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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    615 Kernohan St, Unit 4 Crosby, TX 77532-6554

    • Apartment buildings
    • 3,451 SF
    • 0.38 lot acres
    OFF-MARKET
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    8.1%
    Apartment buildings
    Location Intelligence
    Property ID
    US83-2932539
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 615 Kernohan St

    Year built
    1930
    Construction
    WOOD FRAME
    Lot size
    0.38 lot acres
    Property size
    3,451 SF
    Property type
    Apartment buildings
    APN
    82120000015
    APU
    82120000015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $380,000
      6.5%
      $350,000
      7%
      $325,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $215,000
      Current use
      AUTO REPAIR, GARAGE
      $310,000
      Change: +47% Conversion: Difficult
      RETAIL STORES
      $270,000
      Change: +28% Conversion: Difficult
      WAREHOUSE, STORAGE
      $255,000
      Change: +19% Conversion: Difficult
      MEDICAL BUILDING
      $225,000
      Change: +7% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Crosby
    County
    Harris
    State
    Texas
    Longitude
    -95.0619
    Latitude
    29.911
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $931
    $82,500
    $159,768
    $242,268
    -
    $82,500
    $159,768
    $242,268

    Comparable in this City

    • Value Estimation
      $255,000
      1,170 SF

      114 Mckinney Ln, Unit 6

      APARTMENT HOUSE (5+ UNITS) • 1,170 SF
      114 Mckinney Ln, Crosby, TX 77532-6141
      View Details
    • Value Estimation
      $305,000
      2,945 SF

      109 Cypress Ave, Unit 4

      APARTMENT HOUSE (5+ UNITS) • 2,945 SF
      109 Cypress Ave, Crosby, TX 77532-2737
      View Details
    • Value Estimation
      $275,000
      2,448 SF

      118 Wahl St, Unit 4

      APARTMENT HOUSE (5+ UNITS) • 2,448 SF
      118 Wahl St, Crosby, TX 77532-6677
      View Details
    • Value Estimation
      $285,000
      2,720 SF

      105 Cypress Ave, Unit 4

      APARTMENT HOUSE (5+ UNITS) • 2,720 SF
      105 Cypress Ave, Crosby, TX 77532-2762
      View Details
    • Value Estimation
      $295,000
      7,040 SF

      700 Fm 1942nd Rd, Unit 17

      APARTMENT HOUSE (5+ UNITS) • 7,040 SF
      700 Fm 1942nd Rd, Crosby, TX 77532-6563
      View Details
    • Value Estimation
      $260,000
      2,240 SF

      6018 Miller Wilson Rd, Unit 5

      APARTMENT HOUSE (5+ UNITS) • 2,240 SF
      6018 Miller Wilson Rd, Crosby, TX 77532-6688
      View Details

    Similar Nearby for Sale

    • $95,000

      Condo with Golf Course View

      Two-bedroom condo with community amenities and investment potential.
      1500 S Diamondhead Blvd, Crosby, TX 77532
      View Details
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      High-Traffic Income Property For Sale

      Income property with multiple rental structures on a bustling intersection.
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    • $225,000

      Crosby Fourplex with Income Potential

      Four-unit multifamily property in Crosby, Texas, with renovation potential.
      118 Wahl St, Crosby, TX 77532
      View Details
    • $299,100

      Updated Fourplex in Historic Crosby

      Remodeled fourplex with new roof in high-demand Crosby location.
      615 Kernohan St, Crosby, TX 77532
      View Details
    • $3,250,000
      36.40 Acres

      Crosby, TX Industrial Land

      36 Acres, $3.25M, High Potential
      15119 Fm 2100 Rd, Crosby, TX 77532
      View Details
    • $1,750,000
      5.00 Acres

      Crosby, TX Mixed-Use Property

      5-Acre Estate: Office, Multifamily, Event Venue
      18302 Noyce Rd, Crosby, TX 77532
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      58,035 SF

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      Prime Retail Space Available Now
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      Crosby Retail Center Investment

      High-traffic retail center in Crosby, TX.
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    • Contact for pricing
      8,300 SF

      Shops at Newport: Crosby Retail Center

      Prime Crosby retail space, 8,300 SF available.
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    • Contact for pricing
      53,039 SF

      Crosby Retail Center - High Traffic

      Prime Crosby retail space, high visibility, Walmart proximity.
      14039 Fm 2100 Rd, Crosby, TX 77532
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    • Contact for pricing
      4,650 SF

      Crosby Retail Space - 4,650 SF

      Prime Crosby retail end cap, newly renovated.
      13923 Fm 2100 Rd, Crosby, TX 77532
      View Details
    • Contact for pricing
      4,650 SF

      Retail Space in Crosby, Texas

      Up to 4,650 SF end cap retail space available.
      13923-13923 Fm 2100 Rd, Crosby, TX 77532
      View Details
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    Crosby, TX 77532-6554
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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