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Property profile & analytics
OFF-MARKET
Estimated value
$31,335,000
High-rise multifamily apartments
2404 Navigation Blvd 300 Houston, TX 77003-1586
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-2281302
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2019
Construction
BRICK
Total area
324,334 SF
Lot
1.86 ac (80,813 SF)
APN
1407360020001
UPID
US82-2281302
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
-
Kinesiwell: Integrated Movement Therapy Dental Office Pharmacy
-
Tako Media Photography Service (Bike/Boat/Book/etc) Store
-
Blink Charging Station Electric Vehicle Charging Station
-
Forth at Navigation Apartment Building Apartment Complex
-
Delsolpizza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$35.97M
Blend (final)
Blend
$31.34M
Owner & transaction history
Mp Navigation LLC · 5 yrs held
Mp Navigation LLC
since 2020
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$48.4M
+78.6%
Commercial (general)
$41.2M
+52.1%
Restaurant
$28.8M
+6.3%
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 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$27,125,000
Current use
AUTO REPAIR, GARAGE
$48,435,000
Change: +79% · Conversion: Difficult
COMMERCIAL (GENERAL)
$41,240,000
Change: +52% · Conversion: Moderate
RESTAURANT
$28,835,000
Change: +6% · Conversion: Difficult
RETAIL STORES
$23,490,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$31.34M
Range $28.20M – $34.47M · ±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
$97 / 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
$1,615,514
Tax year 2022
Assessed value
$65,158,003
Assessed 2024
Previous assessed
$80,181,915
-18.7% YoY
Effective rate
2.48%
On assessed value
Assessed land
$2,828,455
Assessed improvement
$62,329,548
Land market value
$2,828,455
Improvement market value
$62,329,548
Total market value
$65,158,003
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2019
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Total area
324,334 SF
Lot
1.86 ac (80,813 SF)
APN
1407360020001
UPID
US82-2281302
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$27.1M
AUTO REPAIR, GARAGE
Est. value
$48.4M
COMMERCIAL (GENERAL)
Est. value
$41.2M
RESTAURANT
Est. value
$28.8M
RETAIL STORES
Est. value
$23.5M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RESTAURANT
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
2019
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Buildings
3
Lot
1.86 ac
Current owner
From public records · entity-resolved
Mp Navigation LLC
Entity
Mailing address
135 WATER ST, NAPERVILLE, IL 60540-5493
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2020
—
Mp Navigation LLC
—
Deed
related
$59,800,000 · Saperean Cap III Note Lender L
Mar 23, 2020
—
Mp Navigation LLC
—
Deed
related
$59,800,000 · Saperean Cap III Originator Ll
—
—
Mp Navigation LLC
—
Deed Of Trust
related
$59,800,000 · Saperean Cap III Originator Ll
—
—
Mp Navigation LLC
—
Loan Modification
related
$59,800,000 · Saperean Cap III Note Lender L
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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