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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Office buildings
2929 Briarpark Dr 488, Houston, TX 77042-3719
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-0361561
Property profile
Verified
Property type
Office buildings
Use group
SKYSCRAPER/HIGH-RISE (COM OFFICES)
Year built
1981
Construction
STEEL FRAME
Total area
157,638 SF
Lot
3.26 ac (142,219 SF)
APN
1101410000004
UPID
US82-0361561
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
-
Dig It Services Business To Business Service Excavating Contractor
-
Syndigo (formerly Riversand) (Bike/Boat/Book/etc) Store Corporate Office
-
Darling Homes Houston Division Office Corporate Office
-
LUKE Applications, LLC Homeowners' Association
-
Compbenefits Tx Dental Plans Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$850k
Owner & transaction history
Tenant Managers Briarpark LLC · 2 yrs held
Tenant Managers Briarpark LLC
since 2023
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$5 / 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
$129,985
Tax year 2022
Assessed value
$5,163,625
Assessed 2024
Previous assessed
$10,427,889
-50.5% YoY
Effective rate
2.52%
On assessed value
Assessed land
$3,199,928
Assessed improvement
$1,963,697
Land market value
$3,199,928
Improvement market value
$1,963,697
Total market value
$5,163,625
Applied tax rate
8.0000
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
Office buildings
Use group
SKYSCRAPER/HIGH-RISE (COM OFFICES)
Status
Off-Market
Year built
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
6
Total area
157,638 SF
Lot
3.26 ac (142,219 SF)
APN
1101410000004
UPID
US82-0361561
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
Building & site characteristics
From public records
Year built
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
6
Buildings
2
Lot
3.26 ac
Current owner
From public records · entity-resolved
Tenant Managers Briarpark LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2715 DREXEL DR, HOUSTON, TX 77027-5149
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2023
—
Tenant Managers Briarpark LLC
Msbam 2013 C8 Briarpark LLC
Quit Claim Deed
related
—
Dec 7, 2021
$6,000,000
Msbam 2013 C8 Briarpark LLC
2929 Nazlev LP
Trustees Deed
related
—
Dec 21, 2012
—
2929 Nazlev LP
Hw Briar Park LP
Special Warranty Deed
—
Oct 8, 2007
—
Briar Park Hw
Reifpark Corp
Grant Deed
$13,000,000 · Wachovia Bank NA
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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