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Property profile & analytics
OFF-MARKET
Estimated value
$2,000,000
Retail space
504 Gray St Houston, TX 77002
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-2336065
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2004
Construction
BRICK
Total area
16,854 SF
Lot
1.03 ac (44,727 SF)
APN
1246820010001
UPID
US82-2336065
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
-
Spectrum Center Service, Best Price Department Store
-
bseductive esthetics Hair Salon Nail Salon
-
The ProStylist - Keihla Samone Hair Salon
-
The Bella Experience Hair Salon
-
Nava de Massage Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.82M
Blend (final)
Blend
$2.00M
Owner & transaction history
Opal Arrow LLC · 9 yrs held
Opal Arrow LLC
since 2017
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+46.7%
Commercial (general)
$1.6M
+30.2%
Auto repair, garage
$1.6M
+30.0%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,210,000
Current use
RESTAURANT
$1,775,000
Change: +47% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,575,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,575,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$2.00M
Range $1.80M – $2.20M · ±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
$119 / 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
$87,261
Tax year 2020
Assessed value
$4,971,250
Assessed 2024
Previous assessed
$5,170,601
-3.9% YoY
Effective rate
1.76%
On assessed value
Assessed land
$3,354,525
Assessed improvement
$1,616,725
Land market value
$3,354,525
Improvement market value
$1,616,725
Total market value
$4,971,250
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2004
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
16,854 SF
Lot
1.03 ac (44,727 SF)
APN
1246820010001
UPID
US82-2336065
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
RETAIL STORES Current
Est. value
$1.2M
RESTAURANT
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2004
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
Opal Arrow LLC
Entity
Free & Clear · 9 yrs held
Mailing address
206 BIRDSALL ST, HOUSTON, TX 77007-8108
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2017
—
Opal Arrow LLC
Tulaposie LLC
Grant Deed
related
—
Mar 31, 2017
—
Tulaposie LLC
Crimson Javelina LLC
Grant Deed
related
—
Sep 1, 2016
—
Tulaposie LLC
Wray Betty J B
Warranty Deed
related
—
Apr 4, 2016
—
Tulaposie LLC
Keenan Ltd
Grant Deed
related
—
May 12, 2010
—
M & R Food Service INC
Pacific Jade Family LP
Grant Deed
$780,000 · Community Nat'l Bk/mason City
Apr 22, 2005
—
Pacific Jade Flp
Gwen,patrick
Warranty Deed
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.
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