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Property profile & analytics
OFF-MARKET
Estimated value
$1,110,000
Garden apartment buildings
302 Cobia Dr 351 Katy, TX 77494-6964
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-9841349
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2014
Construction
FRAME
Total area
38,812 SF
Lot
14.6 ac (636,020 SF)
APN
1346160070003
UPID
US82-9841349
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
-
Olympus Grand Crossing Apartment Building Apartment Complex
-
BUSA EXPORTS Shipping Company Freight Service
-
Tablas Bistrot USA Take-out & Catering Catering Service
-
Gerencia con Mente y Corazón Marketing & Advertising
-
Tubitos Lake Swimming Lake
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$975k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.24M
Blend (final)
Blend
$1.11M
Owner & transaction history
Ww Olympus Grand Crossing LP · 7 yrs held
Ww Olympus Grand Crossing LP
since 2018
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+56.1%
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 Katy submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Katy 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
$975,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$755,000
Current use
RETAIL STORES
$1,180,000
Change: +56% · Conversion: Difficult
Blend value · Realmo final
$1.11M
Range $999k – $1.22M · ±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
$29 / 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
$1,185,266
Tax year 2022
Assessed value
$67,111,399
Assessed 2024
Previous assessed
$67,556,175
-0.7% YoY
Effective rate
1.77%
On assessed value
Assessed land
$9,540,300
Assessed improvement
$57,571,099
Land market value
$9,540,300
Improvement market value
$57,571,099
Total market value
$67,111,399
Applied tax rate
19.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2014
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
16
Stories
3
Total area
38,812 SF
Lot
14.6 ac (636,020 SF)
APN
1346160070003
UPID
US82-9841349
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$755,000
RETAIL STORES
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
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
2014
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
16
Lot
14.6 ac
Current owner
From public records · entity-resolved
Ww Olympus Grand Crossing LP
Entity
Mailing address
500 THROCKMORTON ST STE #300, FORT WORTH, TX 76102-3745
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 1, 2018
—
Ww Olympus Grand Crossing LP
Grand Crossing Apartments LLC
Quit Claim Deed
related
$37,232,000 · Berkadia Com'l Mtg
Jun 2, 2017
—
Grand Crossing Apartments Ll
—
Deed
related
$34,930,000 · Northmarq Cap
Mar 7, 2017
—
Ti-hud Investments I LLC
Grand Crossing Apartments LLC
Grant Deed
related
—
Feb 27, 2017
—
Grand Crossing Apartments LLC
Ti-hud Investments I LLC
Warranty Deed
related
—
—
—
Grand Crossing Apartments Ll
—
Deed Of Trust
related
$34,930,000 · Northmarq Cap
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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