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Property profile & analytics
OFF-MARKET
Estimated value
$14,855,000
Distribution centers
1517 Grns Rd Houston, TX 77032-1103
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-6092012
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2007
Construction
STEEL & CONCRETE
Total area
261,895 SF
Lot
25.13 ac (1,094,663 SF)
APN
1299790010003
UPID
US82-6092012
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
by Request
Comparable Approach
Comparable
$14.14M
Blend (final)
Blend
$14.86M
Owner & transaction history
Lit Industrial LP
Lit Industrial LP
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$24.4M
+192.9%
Retail stores
$23.2M
+177.4%
Medical building
$16.7M
+100.3%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$24,445,000
Change: +193% · Conversion: Easy
RETAIL STORES
$23,155,000
Change: +177% · Conversion: Moderate
MEDICAL BUILDING
$16,715,000
Change: +100% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$16,375,000
Change: +96% · Conversion: Difficult
Blend value · Realmo final
$14.86M
Range $13.37M – $16.34M · ±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
$57 / 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
$412,656
Tax year 2023
Assessed value
$52,712,383
Assessed 2024
Previous assessed
$52,712,383
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$5,473,315
Assessed improvement
$47,239,068
Land market value
$5,473,315
Improvement market value
$47,239,068
Total market value
$52,712,383
Applied tax rate
9.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2007
Construction
STEEL & CONCRETE
Heating
FORCED AIR
Cooling
NONE
Buildings
2
Total area
261,895 SF
Lot
25.13 ac (1,094,663 SF)
APN
1299790010003
UPID
US82-6092012
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
AUTO REPAIR, GARAGE
Est. value
$24.4M
RETAIL STORES
Est. value
$23.2M
MEDICAL BUILDING
Est. value
$16.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$16.4M
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
2007
Construction
STEEL & CONCRETE
Heating
FORCED AIR
Cooling
Yes
Buildings
2
Lot
25.13 ac
Current owner
From public records · entity-resolved
Lit Industrial LP
Entity
Free & Clear · 0 yrs held
Mailing address
3000 INTERNET BLVD STE #350, FRISCO, TX 75034-2704
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
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
—
—
Lit Industrial LP
—
Loan Modification
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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