Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,445,000
Grocery and convenience stores
2718 Old Chocolate Byu Rd Pearland, TX 77584-8977
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US82-0306742
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2015
Total area
27,935 SF
Lot
4.01 ac (174,689 SF)
APN
0309-0037-000
UPID
US82-0306742
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
-
Sprouts Farmers Market Grocery & Convenience Store Food Market
-
Primo Water Refill Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.67M
Blend (final)
Blend
$1.45M
Owner & transaction history
Richard Lerner · 5 yrs held
Richard Lerner
since 2021
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.9M
+66.8%
Office building
$1.7M
+48.7%
Medical building
$1.6M
+40.7%
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 Pearland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pearland 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
$1,225,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,110,000
Current use
WAREHOUSE, STORAGE
$1,850,000
Change: +67% · Conversion: Difficult
OFFICE BUILDING
$1,650,000
Change: +49% · Conversion: Easy
MEDICAL BUILDING
$1,560,000
Change: +41% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,220,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$1.45M
Range $1.30M – $1.59M · ±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
$52 / 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 2018Property tax & assessments
Tax year 2018
Tax billed
$148,536
Tax year 2018
Assessed value
$10,253,080
Assessed 2023
Previous assessed
$9,313,260
+10.1% YoY
Effective rate
1.45%
On assessed value
Assessed land
$2,725,140
Assessed improvement
$7,527,940
Land market value
$2,725,140
Improvement market value
$7,527,940
Total market value
$10,253,080
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2015
Heating
PACKAGE
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
27,935 SF
Lot
4.01 ac (174,689 SF)
APN
0309-0037-000
UPID
US82-0306742
Jurisdiction
BRAZORIA
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
RETAIL STORES Current
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.6M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES Current
WAREHOUSE, STORAGE
OFFICE BUILDING
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
PACKAGE
Cooling
Yes
Stories
1
Bathrooms
2
Lot
4.01 ac
Current owner
From public records · entity-resolved
Richard Lerner
Individual
Mailing address
1123 GRANVILLE DR, NEWPORT BEACH, CA 92660-6226
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 24, 2021
—
Richard Lerner
La Partners
Special Warranty Deed
$5,769,915 · Credit Union 1
Jan 18, 2005
—
Viada Family Trust
Viada Family Trust
Quit Claim Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2718 Old Chocolate Byu Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
