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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Medical Office Space
2505 Shepherd Dr, Houston, TX 77008-1927
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-0813216
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1981
Construction
STEEL FRAME
Total area
10,952 SF
Lot
0.6 ac (26,214 SF)
APN
1243940010001
UPID
US82-0813216
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
-
Dr. Douglas A. Karpen, MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$865k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$879k
Blend (final)
Blend
$870k
Owner & transaction history
2505 North Shepherd Gp LLC · 3 yrs held
2505 North Shepherd Gp LLC
since 2023
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+86.5%
Restaurant
$1.4M
+78.2%
Retail stores
$1.2M
+50.6%
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 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
$865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$765,000
Current use
AUTO REPAIR, GARAGE
$1,430,000
Change: +87% · Conversion: Difficult
RESTAURANT
$1,365,000
Change: +78% · Conversion: Difficult
RETAIL STORES
$1,155,000
Change: +51% · Conversion: Difficult
OFFICE BUILDING
$830,000
Change: +8% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$805,000
Change: +5% · Conversion: Moderate
WAREHOUSE, STORAGE
$785,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$870k
Range $783k – $957k · ±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
$79 / 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
$84,940
Tax year 2022
Assessed value
$4,164,781
Assessed 2024
Previous assessed
$4,215,763
-1.2% YoY
Effective rate
2.04%
On assessed value
Assessed land
$2,621,400
Assessed improvement
$1,543,381
Land market value
$2,621,400
Improvement market value
$1,543,381
Total market value
$4,164,781
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
10,952 SF
Lot
0.6 ac (26,214 SF)
APN
1243940010001
UPID
US82-0813216
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
MEDICAL BUILDING Current
Est. value
$765,000
AUTO REPAIR, GARAGE
Est. value
$1.4M
RESTAURANT
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
OFFICE BUILDING
Est. value
$830,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$805,000
WAREHOUSE, STORAGE
Est. value
$785,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
2505 North Shepherd Gp LLC
Entity
Mailing address
1724 RICHMOND AVE, HOUSTON, TX 77098-3604
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2023
—
2505 North Shepherd Gp LLC
—
Deed
related
$450,000 · Guaranty Bank & Trust NA
Feb 10, 2023
—
2505 North Shepherd Gp LLC
Loire LP
Venders Lien
$4,087,500 · Karpen 1994 Family LP
May 6, 2010
—
Leila B Quezada
Blantyre Homes Ltd
Grant Deed
$177,608 · Bank Of America
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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