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 South Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South 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
$450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$550,000
Current use
RESTAURANT
$880,000
Change: +59% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$715,000
Change: +29% · Conversion: Difficult
MEDICAL BUILDING
$635,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$59 / 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
$13,592
Tax year 2023
Assessed value
$1,054,342
Assessed 2024
Previous assessed
$1,054,342
+0.0% YoY
Effective rate
1.29%
On assessed value
Assessed land
$640,824
Assessed improvement
$413,518
Land market value
$640,824
Improvement market value
$413,518
Total market value
$1,054,342
Applied tax rate
21.0000
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
For Lease
Year built
1977
Construction
METAL FRAME
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Total area
9,616 SF
Lot
1.27 ac (55,522 SF)
APN
340100170001
UPID
US82-2067476
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
$550,000
RESTAURANT
Est. value
$880,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$715,000
MEDICAL BUILDING
Est. value
$635,000
WAREHOUSE, STORAGE Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
MEDICAL 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
1977
Construction
METAL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
1.27 ac
Current owner
From public records · entity-resolved
Fc2 Holdings LLC
Entity
Mailing address
1502 GALVESTON ST, SOUTH HOUSTON, TX 77587-5414
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Apr 11, 2016
—
Fc2 Holdings LLC
Conner,tanyia
Warranty Deed
related
$340,000 · Branch Bk&tr
Dec 28, 2000
—
Robert G Conner
Sierra Associates INC
Grant Deed
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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