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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1506 1st St, Unit 6 Seabrook, TX 77586-3559

    • Apartment buildings
    • 5,017 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $420,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0154955
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1506 1st St

    Year built
    1963
    Construction
    BRICK
    Lot size
    0.23 lot acres
    Property size
    5,017 SF
    Property type
    Apartment buildings
    APN
    410080130004
    APU
    410080130004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $330,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $555,000
      6.5%
      $510,000
      7%
      $475,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $310,000
      Current use
      RESTAURANT
      $490,000
      Change: +58% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $455,000
      Change: +47% Conversion: Difficult
      RETAIL STORES
      $340,000
      Change: +10% Conversion: Difficult
      MEDICAL BUILDING
      $330,000
      Change: +7% Conversion: Moderate
      WAREHOUSE, STORAGE
      $310,000
      Change: -0% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seabrook
    County
    Harris
    State
    Texas
    Longitude
    -95.0228
    Latitude
    29.5633
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $2,496
    $85,170
    $352,379
    $437,549
    -
    $85,170
    $352,379
    $437,549

    Comparable in this City

    • Value Estimation
      $375,000
      4,004 SF

      1914 Larrabee St, Unit 12

      APARTMENT HOUSE (5+ UNITS) • 4,004 SF
      1914 Larrabee St, Seabrook, TX 77586-3252
      View Details
    • Value Estimation by Request
      3.28 Acres

      3802 Nasa Rd

      Multifamily properties • 3.28 Acres
      3802 Nasa Rd, Seabrook, TX 77586
      View Details
    • Value Estimation
      $930,000
      58,080 SF

      3300 Towers Blvd, Unit 416

      HIGH-RISE APARTMENTS • 58,080 SF
      3300 Towers Blvd, Seabrook, TX 77586-2650
      View Details
    • Value Estimation
      $990,000
      248,549 SF

      2300 Repsdorph Rd, Unit 259

      GARDEN APT, COURT APT (5+ UNITS) • 248,549 SF
      2300 Repsdorph Rd, Seabrook, TX 77586-3072
      View Details
    • Value Estimation
      $355,000
      11,912 SF

      1901 Lakeside Dr, Unit 132

      GARDEN APT, COURT APT (5+ UNITS) • 11,912 SF
      1901 Lakeside Dr, Seabrook, TX 77586-3325
      View Details
    • Value Estimation
      $525,000
      18,609 SF

      4101 Nasa Pkwy, Unit 198

      GARDEN APT, COURT APT (5+ UNITS) • 18,609 SF
      4101 Nasa Pkwy, El Lago, TX 77586-6224
      View Details

    Similar Nearby for Sale

    • $119,500

      Resort-Like Condo with Abundant Light

      Two-bedroom, two-bath condo with many included amenities.
      4001 Nasa Pkwy, El Lago, TX 77586
      View Details
    • $149,500

      Updated Condo in Seabrook

      Modern 13-unit condo with water views and coastal lifestyle.
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    • $304,900

      Waterfront Condo with Balconies

      New condo with waterfront views, balconies, and planned amenities.
      4458 1201, Taylor Lake Village, TX 77586
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    • $99,500

      Waterfront Condo in Seabrook

      Two-bedroom condo with waterfront access and included utilities.
      3535 Nasa Pkwy, Seabrook, TX 77586
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    • $174,000

      Waterfront Condo with Lake Views

      Waterfront condo with lake views, dock, and lakefront pool.
      3535 Nasa Pkwy, Seabrook, TX 77586
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    • $144,900

      Waterfront Condo in Seabrook

      Charming 2-bedroom condo with community amenities and waterfront access.
      3535 Nasa Rd 1 Pkwy, Seabrook, TX 77586
      View Details

    Similar Nearby for Lease

    • $5,500 /Mo

      Seabrook Yard for Lease

      5-acre fenced, stabilized, and lighted yard near Bayport Terminal.
      Highway 146, Seabrook, TX 77586
      View Details
    • $18 SF/Yr
      39,260 SF

      Seabrook Office Space for Lease

      Prime Seabrook Office Suites Available
      3101 Nasa Rd 1, Seabrook, TX 77586
      View Details
    • $18 SF/Yr
      12,437 SF

      Seabrook Plaza Retail Space Available

      Prime Seabrook retail/office space, 8,521 SF available.
      5735 Bayport Blvd, Seabrook, TX 77586
      View Details
    • $24 SF/Yr
      1,392 SF

      Retail/Office Space in Old Seabrook

      Adaptable retail or office spaces in a historic location.
      1105 Moskowitz Ave, Seabrook, TX 77586
      View Details
    • Contact for pricing
      14,307 SF

      Seabrook Retail Center: Prime Location

      Four retail spaces available, high-traffic area.
      3100 Nasa Rd 1, Seabrook, TX 77586
      View Details
    • $914,760

      Highway Frontage Pad Site Available

      0.84 acre pad site with high traffic visibility.
      1408 Bayport Blvd, Seabrook, TX 77586
      View Details
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    Seabrook, TX 77586-3559
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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