Back to Search
Property profile & analytics
FOR LEASE
Distribution centers
2327 Commerce St Houston, TX 77002
Individually Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US83-4165368
For Lease
1 / 20
$640,000
2327 Commerce St, Houston, TX 77002
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1921
Construction
BRICK
Total area
30,256 SF
Lot
0.39 ac (17,080 SF)
APN
371430000001
UPID
US83-4165368
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
-
Farmers Insurance - Carly Standley Insurance Agency
-
Rebellion Photonics Building Supply General Contractor
-
Printyard (Bike/Boat/Book/etc) Store Printing Service
-
1220 Studios (Bike/Boat/Book/etc) Store Photography Service
-
NUU Group Marketing & Advertising Advertising Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$555k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$722k
Blend (final)
Blend
$640k
Owner & transaction history
2315 Commerce Ltd · 12 yrs held
2315 Commerce Ltd
since 2013
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+25.2%
Neighborhood: shopping center
$835,000
+0.4%
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 Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Houston 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
$555,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$830,000
Current use
OFFICE BUILDING
$1,040,000
Change: +25% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$835,000
Change: +0% · Conversion: Moderate
Blend value · Realmo final
$640k
Range $576k – $704k · ±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 2023Property tax & assessments
Tax year 2023
Tax billed
$50,293
Tax year 2023
Assessed value
$2,559,667
Assessed 2024
Previous assessed
$2,559,667
+0.0% YoY
Effective rate
1.96%
On assessed value
Assessed land
$597,870
Assessed improvement
$1,961,797
Land market value
$597,870
Improvement market value
$1,961,797
Total market value
$2,559,667
Applied tax rate
1.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1921
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
30,256 SF
Lot
0.39 ac (17,080 SF)
APN
371430000001
UPID
US83-4165368
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
WAREHOUSE, STORAGE Current
Est. value
$830,000
OFFICE BUILDING
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$835,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1921
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
2315 Commerce Ltd
Individual
Free & Clear · 12 yrs held
Mailing address
805 RHODE PL STE #300, HOUSTON, TX 77019-2719
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 22, 2022
—
2315 Commerpe Ltd
—
Deed
related
$3,213,816 · Wells Fargo Bank NA
Aug 18, 2016
—
2315 Commerce Ltd
—
Deed
related
$3,231,000 · Wells Fargo Bk
May 13, 2016
—
2315 Commerce Ltd
—
Deed
related
$170,000 · Wells Fargo Bk
Jun 1, 2015
—
2315 Commerce Ltd
—
Trustees Deed
related
$2,640,000 · Wells Fargo Bk
Aug 30, 2013
—
2315 Commerce Ltd
Kmq Realty Group Ltd
Grant Deed
related
—
May 18, 2007
—
Kmq Realty Group Ltd
Dumas,elva K
Grant Deed
related
—
—
—
2315 Commerce Ltd
—
Deed Of Trust
related
$170,000 · Wells Fargo Bk
—
—
2315 Commerce Ltd
—
Deed Of Trust
related
$3,231,000 · Wells Fargo Bk
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?”
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.
