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

    17231 Blackhawk Blvd, Unit 224 Friendswood, TX 77546-3439

    • Garden apartment buildings
    • 16,192 SF
    • 12.60 lot acres
    OFF-MARKET
    Value Estimations
    $1,565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2508104
    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

    • Bellevue at Clear Creek / Apartment Complex
    • CEE JAE'S CAJUN COOKING / Food Processing Plant

    Property Details for 17231 Blackhawk Blvd

    Year built
    1984
    Construction
    BRICK
    Lot size
    12.60 lot acres
    Property size
    16,192 SF
    Property type
    Garden apartment buildings
    APN
    1203080010001
    APU
    1203080010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,790,000
      6.5%
      $1,650,000
      7%
      $1,535,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,480,000
      Market price range: $537k - $1.48M

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Friendswood
    County
    Harris
    State
    Texas
    Longitude
    -95.1679
    Latitude
    29.5231
    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
    $139,128
    $2,194,900
    $19,976,818
    $22,171,718
    -
    $2,194,900
    $19,976,818
    $22,171,718

    Comparable in this City

    • Value Estimation
      $3,735,000
      38,625 SF

      2911 El Dorado Blvd, Unit 249

      GARDEN APT, COURT APT (5+ UNITS) • 38,625 SF
      2911 El Dorado Blvd, Friendswood, TX 77546-5737
      View Details
    • Value Estimation
      $535,000
      5,520 SF

      17201 Blackhawk Blvd, Unit 122

      GARDEN APT, COURT APT (5+ UNITS) • 5,520 SF
      17201 Blackhawk Blvd, Friendswood, TX 77546-3433
      View Details
    • Value Estimation
      $835,000
      9,156 SF

      5025 Fm 2351st Rd, Unit 124

      GARDEN APT, COURT APT (5+ UNITS) • 9,156 SF
      5025 Fm 2351st Rd, Friendswood, TX 77546-2816
      View Details
    • Value Estimation
      $1,495,000
      15,434 SF

      3102 Bay Area Blvd, Unit 212

      GARDEN APT, COURT APT (5+ UNITS) • 15,434 SF
      3102 Bay Area Blvd, Friendswood, TX 77546-5084
      View Details
    • Value Estimation
      $2,750,000
      28,444 SF

      19100 Glenwest Dr, Unit 322

      GARDEN APT, COURT APT (5+ UNITS) • 28,444 SF
      19100 Glenwest Dr, Friendswood, TX 77546-7871
      View Details
    • Value Estimation
      $825,000
      11,440 SF

      4949 Fm 2351st Rd, Unit 76

      GARDEN APT, COURT APT (5+ UNITS) • 11,440 SF
      4949 Fm 2351st Rd, Friendswood, TX 77546-2800
      View Details

    Similar Nearby for Sale

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      Updated Condo in Hidden Cove

      Updated 2-story condo with no front neighbors in Friendswood ISD.
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      View Details
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      Renovated Condo in FISD

      Tranquil, renovated end-unit condo with soaring ceilings and multi-level deck.
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      Upgraded Condo in Hidden Cove

      Luxurious, upgraded condo with open layout and private patio.
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    • $2,200,000
      4.01 Acres

      Friendswood Commercial Land Opportunity

      4 Acres, Prime Location, High Potential
      2304 Old Rd, Friendswood, TX 77546
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      14,000 SF

      Friendswood Super Market - For Sale

      High-volume retail storefront, prime location.
      4321 Friendswood Link Rd, Friendswood, TX 77546
      View Details
    • $1,250,000
      5.66 Acres

      Friendswood Commercial Land

      ±5.66 Acres, High Traffic, Commercial Zoning
      1 Fm 528 Rd, Friendswood, TX 77546
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      60,000 SF

      Barras Business Park Offices for Lease

      Friendswood, TX Office Space Available
      1305 Parkwood Ave, Friendswood, TX 77546
      View Details
    • Contact for pricing
      15,000 SF

      Rex Road Industrial Park Warehouse

      Modern 15,000 SF warehouse, 2 acres.
      4401 Rex Rd, Friendswood, TX 77546
      View Details
    • Contact for pricing
      19,445 SF

      City Center Retail Space

      Friendswood, TX retail opportunity
      0 Fm 528 Rd, Friendswood, TX 77546
      View Details
    • Contact for pricing
      2,400 SF

      Friendswood Office Space Available

      Modern Office Suites, 1,000-1,400 sq ft
      306 Friendswood Dr, Friendswood, TX 77546
      View Details
    • $30 SF/Yr
      1,200 SF

      Friendswood Office Suites Available

      Prime Office Space, Multiple Sizes
      820 Friendswood Dr, Friendswood, TX 77546
      View Details
    • Contact for pricing
      105,800 SF

      Friendswood Office Space for Lease

      Class A Office Building, 94,850 SF Available
      1715 Friendswood Dr, Friendswood, TX 77546
      View Details
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    Friendswood, TX 77546-3439
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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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