Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    681 Grns Pkwy Houston, TX 77067-4533

    • Office buildings
    • 66,920 SF
    • 4.85 lot acres
    OFF-MARKET
    Last Sale
    Jan 10, 2025
    Value Estimations
    $3,155,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9161481
    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

    • Office buildings

    Property Details for 681 Grns Pkwy

    Year built
    2014
    Construction
    STEEL FRAME
    Lot size
    4.85 lot acres
    Property size
    66,920 SF
    Property type
    Office buildings
    APN
    1340570010003
    APU
    1340570010003

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,655,000
      Current use
      MEDICAL BUILDING
      $4,270,000
      Change: -8% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $4,185,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4226
    Latitude
    29.9439
    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
    2022
    $178,223
    $1,689,992
    $12,774,736
    $14,464,728
    -
    $1,689,992
    $12,774,736
    $14,464,728

    Comparable in this City

    • Value Estimation
      $1,680,000
      73,494 SF

      550 Grns Pkwy

      OFFICE BUILDING • 73,494 SF
      550 Grns Pkwy, Houston, TX 77067-4537
      View Details
    • Value Estimation
      $2,310,000
      195,957 SF

      396 Grns Rd, Unit 608

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 195,957 SF
      396 Grns Rd, Houston, TX 77067-4502
      View Details
    • Value Estimation
      $2,115,000
      158,666 SF

      450 Gears Rd, Unit 261

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 158,666 SF
      450 Gears Rd, Houston, TX 77067-4529
      View Details
    • Value Estimation
      $1,505,000
      119,322 SF

      12700 Northborough Dr, Unit 405

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 119,322 SF
      12700 Northborough Dr, Houston, TX 77067-2552
      View Details
    • Value Estimation
      $2,475,000
      79,200 SF

      810 Gears Rd

      OFFICE BUILDING • 79,200 SF
      810 Gears Rd, Houston, TX 77067-4416
      View Details
    • Value Estimation
      $1,835,000
      26,400 SF

      330 Meadowfern Dr

      OFFICE BUILDING • 26,400 SF
      330 Meadowfern Dr, Houston, TX 77067-3227
      View Details

    Similar Nearby for Sale

    • $2,000,000
      16,800 SF

      North Houston Multi-Use Facility

      Two-story, 16,800 SF medical or specialty facility for sale.
      12414 Dawn Rd, Houston, TX 77067
      View Details
    • $4,605,115
      23.49 Acres

      Houston Commercial Land - 23 Acres

      Prime Houston land, ideal for development. Excellent location.
      000 Ella Blvd, Houston, TX 77067
      View Details
    • $8,546,450
      56.06 Acres

      Houston Commercial Land - 56 Acres

      Prime Houston acreage, exceptional development potential.
      56.06 AC Ella Blvd & Rushcreek Dr, Houston, TX 77067
      View Details
    • $700,000
      4.80 Acres

      Houston Commercial Land - 4.8 Acres

      Prime Houston land, unrestricted use.
      0 Hugh Rd, Houston, TX 77067
      View Details
    • Contact for pricing

      Prime Land for Development

      2 acres of land, ideal for retail or commercial development.
      Kuykendahl Rd, Houston, TX 77067
      View Details
    • $1,100,000

      Land Available in Houston, TX

      Land for sale at 11921 Veterans Memorial Dr, Houston, TX.
      11921 Veterans Memorial Dr, Houston, TX 77067
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      164,836 SF

      Office Tower with Freeway Signage

      Office building with high visibility, modern amenities, and convenient location.
      100 Glenborough Dr, Houston, TX 77067
      View Details
    • $16 SF/Yr
      206,553 SF

      Prime Houston Office Space

      14-Story Office Building, Abundant Parking
      100 Glenborough Dr, Houston, TX 77067
      View Details
    • $11 SF/Yr
      107,213 SF

      11233 Crown Park Dr

      Flex space • 107,213 SF
      11233 Crown Park Dr, Houston, TX 77067
      View Details
    • Contact for pricing
      598,950 SF

      Houston Commercial Land - 13.75 Acres

      Prime Houston acreage: Lease or buy.
      0 Spears Rd, Houston, TX 77067
      View Details
    • Contact for pricing
      6,500 SF

      Prime Retail Space, Move-In Ready

      Spacious retail shell, ample parking, 2023 renovation.
      430 Greens Rd, Houston, TX 77067
      View Details
    • Contact for pricing
      157,814 SF

      Greens Parkway Office Space Available

      Office space with immediate access to I-45 and Beltway 8.
      850 Greens Pkwy, Houston, TX 77067
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    681 Grns Pkwy
    Houston, TX 77067-4533
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.