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Property profile & analytics
OFF-MARKET
Estimated value
$18,490,000
Refrigerated & Cold Storage
23623 Colonial Pkwy Katy, TX 77493-3456
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-3417783
Property profile
Verified
Property type
Refrigerated & Cold Storage
Use group
COLD STORAGE
Year built
1995
Construction
STEEL FRAME
Total area
538,723 SF
Lot
63.65 ac (2,772,594 SF)
APN
1183550020001
UPID
US82-3417783
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
-
Southwest Foods Distributing, Inc. Grocery & Convenience Store Distribution Center
-
American choice food products Industrial Manufacturer Production Facility
-
Refrigerated Food Systems, Inc. Storage Facility Warehouse & Storage
-
BFS - Houston Agricultural Supply Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.49M
Owner & transaction history
Memorial Hermann Health System · 3 yrs held
Memorial Hermann Health System
since 2023
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$30.7M
+0.6%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$30,525,000
Current use
AUTO REPAIR, GARAGE
$30,690,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$18.49M
Range $16.64M – $20.34M · ±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
$34 / 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
$1,319,718
Tax year 2023
Assessed value
$86,000,000
Assessed 2024
Previous assessed
$75,219,485
+14.3% YoY
Effective rate
1.53%
On assessed value
Assessed land
$29,622,401
Assessed improvement
$56,377,599
Land market value
$29,622,401
Improvement market value
$56,377,599
Total market value
$86,000,000
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
Refrigerated & Cold Storage
Use group
COLD STORAGE
Status
Off-Market
Year built
1995
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
6
Stories
1
Total area
538,723 SF
Lot
63.65 ac (2,772,594 SF)
APN
1183550020001
UPID
US82-3417783
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
$30.5M
AUTO REPAIR, GARAGE
Est. value
$30.7M
WAREHOUSE, STORAGE Current
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
1995
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
6
Lot
63.65 ac
Current owner
From public records · entity-resolved
Memorial Hermann Health System
Individual
Free & Clear · 3 yrs held
Mailing address
2901 W COAST HWY STE #200, NEWPORT BEACH, CA 92663-4045
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 26, 2024
—
Katy Mission LLC
—
Deed
related
$74,740,000 · Argentic Real Estate Investment 2 LLC
Jan 12, 2023
—
Memorial Hermann Health System
Katy Mission LLC
Special Warranty Deed
—
Dec 17, 2021
—
Katy Mission LLC
99 Cents Only Stores Texas INC
Special Warranty Deed
$67,500,000 · Fortress Credit Co LLC
Feb 16, 2018
—
99 Cents Only Stores Texas INC
—
Grant Deed
related
$131,083,299 · Wilmington Tr
Apr 13, 2012
—
99 Cents Only Stores Texas INC
—
Deed Of Trust
related
$525,000,000 · Royal Bank Of Canada
—
—
99 Cents Only Stores Texas INC
—
Loan Modification
related
$675,000,000 · Royal Bk/canada
—
—
99 Cents Only Stores Texas INC
—
Loan Modification
related
$525,000,000 · Royal Bk/canada
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
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