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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Commercial land
804 Milam St Houston, TX 77002-5392
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-2785469
Property summary
AI-generated overview
This exceptional 5,100 square foot commercial land parcel presents a unique development opportunity in Houston's Central Business District. Situated in the heart of the city, this .12-acre lot boasts a highly desirable location, offering unparalleled access to major thoroughfares and public transportation. The property is ideally positioned adjacent to Two Shell Plaza and directly across the street from One Shell Plaza, Bank of America, and Pennzoil Plaza, ensuring high visibility and immediate proximity to established businesses and a thriving professional community. Its location near Rusk Street, Capitol Street, and the Main Street Metrorail station provides convenient access for employees and clients alike. The surrounding area offers a wealth of amenities, making this an attractive location for a variety of commercial developments. This prime piece of real estate is ready for immediate development, presenting a rare chance to capitalize on Houston's dynamic CBD market. The property is located at 804 Milam Street, Houston, Texas, 77002, in Harris County. Contact us for pricing and further details.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1965
Construction
WOOD FRAME
Total area
4,750 SF
Lot
0.12 ac (5,101 SF)
APN
10900000004
UPID
US82-2785469
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$729k
Blend (final)
Blend
$670k
Owner & transaction history
Majestic Nme LLC · 2 yrs held
Majestic Nme LLC
since 2024
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
COMMERCIAL (GENERAL)
$445,000
Current use
AUTO REPAIR, GARAGE
$445,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$141 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$25,689
Tax year 2022
Assessed value
$1,275,000
Assessed 2024
Previous assessed
$1,275,000
+0.0% YoY
Effective rate
2.01%
On assessed value
Assessed land
$1,275,000
Land market value
$1,275,000
Total market value
$1,275,000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1965
Construction
WOOD FRAME
Heating
STEAM
Cooling
CENTRAL
Stories
1
Total area
4,750 SF
Lot
0.12 ac (5,101 SF)
APN
10900000004
UPID
US82-2785469
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
COMMERCIAL (GENERAL) Current
Est. value
$445,000
AUTO REPAIR, GARAGE
Est. value
$445,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
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
1965
Construction
WOOD FRAME
Heating
STEAM
Cooling
Yes
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Majestic Nme LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1100 LOUISIANA ST STE #1000, HOUSTON, TX 77002-7499
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Jul 16, 2024
—
Majestic Nme LLC
804 Milam INC
Special Warranty Deed
—
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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