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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Garden apartment buildings
17201 Blackhawk Blvd 122, Friendswood, TX 77546-3433
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US83-3748155
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1983
Construction
FRAME
Total area
5,520 SF
Lot
6.51 ac (283,471 SF)
APN
1043970000019
UPID
US83-3748155
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
-
Bay Meadows Apartments Apartments Apartment Complex
-
María Urrea Apartment Building
-
Kkeybes (Bike/Boat/Book/etc) Store
-
VON-j, International Real Estate Agency
-
A Cut Above Ground Care Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$565k
Comparable Approach
Comparable
$505k
Blend (final)
Blend
$535k
Owner & transaction history
Bay Meadows LLP
Bay Meadows LLP
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$790,000
+132.0%
Restaurant
$540,000
+58.3%
Auto repair, garage
$500,000
+46.7%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$610,000
6.5%
$565,000
7%
$525,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$340,000
Current use
OFFICE BUILDING
$790,000
Change: +132% · Conversion: Moderate
RESTAURANT
$540,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$500,000
Change: +47% · Conversion: Difficult
COMMERCIAL (GENERAL)
$490,000
Change: +44% · Conversion: Moderate
MEDICAL BUILDING
$365,000
Change: +7% · Conversion: Moderate
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$97 / 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
$72,595
Tax year 2022
Assessed value
$12,539,041
Assessed 2024
Previous assessed
$13,566,891
-7.6% YoY
Effective rate
0.58%
On assessed value
Assessed land
$1,133,884
Assessed improvement
$11,405,157
Land market value
$1,133,884
Improvement market value
$11,405,157
Total market value
$12,539,041
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1983
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
16
Stories
2
Rooms
1
Bathrooms
1
Total area
5,520 SF
Lot
6.51 ac (283,471 SF)
APN
1043970000019
UPID
US83-3748155
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$340,000
OFFICE BUILDING
Est. value
$790,000
RESTAURANT
Est. value
$540,000
AUTO REPAIR, GARAGE
Est. value
$500,000
COMMERCIAL (GENERAL)
Est. value
$490,000
MEDICAL BUILDING
Est. value
$365,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1983
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
16
Rooms
1
Bathrooms
1
Lot
6.51 ac
Current owner
From public records · entity-resolved
Bay Meadows LLP
Entity
Mailing address
300 PLZ DR STE #260, HIGHLANDS RANCH, CO 80129-2376
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
—
—
Bay Meadows LLP
—
Deed Of Trust
related
$3,350,000 · State Life Ins Co
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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