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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Retail space
32823 Fm 2978th Rd, Magnolia, TX 77354-6060
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US83-2387178
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1998
Total area
16,480 SF
Lot
1.84 ac (79,976 SF)
Zoning code
2
APN
9495-00-39600
UPID
US83-2387178
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
-
Patra's Thai Cuisine Restaurant
-
Massage 4 U Spa & Massage Center
-
Yummy Pho House Restaurant
-
Waterfalls Cafe Magnolia Restaurant
-
Texan Mattress Magnolia Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$390k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$661k
Blend (final)
Blend
$525k
Owner & transaction history
Alan Charap · 1 yrs held
Alan Charap
since 2024
7 recorded transactions
Zoning & alternative use
2 · Magnolia, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$390,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$32 / 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
$34,082
Tax year 2024
Assessed value
$2,300,000
Assessed 2024
Previous assessed
$2,158,880
+6.5% YoY
Effective rate
1.48%
On assessed value
Assessed land
$959,712
Assessed improvement
$1,340,288
Land market value
$959,712
Improvement market value
$1,340,288
Total market value
$2,300,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1998
Heating
FORCED AIR
Cooling
CENTRAL
Bathrooms
2
Total area
16,480 SF
Lot
1.84 ac (79,976 SF)
Zoning code
2
APN
9495-00-39600
UPID
US83-2387178
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.
Building & site characteristics
From public records
Year built
1998
Heating
FORCED AIR
Cooling
Yes
Bathrooms
2
Lot
1.84 ac
Current owner
From public records · entity-resolved
Alan Charap
Individual
Mailing address
8381 WESTVIEW DR #200, HOUSTON, TX 77055-6737
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2024
—
Alan Charap
Signal Park 2978 LLC
Special Warranty Deed
—
Dec 3, 2019
—
Signal Park 2978 LLC
Park On 2978 Plaza Ltd
Venders Lien
$3,108,750 · Morgan Stanley Private Bank NA
Jul 29, 2008
—
Park On 2978 Plaza Ltd
—
Trustees Deed
related
$116,450 · Woodforest National Bank
Apr 12, 1999
—
Gerald L Evans
—
Grant Deed
related
$525,000 · Unity National Bank
May 19, 1998
—
Gerald L Evans
Alwazzan,isa A & Winnie S
Grant Deed
$85,000 · Unity National Bank
Apr 4, 1997
—
Isa A Alwazzan
Tee,ling K
Grant Deed
related
—
—
—
Park On 2978 Plaza Ltd
—
Deed Of Trust
related
$1,461,131 · Woodforest National Bank
—
—
Gerald L Evans
—
Deed Of Trust
related
$440,000 · Unity National Bank
—
—
Park On 2978 Plaza Ltd
—
Deed Of Trust
related
$251,450 · Woodforest National Bank
—
—
Gerald L Evans
—
Deed Of Trust
related
$465,070 · Unity National Bank
—
—
Park On 2978 Plaza Ltd
—
Deed Of Trust
related
$1,725,000 · Symetra Life Insurance Co
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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