Back to Search
Property profile & analytics
FOR SALE
Commercial real estate
18230 Fm 1488 Rd Magnolia, TX 77354
Individually Owned
20-yr Hold
Free & Clear
Property ID
US83-2333526
For Sale
1 / 2
$5,390,000
18230 Fm 1488 Rd, Magnolia, TX 77354
View Listing →
Property summary
AI-generated overview
This exceptional three-story, Class B office building, totaling 63,500 square feet, is situated on a 4.87-acre lot at 18230 FM 1488 Road in Magnolia, Texas, zip code 77354. Built in 2007, the property offers a variety of suite sizes, perfect for both executive and medical office uses. Spaces range from a minimum of 237 square feet to a maximum contiguous space of 6,779 square feet, with 24,715 square feet currently vacant. The building features ample parking with a ratio of 4 spaces per 1,000 square feet and convenient elevator access. Located in Montgomery County, this multi-tenant building provides a strategic location for businesses seeking a professional and accessible environment. The property's flexible floor plans cater to diverse business needs, making it an ideal choice for companies of various sizes. With its modern design and convenient amenities, this office building presents a compelling opportunity for businesses looking to establish or expand their presence in the thriving Magnolia market. The property is easily accessible from FM 1488.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2007
Total area
65,975 SF
Lot
4.83 ac (210,569 SF)
APN
3775-03-01400
UPID
US83-2333526
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
-
TOMAGWA Health Care Ministries Medical Clinic
-
Houston Methodist Primary Care Group Medical Clinic
-
Edward Terrasson, MD Medical Clinic
-
Magnolia Pharmacy Pharmacy
-
Kathleen Paz, M.D. Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.73M
Blend (final)
Blend
$5.39M
Owner & transaction history
Owner Name Unavailable · 20 yrs held
Owner Name Unavailable
since 2006
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$7.8M
+36.9%
Restaurant
$7.6M
+32.7%
Auto repair, garage
$6.8M
+19.4%
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 Magnolia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Magnolia 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,725,000
Current use
APARTMENT HOUSE (5+ UNITS)
$7,835,000
Change: +37% · Conversion: Moderate
RESTAURANT
$7,595,000
Change: +33% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,830,000
Change: +19% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,690,000
Change: +17% · Conversion: Difficult
OFFICE BUILDING
$5,520,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$5.39M
Range $4.85M – $5.93M · ±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
$82 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$138,639
Tax year 2024
Assessed value
$7,170,000
Assessed 2024
Previous assessed
$7,400,000
-3.1% YoY
Effective rate
1.93%
On assessed value
Assessed land
$1,684,448
Assessed improvement
$5,485,552
Land market value
$1,684,448
Improvement market value
$5,485,552
Total market value
$7,170,000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
2007
Heating
FORCED AIR
Cooling
CENTRAL
Total area
65,975 SF
Lot
4.83 ac (210,569 SF)
APN
3775-03-01400
UPID
US83-2333526
Jurisdiction
MONTGOMERY
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
COMMERCIAL (GENERAL) Current
Est. value
$5.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.8M
RESTAURANT
Est. value
$7.6M
AUTO REPAIR, GARAGE
Est. value
$6.8M
WAREHOUSE, STORAGE
Est. value
$6.7M
OFFICE BUILDING
Est. value
$5.5M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
OFFICE 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
2007
Heating
FORCED AIR
Cooling
Yes
Lot
4.83 ac
Current owner
From public records · entity-resolved
Owner Name Unavailable
Individual
Free & Clear · 20 yrs held
Mailing address
PO BOX 860, MAGNOLIA, TX 77353-0860
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 29, 2019
—
High Star INC
—
Deed
related
$5,200,000 · Wells Fargo Bk
May 22, 2019
—
High Star INC
—
Trustees Deed
related
$400,000 · Wells Fargo Bk
Jul 1, 2006
—
Owner Name Unavailable
Deer Crossing INC
Warranty Deed
related
—
—
—
High Star INC
—
Loan Modification
related
$5,200,000 · Wells Fargo Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
