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Property profile & analytics
FOR LEASE
Distribution centers
3401 Navigation Blvd Houston, TX 77003
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-4511194
For Lease
1 / 5
$8,040,000
3401 Navigation Blvd, Houston, TX 77003
View Listing →
Property summary
AI-generated overview
This 148,200-square-foot industrial property, located at 3401 Navigation Boulevard, Houston, TX 77003, offers flexible spaces ranging from 100 to 100,000 contiguous square feet. The Class B building, constructed in 1980, sits on 12.73 acres and features 32-foot ceilings, 38 loading docks with 38 dock-high doors, and two drive-in doors. Ample parking is available with 20 total spaces. The property is zoned for industrial use (APN: 03719900000045, Harris County) and boasts a multitude of amenities including 24/7 access, high-speed internet, package and mail handling, complimentary beverages, on-site management, and CCTV security. Forklift rentals are also available. The property is currently fully vacant and offers multiple suites (50 total) for various tenancy needs. The power supply is single-phase. Cross street is Engelke Street. This location provides easy access for shipping and receiving, making it ideal for businesses requiring flexible and functional warehouse and office space. The property is divisible down to 100 square feet, offering options for businesses of all sizes.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1980
Construction
STEEL FRAME
Total area
238,575 SF
Lot
12.73 ac (554,606 SF)
APN
371990000045
UPID
US82-4511194
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
-
24/7 Overhead Garage Door Repair Houston Building Supply General Contractor
-
Foundation Repair Houston Construction Company General Contractor
-
Base 3 Farms Production Facility
-
CrossDock Connect Warehouse & Storage
-
QuickBooks Customer Service Accounting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.04M
Blend (final)
Blend
$8.04M
Owner & transaction history
Sl Projerct Texas LP · 4 yrs held
Sl Projerct Texas LP
since 2022
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$12.0M
+12.8%
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 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
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
WAREHOUSE, STORAGE
$10,605,000
Current use
OFFICE BUILDING
$11,970,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$8.04M
Range $7.24M – $8.84M · ±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
$34 / 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
$371,990
Tax year 2023
Assessed value
$19,090,163
Assessed 2024
Previous assessed
$19,090,163
+0.0% YoY
Effective rate
1.95%
On assessed value
Assessed land
$15,528,940
Assessed improvement
$3,561,223
Land market value
$15,528,940
Improvement market value
$3,561,223
Total market value
$19,090,163
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1980
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
1
Stories
1
Total area
238,575 SF
Lot
12.73 ac (554,606 SF)
APN
371990000045
UPID
US82-4511194
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
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$10.6M
OFFICE BUILDING
Est. value
$12.0M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
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
1980
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
12.73 ac
Current owner
From public records · entity-resolved
Sl Projerct Texas LP
Entity
Free & Clear · 4 yrs held
Mailing address
100 CRES CT STE #850, DALLAS, TX 75201-6904
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2022
—
Sl Projerct Texas LP
Sl4 Hou Industrial LP
Special Warranty Deed
—
May 4, 2020
—
Sl4 Hou Industrial LP
—
Deed
related
—
Oct 12, 2018
—
Sl4 Hou Industrial LP
Centerpoint Houston Ucet LLC
Grant Deed
related
—
Sep 7, 2018
—
Centerpoint Houston Ucet LLC
Centerpoint Houston Nyl LLC
Quit Claim Deed
related
—
Jun 27, 2016
—
Centerpoint Houston Nyl LLC
—
Deed
related
$41,250,000 · Miscellaneous Ins Co
Apr 1, 2015
—
Centerpoint Houston Nyl LLC
An/wri Ptshp Ltd
Trustees Deed
$30,241,629 · Miscellaneous Ins Co
—
—
Centerpoint Houston Nyl LLC
—
Loan Modification
related
$41,250,000 · Miscellaneous Ins Co
—
—
Sl4 Hou Industrial LP
—
Deed Of Trust
related
—
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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