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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Warehouses
4402 Rex Rd, Friendswood, TX 77546-2529
Entity Owned
~
Est. High Equity
Property ID
US82-3354384
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2005
Construction
METAL FRAME
Total area
9,800 SF
Lot
4.77 ac (207,781 SF)
APN
1272140010001
UPID
US82-3354384
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
-
Millennium Plus Inc Electrical Service General Contractor
-
Controlled Khaos Customs Auto Repair Shop
-
Texas TKO BOXING Acadmey Gym & Fitness Center
-
BeastMode Athletic Union Gym & Fitness Center
-
Lockridge Packaging Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$586k
Blend (final)
Blend
$590k
Owner & transaction history
Lockridge Packaging LLC
Lockridge Packaging LLC
since 2026
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$955,000
+122.7%
Auto repair, garage
$885,000
+106.4%
Commercial (general)
$875,000
+103.2%
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 Friendswood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Friendswood 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
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$430,000
Current use
RESTAURANT
$955,000
Change: +123% · Conversion: Difficult
AUTO REPAIR, GARAGE
$885,000
Change: +106% · Conversion: Easy
COMMERCIAL (GENERAL)
$875,000
Change: +103% · Conversion: Difficult
MEDICAL BUILDING
$645,000
Change: +50% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$605,000
Change: +41% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$60 / 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
$20,179
Tax year 2023
Assessed value
$3,898,264
Assessed 2024
Previous assessed
$3,898,264
+0.0% YoY
Effective rate
0.52%
On assessed value
Assessed land
$595,984
Assessed improvement
$3,302,280
Land market value
$595,984
Improvement market value
$3,302,280
Total market value
$3,898,264
Applied tax rate
27.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2005
Construction
METAL FRAME
Heating
NONE
Cooling
NONE
Buildings
6
Stories
1
Total area
9,800 SF
Lot
4.77 ac (207,781 SF)
APN
1272140010001
UPID
US82-3354384
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
$430,000
RESTAURANT
Est. value
$955,000
AUTO REPAIR, GARAGE
Est. value
$885,000
COMMERCIAL (GENERAL)
Est. value
$875,000
MEDICAL BUILDING
Est. value
$645,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$605,000
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
2005
Construction
METAL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
6
Lot
4.77 ac
Current owner
From public records · entity-resolved
Lockridge Packaging LLC
Entity
Mailing address
PO BOX 2256, FRIENDSWOOD, TX 77549-2256
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2026
—
Lockridge Packaging LLC
—
Deed
related
$1,527,000 · Bank Of America NA
Jan 10, 2018
—
Ronald G Lockridge
—
Deed
related
$674,847 · Texan Bk
Nov 6, 2017
—
Ronald G Lockridge
—
Deed
related
$560,000 · Texan Bk
Mar 17, 2010
—
Ronald G Lockridge
—
Trustees Deed
related
$200,000 · Capital Bank NA
—
—
Lockridge Packaging LLC
—
Loan Modification
related
$200,000 · Texan Bk
—
—
Lockridge Packaging LLC
—
Loan Modification
related
$200,000 · Texan Bk
—
—
Lockridge Packaging LLC
—
Deed Of Trust
related
$200,000 · Texan Bank
—
—
Ronald G Lockridge
—
Deed Of Trust
related
$450,000 · Capital Bank NA
—
—
Ronald G Lockridge
—
Deed Of Trust
related
$450,000 · Capital Bank NA
—
—
Ronald G Lockridge
—
Loan Modification
related
$803,637 · Texan Bk
—
—
Ronald G Lockridge
—
Loan Modification
related
$674,847 · Texan Bk
—
—
Ronald G Lockridge
—
Deed Of Trust
related
$560,000 · Texan Bk
—
—
Ronald G Lockridge
—
Deed Of Trust
related
$930,000 · Texan Bank
—
—
Ronald G Lockridge
—
Deed Of Trust
related
$200,000 · Texan Bank
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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