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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Banks
1550 Bay Area Blvd, Friendswood, TX 77546-2671
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-4671658
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1980
Construction
BRICK
Total area
13,110 SF
Lot
2.22 ac (96,790 SF)
APN
1128040000002
UPID
US82-4671658
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
-
Selah Financial Services, Inc. Financial Advisor
-
Raymond James Financial Services Financial Advisor
-
JEREMY CHARACTER Financial Advisor
-
Bank of America ATM (Drive-thru) Atm
-
Mike Miller - State Farm Insurance Agent Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$655k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$818k
Blend (final)
Blend
$735k
Owner & transaction history
1560 Bay Area LLC · 9 yrs held
1560 Bay Area LLC
since 2016
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+48.5%
Commercial (general)
$1.2M
+46.2%
Medical building
$865,000
+8.1%
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 Friendswood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Friendswood 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
$655,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$800,000
Current use
AUTO REPAIR, GARAGE
$1,185,000
Change: +49% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,165,000
Change: +46% · Conversion: Difficult
MEDICAL BUILDING
$865,000
Change: +8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$810,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$735k
Range $662k – $809k · ±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
$56 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$44,179
Tax year 2022
Assessed value
$4,199,686
Assessed 2024
Previous assessed
$4,190,422
+0.2% YoY
Effective rate
1.05%
On assessed value
Assessed land
$2,903,700
Assessed improvement
$1,295,986
Land market value
$2,903,700
Improvement market value
$1,295,986
Total market value
$4,199,686
Applied tax rate
27.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1980
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
13,110 SF
Lot
2.22 ac (96,790 SF)
APN
1128040000002
UPID
US82-4671658
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
FINANCIAL BUILDING Current
Est. value
$800,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$865,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$810,000
FINANCIAL BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1980
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
2.22 ac
Current owner
From public records · entity-resolved
1560 Bay Area LLC
Entity
Mailing address
1717 WOODSTEAD CT STE #298, SPRING, TX 77380-1448
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2016
—
1560 Bay Area LLC
Cole Baybrook Ltd
Grant Deed
$5,720,000 · Miscellaneous Ins Co
May 4, 2016
—
Cole Baybrook Ltd
—
Deed
related
—
May 1, 2006
—
Cole Baybrook Ltd
Maybrook Investments INC
Grant Deed
related
—
—
—
Cole Baybrook Ltd
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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