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Property profile & analytics
FOR LEASE
Community centers
401 Franklin St Houston, TX 77201
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-2092641
For Lease
$9,555,000
401 Franklin St, Houston, TX 77201
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1962
Construction
STEEL & CONCRETE
Total area
768,251 SF
Lot
15.97 ac (695,601 SF)
APN
1450670010001
UPID
US82-2092641
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
-
Diverscity Clothing Co. Clothing Store
-
POST Houston Cultural Center Food Court
-
Tokyo Story (Bike/Boat/Book/etc) Store Arcade & Gaming Center
-
Redfin Real Estate Agency
-
Yoyos Hot Dog Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.56M
Owner & transaction history
Franidin Street Master Tenant LLC · 3 yrs held
Franidin Street Master Tenant LLC
since 2022
7 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
$12 / 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
$2,379,777
Tax year 2022
Assessed value
$94,923,978
Assessed 2024
Previous assessed
$118,114,153
-19.6% YoY
Effective rate
2.51%
On assessed value
Assessed land
$38,258,000
Assessed improvement
$56,665,978
Land market value
$38,258,000
Improvement market value
$56,665,978
Total market value
$94,923,978
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1962
Construction
STEEL & CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
5
Total area
768,251 SF
Lot
15.97 ac (695,601 SF)
APN
1450670010001
UPID
US82-2092641
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 & CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
5
Buildings
2
Lot
15.97 ac
Current owner
From public records · entity-resolved
Franidin Street Master Tenant LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2410 POLK ST STE #200, HOUSTON, TX 77003-4341
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
Nov 21, 2022
—
Franidin Street Master Tenant LLC
401 Franklin Street Ltd
Lease
—
Apr 18, 2019
—
401 Franklin Street Ltd
—
Loan Modification
related
$31,302,000 · Prosperity Bk
Apr 8, 2019
—
401 Franklin Street Ltd
—
Deed
related
$31,302,000 · Prosperity Bk
Jan 3, 2018
—
401 Franklin South Ltd
—
Deed
related
—
—
—
401 Franklin South Ltd
—
Loan Modification
related
—
—
—
401 Franklin Street Ltd
—
Loan Modification
related
$31,302,000 · Prosperity Bk
—
—
401 Franklin South Ltd
—
Loan Modification
related
—
—
—
401 Franklin Street Ltd
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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