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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Bars & Pubs
554 Lockwood Dr Houston, TX 77011-2115
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US82-7048937
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
2021
Construction
STEEL FRAME
Total area
4,616 SF
Lot
1.84 ac (80,211 SF)
APN
1411350010001
UPID
US82-7048937
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
-
Bumpy Pickle Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$515k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$801k
Blend (final)
Blend
$660k
Owner & transaction history
Lockwood Center LLC
Lockwood Center LLC
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$745,000
+19.9%
Auto repair, garage
$700,000
+12.8%
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
$515,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$620,000
Current use
COMMERCIAL (GENERAL)
$745,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$700,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$660k
Range $594k – $726k · ±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
$143 / 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
$45,647
Tax year 2022
Assessed value
$2,303,594
Assessed 2024
Previous assessed
$2,265,569
+1.7% YoY
Effective rate
1.98%
On assessed value
Assessed land
$802,110
Assessed improvement
$1,501,484
Land market value
$802,110
Improvement market value
$1,501,484
Total market value
$2,303,594
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
2021
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Total area
4,616 SF
Lot
1.84 ac (80,211 SF)
APN
1411350010001
UPID
US82-7048937
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
RESTAURANT Current
Est. value
$620,000
COMMERCIAL (GENERAL)
Est. value
$745,000
AUTO REPAIR, GARAGE
Est. value
$700,000
RESTAURANT Current
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
2021
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Buildings
1
Lot
1.84 ac
Current owner
From public records · entity-resolved
Lockwood Center LLC
Entity
Mailing address
2955 GULF FWY, HOUSTON, TX 77003-5333
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Lockwood Center LLC
—
Loan Modification
related
$750,000 · Independent Bk
—
—
Lockwood Center LLC
—
Loan Modification
related
$750,000 · Independent Bk
—
—
Lockwood Center LLC
—
Loan Modification
related
$750,000 · Independent 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.
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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