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Property profile & analytics
OFF-MARKET
Estimated value
$720,000
Sports & entertainment properties
4704 Airline Dr Houston, TX 77022-3004
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US83-3165419
Property summary
AI-generated overview
This exceptional investment opportunity presents the fee-simple ownership of a 17,300 square foot Blink Fitness center in Houston, Texas. Located at 4704 Airline Dr, in Harris County, this property boasts a 20-year lease (commencing March 1, 2021, and expiring February 28, 2041), providing a remaining term of 16.3 years. The lease includes a corporate guarantee and features 13% rent bumps every five years, along with one and five-year lease options. The property sits on a 1.94-acre lot and was built in 1980, undergoing renovations in 2020. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $618,700, resulting in a 6.50% capitalization rate. The asking price is $9,518,000. This is a fee-simple ownership, not a ground lease. The property is classified as Special Purpose, Subtype Sports/Entertainment, and is a single-tenant building. This presents a strong, stable investment in a thriving Houston market.
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
1980
Construction
CONCRETE BLOCKS
Total area
17,544 SF
Lot
1.94 ac (84,550 SF)
APN
590150010002
UPID
US83-3165419
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
-
Pourhaghi Ali DDS Dental Office
-
Blink Fitness Northline Gym & Fitness Center
-
Blink Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$685k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$754k
Blend (final)
Blend
$720k
Owner & transaction history
Drive Partners LLC · 7 yrs held
Drive Partners LLC
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+47.9%
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
$685,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$755,000
Current use
MEDICAL BUILDING
$1,120,000
Change: +48% · Conversion: Difficult
Blend value · Realmo final
$720k
Range $648k – $792k · ±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
$41 / 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
$45,684
Tax year 2022
Assessed value
$2,584,000
Assessed 2024
Previous assessed
$2,267,404
+14.0% YoY
Effective rate
1.77%
On assessed value
Assessed land
$1,268,250
Assessed improvement
$1,315,750
Land market value
$1,268,250
Improvement market value
$1,315,750
Total market value
$2,584,000
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
1980
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
17,544 SF
Lot
1.94 ac (84,550 SF)
APN
590150010002
UPID
US83-3165419
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
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$755,000
MEDICAL BUILDING
Est. value
$1.1M
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
MEDICAL 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
1980
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
1.94 ac
Current owner
From public records · entity-resolved
Drive Partners LLC
Entity
Mailing address
362 5TH AVE FL, NEW YORK, NY 10001-2210
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2021
—
4704 Airline Drive Partners LLC
—
Deed
related
$4,160,000 · Hanmi Bank
Sep 6, 2019
—
4704 Airline Drive Partners LLC
—
Deed
related
$4,050,000 · Envoy Direct Mortgage Company LLC
May 31, 2019
—
Drive Partners LLC
Airline Drive Partners LP
Quit Claim Deed
related
—
Mar 18, 2008
—
Airline Drive Partners
Ron,avishai
Grant Deed
related
—
Jan 23, 2006
—
Ron Avishai
Kelly-moore Paint Co INC
Warranty Deed
related
—
Jul 1, 2004
—
Kelly-moore Paint Co INC
K-m Industries Holding Co INC
Grant Deed
related
—
—
—
4704 Airline Drive Ptrs LLC
—
Deed Of Trust
related
$4,050,000 · Envoy Direct Mtg Co 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.
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