New search
Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Office buildings
32620 Fm 2978th Rd, Magnolia, TX 77354-6041
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US83-2392088
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2016
Total area
5,114 SF
Lot
6.51 ac (283,793 SF)
Zoning code
2
APN
0224-00-00102
UPID
US83-2392088
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
-
Penske Truck Rental Car Rental Facility
-
Amazing Spaces Storage Centers Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$830k
CAP Approach
CAP
$985k
Comparable Approach
Comparable
$778k
Blend (final)
Blend
$805k
Owner & transaction history
Smst 32620 Fm 2978 Rd LLC · 1 yrs held
Smst 32620 Fm 2978 Rd LLC
since 2025
7 recorded transactions
Zoning & alternative use
2 · Magnolia, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$605,000
+42.0%
Restaurant
$590,000
+37.7%
Auto repair, garage
$530,000
+23.8%
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
$830,000
CAP Approach
CAP Return
Estimation
6%
$1,065,000
6.5%
$985,000
7%
$915,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$605,000
Change: +42% · Conversion: Easy
RESTAURANT
$590,000
Change: +38% · Conversion: Moderate
AUTO REPAIR, GARAGE
$530,000
Change: +24% · Conversion: Difficult
WAREHOUSE, STORAGE
$520,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$805k
Range $725k – $886k · ±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
$157 / 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
$110,509
Tax year 2024
Assessed value
$7,175,000
Assessed 2024
Previous assessed
$7,000,000
+2.5% YoY
Effective rate
1.54%
On assessed value
Assessed land
$3,405,521
Assessed improvement
$3,769,479
Land market value
$3,405,521
Improvement market value
$3,769,479
Total market value
$7,175,000
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
OFFICE BUILDING
Status
Off-Market
Year built
2016
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Total area
5,114 SF
Lot
6.51 ac (283,793 SF)
Zoning code
2
APN
0224-00-00102
UPID
US83-2392088
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$605,000
RESTAURANT
Est. value
$590,000
AUTO REPAIR, GARAGE
Est. value
$530,000
WAREHOUSE, STORAGE
Est. value
$520,000
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2016
Heating
FORCED AIR
Cooling
Yes
Buildings
2
Lot
6.51 ac
Current owner
From public records · entity-resolved
Smst 32620 Fm 2978 Rd LLC
Entity
Free & Clear · 1 yrs held
Mailing address
480 WILDWOOD FRST DRSUITE140, SPRING, TX 77380-3491
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2025
—
Smst 32620 Fm 2978 Rd LLC
K Kies Vi LLC
Special Warranty Deed
—
Jun 7, 2018
—
K-kies Vi LLC
—
Grant Deed
related
$7,750,000 · Americo Finl Life & Annunity I
May 22, 2018
—
K-kies Vi LLC
—
Deed
related
$7,406,135 · Bank Of River Oaks
Dec 15, 2017
—
K-kies Vi LLC
—
Deed
related
$7,719,344 · Bank Of River Oaks
May 8, 2017
—
K-kies Vi LLC
—
Deed
related
$7,719,344 · Bank Of River Oaks
Feb 17, 2017
—
K-kies Vi LLC
—
Deed
related
$7,719,344 · Bank Of River Oaks
Oct 7, 2004
—
Tripple B Storage
Pugh,roy C & Carole D
Grant Deed
$618,040 · Woodforest National Bank
—
—
Tripple B Storage LP
—
Deed Of Trust
related
$291,373 · Woodforest National Bank
—
—
Tripple B Storage LP
—
Deed Of Trust
related
$215,735 · Woodforest National Bank
—
—
K-kies Vi LLC
—
Loan Modification
related
$7,719,344 · Bank Of River Oaks
—
—
K-kies Vi LLC
—
Loan Modification
related
$7,719,344 · Bank Of River Oaks
—
—
K-kies Vi LLC
—
Loan Modification
related
$7,719,344 · Bank Of River Oaks
—
—
K-kies Vi LLC
—
Loan Modification
related
$7,406,135 · Bank Of River Oaks
—
—
Tripple B Storage LP
—
Deed Of Trust
related
$329,588 · Woodforest National Bank
—
—
Tripple B Storage
—
Deed Of Trust
related
$333,175 · Woodforest 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.
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 32620 Fm 2978th Rd?
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.
