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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Strip malls
23441 Kingsland Blvd, Katy, TX 77494-8060
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-9242161
Property summary
AI-generated overview
The Shops at Cobia, located at 23441 & 23445 Kingsland Blvd in Katy, Texas (zip code 77494), offers exceptional retail space for lease in Harris County. This two-building property boasts a total of 20,150 square feet, with a flexible layout accommodating various business needs. Currently, there is 11,310 square feet of vacant space available, divisible into units as small as 4,485 square feet. Larger contiguous spaces of up to 6,825 square feet are also available, providing options for businesses of different sizes. The property's prime location in Katy offers excellent visibility and accessibility, making it an ideal location for retailers seeking a thriving market. The property is classified as multi-tenant retail space. This presents a unique opportunity for businesses to establish a strong presence in a vibrant community. Interested parties are encouraged to inquire about lease terms and available space configurations. The property is situated at 29.771489 latitude and -95.781829 longitude.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2022
Construction
STEEL FRAME
Total area
21,140 SF
Lot
2.14 ac (93,436 SF)
APN
1313420010001
UPID
US82-9242161
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
-
Pediatricz Now Kingsland Medical Clinic Pediatrician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$705k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$510k
Blend (final)
Blend
$605k
Owner & transaction history
Bearcreek Business INC · 9 yrs held
Bearcreek Business INC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$640,000
+26.3%
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 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
$705,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$510,000
Current use
RETAIL STORES
$640,000
Change: +26% · Conversion: Easy
Blend value · Realmo final
$605k
Range $545k – $666k · ±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
$29 / 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
$65,454
Tax year 2022
Assessed value
$3,844,647
Assessed 2024
Previous assessed
$3,730,635
+3.1% YoY
Effective rate
1.70%
On assessed value
Assessed land
$1,401,540
Assessed improvement
$2,443,107
Land market value
$1,401,540
Improvement market value
$2,443,107
Total market value
$3,844,647
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
2022
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Total area
21,140 SF
Lot
2.14 ac (93,436 SF)
APN
1313420010001
UPID
US82-9242161
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
$510,000
RETAIL STORES
Est. value
$640,000
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
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
2022
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Buildings
2
Lot
2.14 ac
Current owner
From public records · entity-resolved
Bearcreek Business INC
Entity
Mailing address
12404 S KIRKWOOD RD, STAFFORD, TX 77477-2835
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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
Jun 13, 2019
—
Bearcreek Business INC
—
Deed
related
$1,455,662 · Allegiance Bk
Apr 9, 2019
—
Bearcreek Business INC
—
Deed
related
$1,466,824 · Allegiance Bk
Aug 31, 2016
—
Bearcreek Business INC
The Reserve At Grand Parkway Lyd
Special Warranty Deed
$1,366,759 · Bearcreek Business INC
—
—
Bearcreek Business INC
—
Loan Modification
related
$1,466,824 · Allegiance Bk
—
—
Reserve At Grand Parkway Ltd
—
Loan Modification
related
$1,251,235 · Tradition Bk
—
—
Bearcreek Business INC
—
Loan Modification
related
$1,455,662 · Allegiance Bk
—
—
Reserve At Grand Parkway Ltd
—
Loan Modification
related
$753,807 · Tradition Bk
—
—
Reserve At Grand Parkway Ltd
—
Deed Of Trust
related
$1,967,987 · Tradition 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.
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