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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Warehouses
33170 Us Hwy 281st N Bulverde, TX 78163-3123
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-5293040
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2021
Total area
13,600 SF
Lot
2.58 ac (112,428 SF)
APN
22-0364-0003-03
UPID
US82-5293040
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
$480k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$803k
Blend (final)
Blend
$640k
Owner & transaction history
Martinez Property Investments INC · 10 yrs held
Martinez Property Investments INC
since 2016
6 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 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
$480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$660,000
Current use
Blend value · Realmo final
$640k
Range $576k – $704k · ±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
$47 / 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
$23,758
Tax year 2023
Assessed value
$1,567,090
Assessed 2024
Previous assessed
$1,586,460
-1.2% YoY
Effective rate
1.52%
On assessed value
Assessed land
$890,100
Assessed improvement
$676,990
Land market value
$890,100
Improvement market value
$676,990
Total market value
$1,567,090
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2021
Heating
NONE
Total area
13,600 SF
Lot
2.58 ac (112,428 SF)
APN
22-0364-0003-03
UPID
US82-5293040
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
WAREHOUSE, STORAGE Current
Est. value
$660,000
WAREHOUSE, STORAGE Current
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
2021
Heating
NONE
Lot
2.58 ac
Current owner
From public records · entity-resolved
Martinez Property Investments INC
Entity
Mailing address
3840 MENGER, SAN ANTONIO, TX 78259-1740
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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
Apr 1, 2016
—
Martinez Property Investments INC
Beverly Gay Hewitt
Venders Lien
$450,000 · Broadway National Bank
Dec 1, 2011
—
Beverly G Hewitt
Hewitt Group LP
Quit Claim Deed
related
—
Aug 20, 2010
—
Hewitt Group LP
Riedel Vicki L 1999 Trust
Grant Deed
related
—
Jan 2, 2008
—
Stillwaters Trust
Riedel Builders Ltd
Warranty Deed
—
Nov 3, 2004
—
Riedel Builders Ltd
Buckplace
Warranty Deed
related
$342,500 · Blanco National Bank
—
—
Riedel Builders Ltd
—
Loan Modification
related
$293,593 · Blanco 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
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