Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    19002 Msn Park Dr Richmond, TX 77407-3101
    Back to Search
    Property profile & analytics

    19002 Msn Park Dr, Richmond, TX 77407-3101

    View on Map
    • Apartment buildings
    • 173,134 SF
    • 7.60 lot acres
    Off-Market
    Property ID
    US82-2655501
    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.
    Value Estimations
    $9,940,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Deseo at Grand Mission Apartments / Real Estate Agency
    • Sunflower Shaman / Jewelry Designer / Metaphysical Supply Store
    • Tex Blue Pools / General Contractor
    • Wicked and Wasted / Take-out & Catering / Catering Service

    Property Details for 19002 Msn Park Dr

    Year built
    2008
    Lot size
    7.60 lot acres
    Property type
    Apartment buildings
    APN
    3523-02-001-0023-907
    APU
    3523020010023907

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 31, 2019 — Cr Deseo Communities LLC — Grant Deed · related $27.8M · Prudential Multifamily Mtg
    Nov 9, 2010 — Grand Apartments LP — Deed Of Trust · related $19.2M · Key Bank & Trust

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.7166
    Latitude
    29.7033
    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
    2023
    $388,492
    $2,649,668
    $23,539,222
    $26,188,890
    -
    $2,649,668
    $23,539,222
    $26,188,890

    Comparable in this City

    • Value Estimation
      $820,000
      11.30 Acres

      20220 Bellaire Blvd

      APARTMENT HOUSE (5+ UNITS)
      20220 Bellaire Blvd, Richmond, TX 77407-3936
      View Details
    • Value Estimation by Request
      10.99 Acres

      19525 Bellfort St

      APARTMENT HOUSE (5+ UNITS)
      19525 Bellfort St, Richmond, TX 77407-8227
      View Details
    • Value Estimation
      $15,640,000
      285,735 SF

      7115 Mason Rd

      APARTMENT HOUSE (5+ UNITS)
      7115 Mason Rd, Richmond, TX 77407-4474
      View Details
    • Value Estimation
      $590,000
      11.02 Acres

      18313 Fm 1093rd Rd

      APARTMENT HOUSE (5+ UNITS)
      18313 Fm 1093rd Rd, Richmond, TX 77407-3549
      View Details
    • Value Estimation by Request
      13.19 Acres

      Bissonnet St

      APARTMENT HOUSE (5+ UNITS)
      Bissonnet St, Richmond, TX 77407
      View Details
    • Value Estimation by Request
      0.09 Acres

      7115 Mason Rd

      APARTMENT HOUSE (5+ UNITS)
      7115 Mason Rd, Richmond, TX 77407-4474
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,842 SF

      Retail Space on Grand Mission

      Retail space available for sale on Grand Mission Boulevard.
      6909 Grand Mission Blvd, Richmond, TX 77407
      View Details
    • Contact for pricing

      Corner Land Parcel on Bellaire

      Unrestricted corner land with high traffic and easy access.
      Bellaire Blvd, Richmond, TX 77407
      View Details
    • $1,500,000

      Commercial Land on Bellaire Boulevard

      Unrestricted commercial land with frontage on Bellaire Blvd and N Park Dr.
      Bellaire Blvd, Richmond, TX 77407
      View Details
    • $450,000

      Prime Commercial Land on Grand Mission

      0.4-acre commercial land suitable for build-to-suit project.
      7318 Grand Mission Blvd, Richmond, TX 77407
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,575 SF

      Richmond Retail Center For Lease

      9,460 SF multi-tenant retail center in Richmond, Texas.
      17627 Beechnut St, Richmond, TX 77407
      View Details
    • Contact for pricing

      Retail Center on Grand Parkway

      Retail center with frontage on Grand Parkway in Richmond, TX.
      7035 W Grand Pkwy S, Richmond, TX 77407
      View Details
    • Contact for pricing
      3,936 SF

      Prime Houston Retail Space

      Two Suites Available, High Visibility
      3330 Richmond Ave, Richmond, TX 77407
      View Details
    • $22 SF/Yr
      2,208 SF

      Orthodontics Space Available For Rent

      2,208 SF orthodontics space for rent. Monument signage available.
      7975 W Grand Pkwy S, Richmond, TX 77407
      View Details
    • Contact for pricing

      Move-in Ready Office Condo

      Well-designed office condo in Richmond, ideal for professional users.
      5151 Meadow Ranch Pkwy, Richmond, TX 77407
      View Details
    • Contact for pricing

      Richmond Class A Office Condominiums

      Newly constructed Class A medical and professional office condominiums for lease.
      5151 Meadow Ranch Pkwy, Richmond, TX 77407
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    19002 Msn Park Dr
    Richmond, TX 77407-3101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    19002 Msn Park Dr, Richmond, TX, 77407
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!