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Property profile & analytics
OFF-MARKET
Estimated value
$46,100,000
Apartment buildings
2323 Long Reach Dr Sugar Land, TX 77478-4190
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US82-3589547
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1996
Total area
254,210 SF
Lot
10.59 ac (461,475 SF)
Zoning code
JT
APN
6450-00-000-0030-907
UPID
US82-3589547
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
-
CRYOTEC Medical Clinic
-
Fairmont First Colony Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$47.32M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$46.10M
Owner & transaction history
Longreach Associates Ltd I LLC
Longreach Associates Ltd I LLC
2 recorded transactions
Zoning & alternative use
JT · Sugar Land, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Sugar Land submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sugar Land 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%
$51,265,000
6.5%
$47,320,000
7%
$43,940,000
Blend value · Realmo final
$46.10M
Range $41.49M – $50.71M · ±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
$181 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$625,462
Tax year 2023
Assessed value
$33,532,000
Assessed 2024
Previous assessed
$32,865,407
+2.0% YoY
Effective rate
1.87%
On assessed value
Assessed land
$1,969,086
Assessed improvement
$31,562,914
Land market value
$1,969,086
Improvement market value
$31,562,914
Total market value
$33,532,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1996
Heating
CENTRAL
Cooling
CENTRAL
Rooms
63
Total area
254,210 SF
Lot
10.59 ac (461,475 SF)
Zoning code
JT
APN
6450-00-000-0030-907
UPID
US82-3589547
Jurisdiction
FORT BEND
Zoning & alternative use
JT · Sugar Land, TX
Zoning JT · permitted uses
JT · Sugar Land, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sugar Land. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1996
Heating
CENTRAL
Cooling
Yes
Rooms
63
Lot
10.59 ac
Current owner
From public records · entity-resolved
Longreach Associates Ltd I LLC
Entity
Mailing address
2800 W T C JESTER BLVD, HOUSTON, TX 77018-7065
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Longreach Associates Ltd I LLC
—
Deed Of Trust
related
$1,190,000 · State Farm Life Insurance Co
—
—
Longreach Associates Ltd I LLC
—
Deed Of Trust
related
$2,600,000 · State Farm Life Insurance Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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