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Property profile & analytics
OFF-MARKET
Estimated value
$3,490,000
Distribution centers
7702 Parnell St Houston, TX 77021-6009
Entity Owned
Free & Clear
Property ID
US82-4323964
Property summary
AI-generated overview
This exceptional 47,375-square-foot Class A industrial property, located at 7702 Parnell St, Houston, TX 77021, presents a unique investment opportunity. Situated in the Medical Center area, this single-tenant building boasts a prime location with easy access to South Loop 610 and Highway 288, offering convenient proximity to the Port of Houston, Hobby Airport, and Downtown Houston. Built in 1974 and renovated in 2005, the facility features a 20-foot ceiling height, five dock-high loading doors (two adaptable to grade level), and ample parking for 30 vehicles. The property sits on 4.18 acres and includes approximately 5,900 square feet of dedicated space previously used for sterile processing, complete with refrigerated rooms. This area can remain or be removed to suit tenant needs. The building is fully air-conditioned and sprinklered. Existing assets such as office furniture, substantial industrial shelving, and forklifts are negotiable. The property's zoning is unlisted, and its Harris County APN is 1020440000002. This versatile space is ideal for various distribution businesses, research and development, or cold storage operations. The property is currently 100% vacant.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1974
Construction
STEEL FRAME
Total area
47,375 SF
Lot
2.57 ac (111,775 SF)
APN
1020440000002
UPID
US82-4323964
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
-
Houston Methodist Distribution Center Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.49M
Blend (final)
Blend
$3.49M
Owner & transaction history
METHODIST HOSPITAL
METHODIST HOSPITAL
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.0M
+14.7%
Retail stores
$3.7M
+7.1%
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 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,490,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,005,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$3,740,000
Change: +7% · Conversion: Moderate
OFFICE BUILDING
$3,295,000
Change: -6% · Conversion: Difficult
MEDICAL BUILDING
$3,025,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$3.49M
Range $3.14M – $3.84M · ±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
$74 / 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
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1974
Construction
STEEL FRAME
Heating
RADIANT
Cooling
NONE
Buildings
1
Stories
2
Total area
47,375 SF
Lot
2.57 ac (111,775 SF)
APN
1020440000002
UPID
US82-4323964
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
$3.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.0M
RETAIL STORES
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$3.0M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
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
1974
Construction
STEEL FRAME
Heating
RADIANT
Cooling
Yes
Stories
2
Buildings
1
Lot
2.57 ac
Current owner
From public records · entity-resolved
METHODIST HOSPITAL
Individual
Free & Clear · 0 yrs held
Mailing address
7550 GREENBRIAR DRRB5-124, HOUSTON, TX 77030-4508
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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