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Property profile & analytics
OFF-MARKET
Estimated value
$1,455,000
Garden apartment buildings
555 Spg Park Ctr Blvd 240 Spring, TX 77373-8193
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-4746737
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1998
Construction
FRAME
Total area
21,653 SF
Lot
10.03 ac (436,907 SF)
APN
1197120000001
UPID
US82-4746737
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
-
Jackson autobody Auto Repair Shop
-
Fabulous Boutique Clothing Store
-
Ambit Energy Independent Consultant Electric Utility Company
-
Spring Park Apartment Complex
-
Pic2House Photography Service (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$1.46M
Owner & transaction history
Spring Multifamily Hldgs Ltd · 6 yrs held
Spring Multifamily Hldgs Ltd
since 2019
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.8M
+81.4%
Restaurant
$1.7M
+73.0%
Warehouse, storage
$1.3M
+31.1%
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 Spring submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring 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
APARTMENT HOUSE (5+ UNITS)
$990,000
Current use
RETAIL STORES
$1,795,000
Change: +81% · Conversion: Difficult
RESTAURANT
$1,710,000
Change: +73% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,295,000
Change: +31% · Conversion: Difficult
MEDICAL BUILDING
$1,260,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$1.46M
Range $1.31M – $1.60M · ±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
$67 / 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
$259,831
Tax year 2022
Assessed value
$27,836,725
Assessed 2024
Previous assessed
$34,059,946
-18.3% YoY
Effective rate
0.93%
On assessed value
Assessed land
$4,369,070
Assessed improvement
$23,467,655
Land market value
$4,369,070
Improvement market value
$23,467,655
Total market value
$27,836,725
Applied tax rate
24.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1998
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
12
Stories
3
Rooms
1
Bathrooms
1
Total area
21,653 SF
Lot
10.03 ac (436,907 SF)
APN
1197120000001
UPID
US82-4746737
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$990,000
RETAIL STORES
Est. value
$1.8M
RESTAURANT
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
RESTAURANT
WAREHOUSE, STORAGE
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
1998
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
12
Rooms
1
Bathrooms
1
Lot
10.03 ac
Current owner
From public records · entity-resolved
Spring Multifamily Hldgs Ltd
Individual
Mailing address
1520-1185 GEORGIA VANCOUVER ST W XX
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2019
—
Spring Multifamily Hldgs Ltd
—
Deed
related
$17,100,000 · Miscellaneous Ins Co
—
—
Spring Multifamily Hldgs Ltd
—
Deed Of Trust
related
$17,100,000 · Miscellaneous Ins Co
—
—
Spring Holdings Ltd
—
Deed Of Trust
related
$10,250,000 · Db Berkshire Mortgage INC
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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