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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Warehouses
707 Michigan St South Houston, TX 77587-3224
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US82-5290557
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1969
Construction
METAL FRAME
Total area
9,384 SF
Lot
0.57 ac (24,799 SF)
APN
340590150018
UPID
US82-5290557
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
-
Horizon Fluid Power Inc General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$664k
Blend (final)
Blend
$555k
Owner & transaction history
Cem Management LLC · 21 yrs held
Cem Management LLC
since 2004
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$860,000
+59.3%
Apartment house (5+ units)
$695,000
+29.2%
Medical building
$620,000
+14.7%
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 South Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South 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
$440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$540,000
Current use
RESTAURANT
$860,000
Change: +59% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$695,000
Change: +29% · Conversion: Difficult
MEDICAL BUILDING
$620,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$59 / 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
$14,443
Tax year 2023
Assessed value
$1,050,163
Assessed 2024
Previous assessed
$1,050,163
+0.0% YoY
Effective rate
1.38%
On assessed value
Assessed land
$297,600
Assessed improvement
$752,563
Land market value
$297,600
Improvement market value
$752,563
Total market value
$1,050,163
Applied tax rate
21.0000
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1969
Construction
METAL FRAME
Heating
NONE
Cooling
NONE
Buildings
3
Stories
1
Total area
9,384 SF
Lot
0.57 ac (24,799 SF)
APN
340590150018
UPID
US82-5290557
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
WAREHOUSE, STORAGE Current
Est. value
$540,000
RESTAURANT
Est. value
$860,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$695,000
MEDICAL BUILDING
Est. value
$620,000
WAREHOUSE, STORAGE Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1969
Construction
METAL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Lot
0.57 ac
Current owner
From public records · entity-resolved
Cem Management LLC
Entity
Mailing address
707 MICHIGAN ST, SOUTH HOUSTON, TX 77587-3224
Mailing matches property
Yes
Owner-occupied
Yes
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
Dec 27, 2004
—
Cem Management LLC
Johnson,leonard D
Warranty Deed
$290,400 · Wells Fargo Bank
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.
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