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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Warehouses
19662 Airport Pkwy Conroe, TX 77303-1832
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US83-2303252
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Total area
8,800 SF
Lot
3.94 ac (171,539 SF)
Zoning code
1
APN
0002-01-09412
UPID
US83-2303252
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
-
Red Ball Oxygen Co., Inc. Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$835k
Comparable Approach
Comparable
$705k
Blend (final)
Blend
$770k
Owner & transaction history
Indevco Development LLC · 1 yrs held
Indevco Development LLC
since 2024
2 recorded transactions
Zoning & alternative use
1 · Conroe, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.0M
+76.4%
Apartment house (5+ units)
$800,000
+34.4%
Auto repair, garage
$785,000
+32.2%
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 Conroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conroe 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%
$905,000
6.5%
$835,000
7%
$775,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$595,000
Current use
RESTAURANT
$1,045,000
Change: +76% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$800,000
Change: +34% · Conversion: Difficult
AUTO REPAIR, GARAGE
$785,000
Change: +32% · Conversion: Easy
OFFICE BUILDING
$705,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$665,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$620,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$770k
Range $693k – $847k · ±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
$88 / 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
$14,756
Tax year 2024
Assessed value
$820,487
Assessed 2024
Previous assessed
$820,487
+0.0% YoY
Effective rate
1.80%
On assessed value
Assessed land
$428,848
Assessed improvement
$391,639
Land market value
$428,848
Improvement market value
$391,639
Total market value
$820,487
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1996
Heating
NONE
Cooling
NONE
Buildings
2
Bathrooms
2
Total area
8,800 SF
Lot
3.94 ac (171,539 SF)
Zoning code
1
APN
0002-01-09412
UPID
US83-2303252
Jurisdiction
MONTGOMERY
Zoning & alternative use
1 · Conroe, TX
Zoning 1 · permitted uses
1 · Conroe, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$595,000
RESTAURANT
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$800,000
AUTO REPAIR, GARAGE
Est. value
$785,000
OFFICE BUILDING
Est. value
$705,000
RETAIL STORES
Est. value
$665,000
MEDICAL BUILDING
Est. value
$620,000
WAREHOUSE, STORAGE Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1996
Heating
NONE
Cooling
Yes
Buildings
2
Bathrooms
2
Lot
3.94 ac
Current owner
From public records · entity-resolved
Indevco Development LLC
Entity
Free & Clear · 1 yrs held
Mailing address
550 SATELLITE BLVD NE, SUWANEE, GA 30024-7153
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2024
—
Indevco Development LLC
Armadillo Leasing And Development L
Special Warranty Deed
—
—
—
Armadillo Leasing
—
Deed Of Trust
related
$100,838 · Trustmark National Bank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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