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Property profile & analytics
OFF-MARKET
Estimated value
$1,260,000
Office buildings
3311 Richmond Ave, Houston, TX 77098-3018
Trust Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US83-3969022
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1962
Construction
STEEL FRAME
Total area
84,981 SF
Lot
1.19 ac (51,658 SF)
APN
650850050003
UPID
US83-3969022
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
-
OptiMargin Software Co. (Bike/Boat/Book/etc) Store Corporate Office
-
Penelope J. Hooks MD Physician
-
Farmers Insurance - Mark Rafail Insurance Agency
-
Meraki Yoga Gym & Fitness Center
-
eCommerce Developer Houston,Texas Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.26M
Owner & transaction history
Wertheim,thomas Trust · 8 yrs held
Wertheim,thomas Trust
since 2018
4 recorded transactions
Zoning & alternative use
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 Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Houston 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$15 / 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
$114,364
Tax year 2022
Assessed value
$5,402,905
Assessed 2024
Previous assessed
$5,319,723
+1.6% YoY
Effective rate
2.12%
On assessed value
Assessed land
$5,165,700
Assessed improvement
$237,205
Land market value
$5,165,700
Improvement market value
$237,205
Total market value
$5,402,905
Applied tax rate
1.0000
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
Off-Market
Year built
1962
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
3
Total area
84,981 SF
Lot
1.19 ac (51,658 SF)
APN
650850050003
UPID
US83-3969022
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
Building & site characteristics
From public records
Year built
1962
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
Wertheim,thomas Trust
Trust
Free & Clear · 8 yrs held
Mailing address
70 S COPPER SAGE CIR, THE WOODLANDS, TX 77381-4604
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 21, 2018
—
Wertheim,thomas Trust
Wertheim,thomas
Quit Claim Deed
related
—
May 16, 2007
—
Thomas A Wertheim
3311 Richmond LLC
Venders Lien
$2,670,500 · Citibank NA
Jan 21, 2004
—
Bruce Thumann
Kinsel Industries INC
Grant Deed
$200,000 · Southtrust Bank NA
—
—
I Zns
—
Deed Of Trust
related
$1,759,598 · 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
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