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Property profile & analytics
OFF-MARKET
Estimated value
$1,970,000
Garden apartment buildings
1507 Msn Rd San Antonio, TX 78210-1662
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US82-5822721
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2017
Total area
16,960 SF
Lot
13.49 ac (587,755 SF)
APN
00020-001-0610
UPID
US82-5822721
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
-
MELA Luxury Apartments Apartment Complex
-
Mission Road / Mission Reach Trailhead Hiking Area
-
Gres Construction LLC Hardware & Home Improvement Interior Design
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.26M
CAP Approach
CAP
$2.67M
Comparable Approach
Comparable
$1.99M
Blend (final)
Blend
$1.97M
Owner & transaction history
Mela San Antonio Owner LLC · 5 yrs held
Mela San Antonio Owner LLC
since 2021
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.1M
+129.8%
Retail stores
$3.0M
+121.9%
Restaurant
$2.8M
+108.8%
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 San Antonio submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Antonio 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
$1,260,000
CAP Approach
CAP Return
Estimation
6%
$2,885,000
6.5%
$2,665,000
7%
$2,475,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,360,000
Current use
COMMERCIAL (GENERAL)
$3,130,000
Change: +130% · Conversion: Moderate
RETAIL STORES
$3,020,000
Change: +122% · Conversion: Difficult
RESTAURANT
$2,845,000
Change: +109% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,445,000
Change: +80% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,415,000
Change: +4% · Conversion: Difficult
MEDICAL BUILDING
$1,405,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$1.97M
Range $1.77M – $2.17M · ±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
$116 / 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
$1,439,838
Tax year 2023
Assessed value
$50,000,000
Assessed 2024
Previous assessed
$57,760,000
-13.4% YoY
Effective rate
2.88%
On assessed value
Assessed land
$10,091,530
Assessed improvement
$39,908,470
Land market value
$10,091,530
Improvement market value
$39,908,470
Total market value
$50,000,000
Applied tax rate
6.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2017
Heating
CENTRAL
Cooling
YES
Buildings
12
Stories
1
Total area
16,960 SF
Lot
13.49 ac (587,755 SF)
APN
00020-001-0610
UPID
US82-5822721
Jurisdiction
BEXAR
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$3.1M
RETAIL STORES
Est. value
$3.0M
RESTAURANT
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2017
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
12
Lot
13.49 ac
Current owner
From public records · entity-resolved
Mela San Antonio Owner LLC
Entity
Mailing address
2603 AUGUSTA DR STE #700, HOUSTON, TX 77057-5662
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2021
—
Mela San Antonio Owner LLC
Mela Phase I Ltd
Venders Lien
$41,250,000 · Bds III Mortgage Capital J LLC
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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