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Property profile & analytics
OFF-MARKET
Estimated value
$1,065,000
Warehouses
403 Corporate Wood Dr Magnolia, TX 77354-7357
Entity Owned
9-yr Hold
Free & Clear
Property ID
US83-2402790
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2007
Total area
12,590 SF
Lot
3 ac (130,680 SF)
Zoning code
2
APN
8879-00-00900
UPID
US83-2402790
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
-
Lone Star Thermal Insulation General Contractor Renovation Specialist
-
LifeTime Insurance Insurance Agency
-
Fortis Integro Association Or Organization
-
New Generation Electric Electrical Service General Contractor
-
Trexxler Energy Solutions Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.20M
Comparable Approach
Comparable
$936k
Blend (final)
Blend
$1.07M
Owner & transaction history
Fortis Biopharma Holding LLC · 9 yrs held
Fortis Biopharma Holding LLC
since 2016
1 recorded transaction
Zoning & alternative use
2 · Magnolia, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.5M
+17.1%
Restaurant
$1.5M
+13.6%
Auto repair, garage
$1.3M
+2.2%
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 Magnolia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Magnolia 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%
$1,295,000
6.5%
$1,195,000
7%
$1,110,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,275,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,495,000
Change: +17% · Conversion: Difficult
RESTAURANT
$1,450,000
Change: +14% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,305,000
Change: +2% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,090,000
Change: -14% · Conversion: Difficult
OFFICE BUILDING
$1,055,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.07M
Range $959k – $1.17M · ±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
$85 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$18,306
Tax year 2024
Assessed value
$1,134,368
Assessed 2024
Previous assessed
$1,159,530
-2.2% YoY
Effective rate
1.61%
On assessed value
Assessed land
$341,805
Assessed improvement
$792,563
Land market value
$341,805
Improvement market value
$792,563
Total market value
$1,134,368
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
2007
Heating
NONE
Cooling
NONE
Total area
12,590 SF
Lot
3 ac (130,680 SF)
Zoning code
2
APN
8879-00-00900
UPID
US83-2402790
Jurisdiction
MONTGOMERY
Zoning & alternative use
2 · Magnolia, TX
Zoning 2 · permitted uses
2 · Magnolia, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Magnolia. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
RESTAURANT
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2007
Heating
NONE
Cooling
Yes
Lot
3 ac
Current owner
From public records · entity-resolved
Fortis Biopharma Holding LLC
Entity
Free & Clear · 9 yrs held
Mailing address
6606 FM 1488TH RD, MAGNOLIA, TX 77354-2544
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2016
—
Fortis Biopharma Holding LLC
Montgomery Resources Partners
Warranty Deed
—
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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