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Property profile & analytics
OFF-MARKET
Estimated value
$1,565,000
Garden apartment buildings
17231 Blackhawk Blvd 224, Friendswood, TX 77546-3439
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-2508104
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1984
Construction
BRICK
Total area
16,192 SF
Lot
12.6 ac (548,725 SF)
APN
1203080010001
UPID
US82-2508104
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
-
Bellevue at Clear Creek Apartment Complex
-
CEE JAE'S CAJUN COOKING Food Processing Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.65M
Comparable Approach
Comparable
$1.48M
Blend (final)
Blend
$1.57M
Owner & transaction history
Bellevue At Clear Creek LP · 7 yrs held
Bellevue At Clear Creek LP
since 2018
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.3M
+132.0%
Restaurant
$1.6M
+58.3%
Auto repair, garage
$1.5M
+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%
$1,790,000
6.5%
$1,650,000
7%
$1,535,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,000,000
Current use
OFFICE BUILDING
$2,315,000
Change: +132% · Conversion: Moderate
RESTAURANT
$1,580,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,465,000
Change: +47% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,440,000
Change: +44% · Conversion: Moderate
MEDICAL BUILDING
$1,065,000
Change: +7% · Conversion: Moderate
Blend value · Realmo final
$1.57M
Range $1.41M – $1.72M · ±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
$139,128
Tax year 2022
Assessed value
$22,171,718
Assessed 2024
Previous assessed
$26,000,950
-14.7% YoY
Effective rate
0.63%
On assessed value
Assessed land
$2,194,900
Assessed improvement
$19,976,818
Land market value
$2,194,900
Improvement market value
$19,976,818
Total market value
$22,171,718
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
1984
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
15
Stories
2
Rooms
1
Bathrooms
1
Total area
16,192 SF
Lot
12.6 ac (548,725 SF)
APN
1203080010001
UPID
US82-2508104
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
$1.0M
OFFICE BUILDING
Est. value
$2.3M
RESTAURANT
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.1M
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
1984
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
15
Rooms
1
Bathrooms
1
Lot
12.6 ac
Current owner
From public records · entity-resolved
Bellevue At Clear Creek LP
Entity
Mailing address
280 PARK AVE #1375, NEW YORK, NY 10017-1274
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Aug 14, 2020
—
Bay Meadows LLP
—
Deed
related
$6,930,000 · Northmarq Cap Fin
Nov 13, 2018
—
Bellevue At Clear Creek LP
Lsref3 Bravo Houston LLC
Grant Deed
$19,938,000 · Northmarq Cap Fin
Oct 27, 2014
—
Lsref3 Bravo Houston LLC
—
Grant Deed
related
$181,032,000 · Berkadia Com'l Mtg
Oct 3, 2014
—
Lsref3 Bravo Houston LLC
G LP
Trustees Deed
$1,353,483,649 · Lsref3 Reo Finance LLC
—
—
Bay Meadows LLP
—
Deed Of Trust
related
$6,930,000 · Northmarq Cap Fin
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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