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Property profile & analytics
OFF-MARKET
Estimated value
$1,830,000
Warehouses
29101 Fm 2978th Rd, Magnolia, TX 77354-3090
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US83-2341555
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2006
Total area
18,700 SF
Lot
10.05 ac (437,865 SF)
Zoning code
2
APN
0078-01-00511
UPID
US83-2341555
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
-
Public Storage Storage Facility
-
Gysta Group Video Library Community Center
-
Wood Wise Production Facility Factory
-
Purebreds and Mutts Veterinary Clinic
-
R1 Logistics, LLC. Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.78M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.83M
Owner & transaction history
55 Magnolia Fm Road LLC · 4 yrs held
55 Magnolia Fm Road LLC
since 2021
7 recorded transactions
Zoning & alternative use
2 · Magnolia, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.2M
+17.1%
Restaurant
$2.2M
+13.6%
Auto repair, garage
$1.9M
+2.2%
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 Magnolia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Magnolia 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%
$1,925,000
6.5%
$1,780,000
7%
$1,650,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,895,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,220,000
Change: +17% · Conversion: Difficult
RESTAURANT
$2,155,000
Change: +14% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,935,000
Change: +2% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,620,000
Change: -14% · Conversion: Difficult
OFFICE BUILDING
$1,565,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.83M
Range $1.65M – $2.01M · ±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
$98 / 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
$91,337
Tax year 2024
Assessed value
$6,043,925
Assessed 2024
Previous assessed
$5,785,610
+4.5% YoY
Effective rate
1.51%
On assessed value
Assessed land
$503,292
Assessed improvement
$5,540,633
Land market value
$503,292
Improvement market value
$5,540,633
Total market value
$6,043,925
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2006
Heating
NONE
Cooling
NONE
Buildings
11
Stories
2
Bathrooms
4
Total area
18,700 SF
Lot
10.05 ac (437,865 SF)
Zoning code
2
APN
0078-01-00511
UPID
US83-2341555
Jurisdiction
MONTGOMERY
Zoning & alternative use
2 · Magnolia, TX
Zoning 2 · permitted uses
2 · Magnolia, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Magnolia. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
RESTAURANT
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.6M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2006
Heating
NONE
Cooling
Yes
Stories
2
Buildings
11
Bathrooms
4
Lot
10.05 ac
Current owner
From public records · entity-resolved
55 Magnolia Fm Road LLC
Entity
Mailing address
4901 VINELAND RD STE #350, ORLANDO, FL 32811-7192
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 6, 2021
—
55 Magnolia Fm Road LLC
Cube Hhf Limited Partnership
Special Warranty Deed
$900,000,000 · Citibank NA
Dec 11, 2013
—
Cube Hhf LP
Pmsv 2978 LP
Grant Deed
—
Aug 28, 2006
—
Pmsv 2978
Grdm Management LLC
Grant Deed
related
—
Oct 19, 2005
—
Grdm Management LLC
Molegraaf,hans & Lucretia
Warranty Deed
related
—
Jan 7, 2005
—
Randall E Duncan
—
Trustees Deed
related
$188,000 · Bank Of Texas NA
Sep 17, 2004
—
Randall E Duncan
—
Trustees Deed
related
$188,000 · Bank Of Texas NA
—
—
Grdm Management LLC
—
Deed Of Trust
related
$1,160,000 · Hibernia National Bank
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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