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Property profile & analytics
OFF-MARKET
Estimated value
$1,100,000
Garden apartment buildings
22777 Franz Rd 250 Katy, TX 77449-2748
Entity Owned
11-yr Hold
Free & Clear
Property ID
US82-3462121
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2008
Construction
FRAME
Total area
53,302 SF
Lot
11.51 ac (501,441 SF)
APN
1310620010001
UPID
US82-3462121
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
-
GLB Services Pllc Employment Agency
-
DR Freelance Drafting & Construction Services Renovation Specialist (Bike/Boat/Book/etc) Store
-
Ambit Energy - Independent Consultant Electric Utility Company Service Establishment
-
Easi Self Storage Unit Storage Facility
-
The Grand Parkway Apartments Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.16M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.10M
Owner & transaction history
Pbh Parkway LLC · 11 yrs held
Pbh Parkway LLC
since 2015
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.7M
+18.4%
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 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
$1,160,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,415,000
Current use
INDUSTRIAL (GENERAL)
$1,680,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$1.10M
Range $990k – $1.21M · ±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
$21 / 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
$710,455
Tax year 2022
Assessed value
$38,798,811
Assessed 2024
Previous assessed
$40,493,562
-4.2% YoY
Effective rate
1.83%
On assessed value
Assessed land
$3,639,528
Assessed improvement
$35,159,283
Land market value
$3,639,528
Improvement market value
$35,159,283
Total market value
$38,798,811
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2008
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
10
Stories
3
Total area
53,302 SF
Lot
11.51 ac (501,441 SF)
APN
1310620010001
UPID
US82-3462121
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS) Current
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
2008
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
10
Lot
11.51 ac
Current owner
From public records · entity-resolved
Pbh Parkway LLC
Entity
Free & Clear · 11 yrs held
Mailing address
22777 FRANZ RD #250, KATY, TX 77449-2748
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2019
—
Pbh Parkway LLC
—
Deed
related
$20,096,000 · Cbre Cap Markets
Feb 5, 2015
—
Pbh Parkway LLC
Providence Grand Parkway II Ll
Grant Deed
related
—
Sep 5, 2008
—
Grand Parkway Providence II
Providence Grand Parkway Ltd
Quit Claim Deed
related
$16,204,000 · Bank Of America
Oct 19, 2007
—
Providence Grand Parkway Ltd
Westside Ventures Ltd
Grant Deed
$1,100,000 · Frost National Bank
—
—
Pbh Parkway LLC
—
Deed Of Trust
related
$20,096,000 · Cbre Cap Markets
—
—
Grand Parkway Providence II
—
Deed Of Trust
related
$17,000,000 · Beech Street Capital LLC
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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