New search
Property profile & analytics
OFF-MARKET
Estimated value
$36,575,000
Office buildings
3 Greenway Plz, Houston, TX 77046-0395
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US83-1444708
Property profile
Verified
Property type
Office buildings
Use group
SKYSCRAPER/HIGH-RISE (COM OFFICES)
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
530,964 SF
Lot
20.76 ac (904,515 SF)
APN
1201990010007
UPID
US83-1444708
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
-
Mid West Electric Co Electrical Service General Contractor
-
Car Butler Inc Car Wash
-
McShane Insurance Insurance Agency
-
ArrowStone Financial Financial Advisor
-
Foster LLP Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$36.58M
Owner & transaction history
GWP EAST LLC
GWP EAST LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$53.7M
+45.3%
Auto repair, garage
$49.6M
+34.2%
Retail stores
$39.2M
+6.0%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$36,935,000
Current use
RESTAURANT
$53,675,000
Change: +45% · Conversion: Moderate
AUTO REPAIR, GARAGE
$49,555,000
Change: +34% · Conversion: Difficult
RETAIL STORES
$39,155,000
Change: +6% · Conversion: Moderate
MEDICAL BUILDING
$33,885,000
Change: -8% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$33,195,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$36.58M
Range $32.92M – $40.23M · ±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
$69 / 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
$6,183,111
Tax year 2022
Assessed value
$297,690,810
Assessed 2024
Previous assessed
$306,882,919
-3.0% YoY
Effective rate
2.08%
On assessed value
Assessed land
$144,722,400
Assessed improvement
$152,968,410
Land market value
$144,722,400
Improvement market value
$152,968,410
Total market value
$297,690,810
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 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
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
4
Stories
21
Total area
530,964 SF
Lot
20.76 ac (904,515 SF)
APN
1201990010007
UPID
US83-1444708
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
OFFICE BUILDING Current
Est. value
$36.9M
RESTAURANT
Est. value
$53.7M
AUTO REPAIR, GARAGE
Est. value
$49.6M
RETAIL STORES
Est. value
$39.2M
MEDICAL BUILDING
Est. value
$33.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$33.2M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
21
Buildings
4
Lot
20.76 ac
Current owner
From public records · entity-resolved
GWP EAST LLC
Entity
Free & Clear · 0 yrs held
Mailing address
800 N MAGNOLIA AVE STE #1625, ORLANDO, FL 32803-3258
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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 3 Greenway Plz?
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.
