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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Garden apartment buildings
8501 Broadway St Houston, TX 77061-2267
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-0839169
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1975
Construction
BRICK
Total area
11,928 SF
Lot
8.92 ac (388,651 SF)
APN
402390000078
UPID
US82-0839169
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
-
The Plaza of Hobby Airport Apartment Complex
-
Russell's Inc Take-out & Catering Catering Service
-
Plaza At Hobby Airport Apartment Complex
-
HOT YELLA RED Theater & Performing Art Venue Nightclub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$973k
Blend (final)
Blend
$1.06M
Owner & transaction history
Fc Tzadik Property Owner LP · 6 yrs held
Fc Tzadik Property Owner LP
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.6M
+161.9%
Auto repair, garage
$1.3M
+112.1%
Restaurant
$1.2M
+96.6%
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)
$1,605,000
Change: +162% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,300,000
Change: +112% · Conversion: Difficult
RESTAURANT
$1,205,000
Change: +97% · Conversion: Difficult
OFFICE BUILDING
$830,000
Change: +35% · Conversion: Moderate
MEDICAL BUILDING
$760,000
Change: +24% · Conversion: Moderate
RETAIL STORES
$755,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±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
$89 / 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
$378,744
Tax year 2022
Assessed value
$14,202,535
Assessed 2024
Previous assessed
$18,797,973
-24.4% YoY
Effective rate
2.67%
On assessed value
Assessed land
$1,943,255
Assessed improvement
$12,259,280
Land market value
$1,943,255
Improvement market value
$12,259,280
Total market value
$14,202,535
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
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1975
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
25
Stories
3
Rooms
3
Bathrooms
1
Total area
11,928 SF
Lot
8.92 ac (388,651 SF)
APN
402390000078
UPID
US82-0839169
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)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
OFFICE BUILDING
Est. value
$830,000
MEDICAL BUILDING
Est. value
$760,000
RETAIL STORES
Est. value
$755,000
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
1975
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
25
Rooms
3
Bathrooms
1
Lot
8.92 ac
Current owner
From public records · entity-resolved
Fc Tzadik Property Owner LP
Entity
Mailing address
575 MADISON AVE FL, NEW YORK, NY 10022-2511
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 18, 2019
—
Fc Tzadik Property Owner LP
Ghc Property LLC
Trustees Deed
$68,800,000 · Greystone Svcng Corp
Dec 19, 2013
$5,705,500
Ghc Property LLC
Lb Crescent City LP
Special Warranty Deed
—
—
—
Ghc Property LLC
—
Deed Of Trust
related
$9,375,000 · Cathay Bk
—
—
Intercapital Hobby Place I LP
—
Deed Of Trust
related
$4,700,000 · L J Melody & Co
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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