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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Strip malls
4240 Hwy 6th N Houston, TX 77084-3471
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US82-3781589
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2002
Construction
CONCRETE BLOCKS
Total area
13,781 SF
Lot
1.07 ac (46,653 SF)
APN
1157040010006
UPID
US82-3781589
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
$585k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$465k
Blend (final)
Blend
$525k
Owner & transaction history
Texas Transportation Comn · 7 yrs held
Texas Transportation Comn
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$640,000
+79.7%
Warehouse, storage
$515,000
+44.8%
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
$585,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$355,000
Current use
RETAIL STORES
$640,000
Change: +80% · Conversion: Easy
WAREHOUSE, STORAGE
$515,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$38 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$41,050
Tax year 2020
Assessed value
$2,676,904
Assessed 2024
Previous assessed
$2,524,151
+6.1% YoY
Effective rate
1.53%
On assessed value
Assessed land
$699,795
Assessed improvement
$1,977,109
Land market value
$699,795
Improvement market value
$1,977,109
Total market value
$2,676,904
Applied tax rate
19.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2002
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
13,781 SF
Lot
1.07 ac (46,653 SF)
APN
1157040010006
UPID
US82-3781589
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$355,000
RETAIL STORES
Est. value
$640,000
WAREHOUSE, STORAGE
Est. value
$515,000
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
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
2002
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
1.07 ac
Current owner
From public records · entity-resolved
Texas Transportation Comn
Individual
Mailing address
PO BOX 421952, HOUSTON, TX 77242-1952
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2019
—
Texas Transportation Comn
4240 Highway 6 Property LLC
Grant Deed
related
—
May 15, 2001
—
George M Lee Trustee
First State Investors 7 LP
Grant Deed
related
—
—
—
4240 Highway 6 Property LLC
—
Deed Of Trust
related
$1,330,000 · East West Bk
—
—
4240 Highway 6 Property LLC
—
Deed Of Trust
related
$1,298,898 · Wells Fargo Bk
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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