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Property profile & analytics
OFF-MARKET
Estimated value
$1,970,000
Drug stores
3822 Old Spanish Trl Houston, TX 77021-1340
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US82-1727209
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2007
Construction
STEEL & CONCRETE
Total area
16,231 SF
Lot
1.45 ac (63,267 SF)
APN
1295620010001
UPID
US82-1727209
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Coinhub Bitcoin ATM Teller Atm
-
LibertyX Bitcoin ATM Atm
-
Walgreens Pharmacy
-
Walgreens Pharmacy Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.96M
Blend (final)
Blend
$1.97M
Owner & transaction history
Nnn Houston Tx Owner LP · 8 yrs held
Nnn Houston Tx Owner LP
since 2018
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.4M
+86.6%
Restaurant
$2.2M
+72.8%
Auto repair, garage
$2.2M
+71.1%
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
RETAIL STORES
$1,280,000
Current use
COMMERCIAL (GENERAL)
$2,395,000
Change: +87% · Conversion: Easy
RESTAURANT
$2,215,000
Change: +73% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,195,000
Change: +71% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,375,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,195,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.97M
Range $1.77M – $2.17M · ±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
$121 / 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
$69,899
Tax year 2022
Assessed value
$3,764,840
Assessed 2024
Previous assessed
$3,469,279
+8.5% YoY
Effective rate
1.86%
On assessed value
Assessed land
$1,898,010
Assessed improvement
$1,866,830
Land market value
$1,898,010
Improvement market value
$1,866,830
Total market value
$3,764,840
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2007
Construction
STEEL & CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Total area
16,231 SF
Lot
1.45 ac (63,267 SF)
APN
1295620010001
UPID
US82-1727209
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
RETAIL STORES Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$2.4M
RESTAURANT
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.2M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
2007
Construction
STEEL & CONCRETE
Heating
FORCED AIR
Cooling
Yes
Buildings
1
Lot
1.45 ac
Current owner
From public records · entity-resolved
Nnn Houston Tx Owner LP
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2018
—
Nnn Houston Tx Owner LP
Wg Houston Portfolio LP
Grant Deed
$186,576,615 · Miscellaneous Ins Co
Oct 1, 2010
—
Wg Houston Portfolio LP
Kimber 45 LLC
Grant Deed
related
—
—
—
Kimber 45 LLC
—
Deed Of Trust
related
$6,075,000 · Ctl Lending Group LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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