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Property profile & analytics
FOR LEASE
Office buildings
32685-32715 Us Highway 281 N Bulverde, TX 78163
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US82-2880027
For Lease
1 / 4
$1,400,000
32685-32715 Us Highway 281 N, Bulverde, TX 78163
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Total area
9,960 SF
Lot
7.45 ac (324,522 SF)
APN
11-0160-0076-00
UPID
US82-2880027
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.35M
Blend (final)
Blend
$1.40M
Owner & transaction history
Satx Property 1 LLC · 4 yrs held
Satx Property 1 LLC
since 2021
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+38.8%
Commercial (general)
$1.1M
+18.6%
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 Bulverde submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bulverde 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
$945,000
Current use
AUTO REPAIR, GARAGE
$1,310,000
Change: +39% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,120,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±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
$141 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$60,406
Tax year 2023
Assessed value
$3,494,490
Assessed 2023
Previous assessed
$3,494,490
+0.0% YoY
Effective rate
1.73%
On assessed value
Assessed land
$2,265,031
Assessed improvement
$1,229,459
Land market value
$2,265,031
Improvement market value
$1,229,459
Total market value
$3,494,490
Applied tax rate
46.0000
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
OFFICE BUILDING
Status
For Lease
Year built
2004
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
9,960 SF
Lot
7.45 ac (324,522 SF)
APN
11-0160-0076-00
UPID
US82-2880027
Jurisdiction
COMAL
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
$945,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2004
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
7.45 ac
Current owner
From public records · entity-resolved
Satx Property 1 LLC
Entity
Mailing address
6464 SAVOY DR STE #865, HOUSTON, TX 77036-3389
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2021
—
Satx Property 1 LLC
Bulverde Ridge Medical Business Par
Venders Lien
$1,550,000 · Bulverde Ridge Medical
Sep 16, 2019
—
Bulverde Ridge Medical Of Busines
—
Deed
related
$650,000 · International Bk/commerce
Jun 10, 2004
—
Bulverde Ridge Medical Of Busn Pa
Ingebretson,daryl J
Warranty Deed
related
$650,000 · International Bank Of Commerce
—
—
Bulverde Ridge Medical Of Busines
—
Loan Modification
related
$650,000 · International Bk/commerce
—
—
Ridge Partners LLC
—
Loan Modification
related
$500,000 · International Bk/commerce
—
—
Bulverde Ridge Medical Of Busn Pa
—
Deed Of Trust
related
$500,000 · International Bank Of Commerce
—
—
Bulverde Ridge Medical Of Busn Pa
—
Loan Modification
related
$650,000 · International Bank Of Commerce
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?”
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