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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Flex space
1619 Richey Rd Houston, TX 77073-3512
Entity Owned
28-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-2269235
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1999
Construction
METAL FRAME
Total area
30,900 SF
Lot
6.36 ac (277,015 SF)
APN
1151830020047
UPID
US82-2269235
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
-
Charbonneau Industries dba Ci Actuation Factory Metal Fabrication Plant
-
Charbonneau Industries Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$815k
Owner & transaction history
Char Properties LLC · 28 yrs held
Char Properties LLC
since 1998
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+41.9%
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
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$860,000
Current use
RETAIL STORES
$1,220,000
Change: +42% · Conversion: Moderate
Blend value · Realmo final
$815k
Range $734k – $897k · ±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
$26 / 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
$75,182
Tax year 2023
Assessed value
$7,587,548
Assessed 2024
Previous assessed
$7,587,548
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,385,080
Assessed improvement
$6,202,468
Land market value
$1,385,080
Improvement market value
$6,202,468
Total market value
$7,587,548
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1999
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
4
Stories
1
Total area
30,900 SF
Lot
6.36 ac (277,015 SF)
APN
1151830020047
UPID
US82-2269235
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
INDUSTRIAL (GENERAL) Current
Est. value
$860,000
RETAIL STORES
Est. value
$1.2M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
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
1999
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
4
Lot
6.36 ac
Current owner
From public records · entity-resolved
Char Properties LLC
Entity
Mailing address
3 PASTORAL POND CIR, SPRING, TX 77380-4618
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 1998
—
Char Properties LLC
Fairchild Retiree Medical Serv
Grant Deed
$188,000 · Nationsbank
—
—
Char Properties LLC
—
Deed Of Trust
related
$1,950,000 · Bank Of America
—
—
Char Properties LLC
—
Deed Of Trust
related
$1,500,000 · Bank Of The West
—
—
Char Properties LLC
—
Deed Of Trust
related
$2,650,000 · Bank Of America
—
—
Char Properties LLC
—
Deed Of Trust
related
$1,650,000 · Bank Of America
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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