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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Strip malls
22635 Morton Rnch Rd, Katy, TX 77449-6497
Individually Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US83-1093014
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2017
Construction
STEEL & CONCRETE
Total area
17,578 SF
Lot
1.5 ac (65,340 SF)
APN
1346750010004
UPID
US83-1093014
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
-
Maria’s Mexican Cuisine Restaurant
-
VU TEA Cafe & Coffee Shop
-
RaKuu Restaurant
-
Naomi Massage Alternative Medicine Practice Spa & Massage Center
-
EMLASH Studio Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$536k
Blend (final)
Blend
$565k
Owner & transaction history
Morton Ranch Plz Phase III Ltd · 5 yrs held
Morton Ranch Plz Phase III Ltd
since 2020
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$745,000
+45.0%
Industrial (general)
$555,000
+7.7%
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 Katy submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Katy 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
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$515,000
Current use
WAREHOUSE, STORAGE
$745,000
Change: +45% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$555,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$32 / 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
$54,424
Tax year 2022
Assessed value
$3,293,429
Assessed 2024
Previous assessed
$3,102,000
+6.2% YoY
Effective rate
1.65%
On assessed value
Assessed land
$980,100
Assessed improvement
$2,313,329
Land market value
$980,100
Improvement market value
$2,313,329
Total market value
$3,293,429
Applied tax rate
19.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2017
Construction
STEEL & CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Total area
17,578 SF
Lot
1.5 ac (65,340 SF)
APN
1346750010004
UPID
US83-1093014
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$515,000
WAREHOUSE, STORAGE
Est. value
$745,000
INDUSTRIAL (GENERAL)
Est. value
$555,000
NEIGHBORHOOD: SHOPPING CENTER Current
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
2017
Construction
STEEL & CONCRETE
Heating
FORCED AIR
Cooling
Yes
Buildings
1
Lot
1.5 ac
Current owner
From public records · entity-resolved
Morton Ranch Plz Phase III Ltd
Individual
Mailing address
26 RIATA DR, MAGNOLIA, TX 77354-6483
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Aug 4, 2020
—
Morton Ranch Plz Phase III Ltd
Morton Ranch Plaza Ltd
Quit Claim Deed
related
$293,338 · Bancorpsouth
Oct 5, 2018
—
Jpb Holdings LP
Morton Ranch Plaza Phase I Ltd
Grant Deed
related
—
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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