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

    15615 Blue Ash Dr, Unit 135 Houston, TX 77090-5824

    • Garden apartment buildings
    • 29,340 SF
    • 5.70 lot acres
    OFF-MARKET
    Value Estimations
    $675,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3906408
    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

    • Notary public Evelyn Lino COMM.#134354456 / Notary Public
    • Fairfield Cove Apartments / Apartment Building / Apartment Rental Agency
    • Easy Street 5102 Health and Wellness / Vitamin & Supplements Store
    • JCKexchange / Candle Store / Gift Shop

    Property Details for 15615 Blue Ash Dr

    Year built
    1983
    Construction
    FRAME
    Lot size
    5.70 lot acres
    Property size
    29,340 SF
    Property type
    Garden apartment buildings
    APN
    1150170000002
    APU
    1150170000002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $640,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $703,000
      Market price range: $704k - $1.49M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,040,000
      Current use
      OFFICE BUILDING
      $845,000
      Change: -19% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.429
    Latitude
    29.9942
    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
    2022
    $77,256
    $1,738,044
    $6,127,571
    $7,865,615
    -
    $1,738,044
    $6,127,571
    $7,865,615

    Comparable in this City

    • Value Estimation
      $745,000
      13,992 SF

      101 Holw Tree Ln, Unit 280

      GARDEN APT, COURT APT (5+ UNITS) • 13,992 SF
      101 Holw Tree Ln, Houston, TX 77090-1711
      View Details
    • Value Estimation by Request
      12,082 SF

      2110 Brundage Dr, Unit 3002

      GARDEN APT, COURT APT (5+ UNITS) • 12,082 SF
      2110 Brundage Dr, Houston, TX 77090-6414
      View Details
    • Value Estimation
      $590,000
      23,850 SF

      15215 Blue Ash Dr, Unit 210

      GARDEN APT, COURT APT (5+ UNITS) • 23,850 SF
      15215 Blue Ash Dr, Houston, TX 77090-6008
      View Details
    • Value Estimation by Request
      10,900 SF

      17601 Cali Dr, Unit 170

      GARDEN APT, COURT APT (5+ UNITS) • 10,900 SF
      17601 Cali Dr, Houston, TX 77090-2752
      View Details
    • Value Estimation
      $525,000
      4,949 SF

      15455 Ella Blvd, Unit 92

      GARDEN APT, COURT APT (5+ UNITS) • 4,949 SF
      15455 Ella Blvd, Houston, TX 77090-5398
      View Details
    • Value Estimation
      $650,000
      14,751 SF

      16112 Nn Fwy, Unit 372

      GARDEN APT, COURT APT (5+ UNITS) • 14,751 SF
      16112 Nn Fwy, Houston, TX 77090-5523
      View Details

    Similar Nearby for Sale

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      Gated Community Condo with Updates

      Two-bedroom condo in gated community with updated features and appliances.
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    • Contact for pricing
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      View Details

    Similar Nearby for Lease

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      1,041 SF

      Updated Condo with Gated Patio

      Spacious 2-bedroom condo with updated features and private patio.
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    • $12 SF/Yr
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      Ponderosa Square: Houston Office Space

      Prime Houston Office & Medical Suites
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      Houston Medical Office Space Available
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      Prime Houston Retail Space

      1,500 SF Available, High Visibility
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    • $24 SF/Yr
      98,105 SF

      Prime Medical Office Space in Houston

      8-Story Class A Building, 52,864 SF Available
      800 Peakwood Dr, Houston, TX 77090
      View Details
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    Houston, TX 77090-5824
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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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