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Property profile & analytics
OFF-MARKET
Estimated value
$865,000
Warehouses
5615 Shepherd Dr Houston, TX 77091-4251
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-4843373
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD (JUNK, SALVAGE)
Year built
1960
Construction
METAL FRAME
Total area
9,240 SF
Lot
10 ac (435,413 SF)
APN
222460230001
UPID
US82-4843373
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
-
North Shepherd Auto Parts Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$630k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$865k
Owner & transaction history
5617 N Shepherd LLC · 21 yrs held
5617 N Shepherd LLC
since 2004
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+60.4%
Auto repair, garage
$985,000
+41.0%
Retail stores
$985,000
+40.9%
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
$630,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
STORAGE YARD, OPEN STORAGE (LIGHT EQUIPMENT, MATERIAL)
$700,000
Current use
RESTAURANT
$1,125,000
Change: +60% · Conversion: Difficult
AUTO REPAIR, GARAGE
$985,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$985,000
Change: +41% · Conversion: Difficult
OFFICE BUILDING
$645,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$590,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$865k
Range $779k – $952k · ±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
$94 / 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
$80,870
Tax year 2023
Assessed value
$4,026,009
Assessed 2024
Previous assessed
$4,026,009
+0.0% YoY
Effective rate
2.01%
On assessed value
Assessed land
$3,701,010
Assessed improvement
$324,999
Land market value
$3,701,010
Improvement market value
$324,999
Total market value
$4,026,009
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
Warehouses
Use group
STORAGE YARD (JUNK, SALVAGE)
Status
Off-Market
Year built
1960
Construction
METAL FRAME
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Total area
9,240 SF
Lot
10 ac (435,413 SF)
APN
222460230001
UPID
US82-4843373
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
STORAGE YARD, OPEN STORAGE (LIGHT EQUIPMENT, MATERIAL) Current
Est. value
$700,000
RESTAURANT
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$985,000
RETAIL STORES
Est. value
$985,000
OFFICE BUILDING
Est. value
$645,000
MEDICAL BUILDING
Est. value
$590,000
STORAGE YARD, OPEN STORAGE (LIGHT EQUIPMENT, MATERIAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
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
1960
Construction
METAL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
10 ac
Current owner
From public records · entity-resolved
5617 N Shepherd LLC
Entity
Free & Clear · 21 yrs held
Mailing address
11558 MEMORIAL DR, HOUSTON, TX 77024-7333
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 11, 2004
—
5617 N Shepherd LLC
Karimi,khalil
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.
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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