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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Warehouses
324 Commerce St Clute, TX 77531-5606
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US82-8122955
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2012
Total area
5,000 SF
Lot
2.41 ac (104,980 SF)
APN
2114-0176-000
UPID
US82-8122955
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$390k
CAP Approach
CAP
$480k
Comparable Approach
Comparable
$519k
Blend (final)
Blend
$500k
Owner & transaction history
Merrigan Kort Investments LLC · 7 yrs held
Merrigan Kort Investments LLC
since 2018
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$705,000
+84.9%
Restaurant
$685,000
+79.8%
Auto repair, garage
$615,000
+62.1%
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 Clute submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clute 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
$390,000
CAP Approach
CAP Return
Estimation
6%
$520,000
6.5%
$480,000
7%
$445,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$380,000
Current use
OFFICE BUILDING
$705,000
Change: +85% · Conversion: Difficult
RESTAURANT
$685,000
Change: +80% · Conversion: Difficult
AUTO REPAIR, GARAGE
$615,000
Change: +62% · Conversion: Easy
MEDICAL BUILDING
$450,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$440,000
Change: +15% · Conversion: Moderate
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$100 / 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
$29,372
Tax year 2024
Assessed value
$1,441,950
Assessed 2024
Previous assessed
$1,410,770
+2.2% YoY
Effective rate
2.04%
On assessed value
Assessed land
$251,270
Assessed improvement
$1,190,680
Land market value
$251,270
Improvement market value
$1,190,680
Total market value
$1,441,950
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2012
Heating
PACKAGE
Buildings
2
Bathrooms
1
Total area
5,000 SF
Lot
2.41 ac (104,980 SF)
APN
2114-0176-000
UPID
US82-8122955
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
WAREHOUSE, STORAGE Current
Est. value
$380,000
OFFICE BUILDING
Est. value
$705,000
RESTAURANT
Est. value
$685,000
AUTO REPAIR, GARAGE
Est. value
$615,000
MEDICAL BUILDING
Est. value
$450,000
RETAIL STORES
Est. value
$440,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2012
Heating
PACKAGE
Buildings
2
Bathrooms
1
Lot
2.41 ac
Current owner
From public records · entity-resolved
Merrigan Kort Investments LLC
Entity
Mailing address
PO BOX 665, CASTLE ROCK, CO 80104-0665
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2019
—
Merrigan Kort Investments LLC
—
Deed
related
$267,925 · Spirit Of Tx Bk Ssb
Oct 18, 2018
—
Merrigan Kort Investments LLC
Scott Glick Ents LLC
Grant Deed
$107,500 · Scott Glick Ents LLC
Jul 10, 2015
—
Commerce Street Ip LLC
—
Trustees Deed
related
$925,000 · Texas Gulf Bk
Apr 29, 2013
—
Commerce Street Ip LLC
Collins,heath
Warranty Deed
—
Jul 29, 2011
—
Heath Collins
Howard,marcia D
Warranty Deed
related
—
—
—
Merrigan Kort Investments LLC
—
Deed Of Trust
related
$267,925 · Spirit Of Tx Bk Ssb
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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