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Property profile & analytics
OFF-MARKET
Estimated value
$5,755,000
Distribution centers
51 Esplanade Blvd Houston, TX 77060-3718
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-9165710
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2007
Construction
STEEL FRAME
Total area
131,182 SF
Lot
5.1 ac (221,982 SF)
APN
1155630000013
UPID
US82-9165710
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
-
Coastal HVAC Supply Hardware & Home Improvement Home Appliance Store
-
Merla Flow Control Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.75M
Blend (final)
Blend
$5.76M
Owner & transaction history
1pm Houston Industrial Investors Ll · 4 yrs held
1pm Houston Industrial Investors Ll
since 2022
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.4M
+38.6%
Retail stores
$7.0M
+16.2%
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 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
WAREHOUSE, STORAGE
$6,040,000
Current use
MEDICAL BUILDING
$8,370,000
Change: +39% · Conversion: Difficult
RETAIL STORES
$7,015,000
Change: +16% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$5,055,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$5.76M
Range $5.18M – $6.33M · ±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
$44 / 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
$126,452
Tax year 2023
Assessed value
$11,777,000
Assessed 2024
Previous assessed
$11,777,000
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$887,928
Assessed improvement
$10,889,072
Land market value
$887,928
Improvement market value
$10,889,072
Total market value
$11,777,000
Applied tax rate
9.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2007
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
1
Total area
131,182 SF
Lot
5.1 ac (221,982 SF)
APN
1155630000013
UPID
US82-9165710
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
$6.0M
MEDICAL BUILDING
Est. value
$8.4M
RETAIL STORES
Est. value
$7.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.1M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
RETAIL STORES
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
2007
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Buildings
1
Lot
5.1 ac
Current owner
From public records · entity-resolved
1pm Houston Industrial Investors Ll
Individual
Mailing address
ELLIS PRESERVE, NEWTOWN SQUARE, PA 19073
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
May 19, 2022
—
1pm Houston Industrial Investors Ll
—
Deed
related
$102,637,500 · Tiaa Fsb Holdings INC
May 16, 2022
—
1pm Houston Industrial Investors Ll
—
Deed
related
$102,637,500 · Tiaa Fsb Holdings INC
Mar 21, 2017
—
Greenspoint B LLC
—
Deed
related
$375,000,000 · Miscellaneous Ins Co
—
—
Greenspoint B LLC
—
Deed Of Trust
related
$375,000,000 · Miscellaneous Ins Co
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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