Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,770,000
Warehouses
22987 County Rd 187 Bullard, TX 75757-8103
Entity Owned
Free & Clear
Property ID
US83-0949502
Property summary
AI-generated overview
This exceptional self-storage facility in Bullard, Texas, presents a compelling investment opportunity. Located at 22987 County Road 187, this property encompasses 11.89 acres and boasts 518,146 square feet of space. The facility comprises five buildings, offering a mix of 113 covered and 20 uncovered storage units, catering to diverse storage needs. Security features include a mechanical gate and a secure area, ensuring tenant peace of mind. A significant advantage is the on-site manager's residence, complete with a pool, facilitating efficient management and customer service. The property also features a full acre of concrete paving, minimizing maintenance. A key benefit is the substantial 6-acre expansion area at the front, providing significant potential for future growth and increased revenue. Situated just two miles from 2,500 homes, this facility benefits from a strong and expanding customer base in a thriving area of Smith County, Texas, zip code 75757. The asking price is $2,650,000. This is a turnkey operation with significant upside potential.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2015
Construction
STEEL FRAME
Total area
18,544 SF
Lot
2.15 ac (93,480 SF)
APN
1-00000-0002-00-008012
UPID
US83-0949502
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.79M
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$1.77M
Owner & transaction history
CRESTVIEW PROPERTY HOLDINGS LLC
CRESTVIEW PROPERTY HOLDINGS LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+56.3%
Retail stores
$1.8M
+40.1%
Office building
$1.8M
+38.3%
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 Bullard submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bullard 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%
$1,935,000
6.5%
$1,785,000
7%
$1,655,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,280,000
Current use
RESTAURANT
$2,000,000
Change: +56% · Conversion: Difficult
RETAIL STORES
$1,795,000
Change: +40% · Conversion: Moderate
OFFICE BUILDING
$1,770,000
Change: +38% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,625,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,625,000
Change: +27% · Conversion: Easy
Blend value · Realmo final
$1.77M
Range $1.59M – $1.95M · ±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
$95 / 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
$12,703
Tax year 2024
Assessed value
$763,316
Assessed 2024
Previous assessed
$772,878
-1.2% YoY
Effective rate
1.66%
On assessed value
Assessed land
$33,769
Assessed improvement
$729,547
Land market value
$33,769
Improvement market value
$729,547
Total market value
$763,316
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2015
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Total area
18,544 SF
Lot
2.15 ac (93,480 SF)
APN
1-00000-0002-00-008012
UPID
US83-0949502
Jurisdiction
SMITH
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
WAREHOUSE, STORAGE Current
Est. value
$1.3M
RESTAURANT
Est. value
$2.0M
RETAIL STORES
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.6M
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2015
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Lot
2.15 ac
Current owner
From public records · entity-resolved
CRESTVIEW PROPERTY HOLDINGS LLC
Entity
Free & Clear · 0 yrs held
Mailing address
22987 COUNTY RD 187, BULLARD, TX 75757-8103
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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?”
You own 22987 County Rd 187?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
