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Property profile & analytics
OFF-MARKET
Estimated value
$7,770,000
Office buildings
2477 Fm 1488th Rd, Conroe, TX 77384-4396
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US83-2377646
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2015
Total area
46,400 SF
Lot
15.42 ac (671,739 SF)
Zoning code
6
APN
0490-00-01600
UPID
US83-2377646
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
-
EmporioEmpori Big Box & Wholesale Store
-
Waka Waka Party Event Planning
-
TGB Travel Travel Agency
-
The House Of Baytes Photography Service (Bike/Boat/Book/etc) Store
-
Berkshire Jones Forest Apartments Apartment Rental Agency Furnished Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.93M
Comparable Approach
Comparable
$6.61M
Blend (final)
Blend
$7.77M
Owner & transaction history
Bmef Jones Forest LLC · 6 yrs held
Bmef Jones Forest LLC
since 2020
3 recorded transactions
Zoning & alternative use
6 · Conroe, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.2M
+93.8%
Restaurant
$5.5M
+48.4%
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 Conroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conroe 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%
$9,670,000
6.5%
$8,925,000
7%
$8,290,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,210,000
Change: +94% · Conversion: Easy
RESTAURANT
$5,520,000
Change: +48% · Conversion: Moderate
Blend value · Realmo final
$7.77M
Range $6.99M – $8.55M · ±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
$167 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$1,082,710
Tax year 2024
Assessed value
$65,000,000
Assessed 2024
Previous assessed
$56,500,000
+15.0% YoY
Effective rate
1.67%
On assessed value
Assessed land
$9,404,221
Assessed improvement
$55,595,779
Land market value
$9,404,221
Improvement market value
$55,595,779
Total market value
$65,000,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2015
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
5
Total area
46,400 SF
Lot
15.42 ac (671,739 SF)
Zoning code
6
APN
0490-00-01600
UPID
US83-2377646
Jurisdiction
MONTGOMERY
Zoning & alternative use
6 · Conroe, TX
Zoning 6 · permitted uses
6 · Conroe, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$7.2M
RESTAURANT
Est. value
$5.5M
COMMERCIAL (GENERAL)
RESTAURANT
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
2015
Heating
FORCED AIR
Cooling
Yes
Buildings
5
Lot
15.42 ac
Current owner
From public records · entity-resolved
Bmef Jones Forest LLC
Entity
Mailing address
1 BEACON ST, BOSTON, MA 02108-3107
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2020
—
Bmef Jones Forest LLC
Rim Investors 2013 6 LP
Special Warranty Deed
$45,575,000 · Prudential Affordable Mortgage Comp
Mar 1, 2019
—
Alden Holding Co
—
Deed
related
$1,117,933 · Woodforest Nat'l Bk
—
—
Alden Holding Co
—
Loan Modification
related
$1,117,933 · Woodforest Nat'l 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
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