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Property profile & analytics
OFF-MARKET
Estimated value
$10,330,000
Garden apartment buildings
8700 Starr Rnch Boerne, TX 78015-5014
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US82-5560952
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2011
Total area
133,440 SF
Lot
26.41 ac (1,150,420 SF)
APN
04709-992-0010
UPID
US82-5560952
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
$10.90M
Blend (final)
Blend
$10.33M
Owner & transaction history
Breit Steadfast Mf Fairmarc Tx · 8 yrs held
Breit Steadfast Mf Fairmarc Tx
since 2018
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$15.5M
+81.7%
Retail stores
$15.1M
+76.9%
Medical building
$11.2M
+31.3%
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 Boerne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boerne 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
APARTMENT HOUSE (5+ UNITS)
$8,540,000
Current use
AUTO REPAIR, GARAGE
$15,515,000
Change: +82% · Conversion: Difficult
RETAIL STORES
$15,110,000
Change: +77% · Conversion: Difficult
MEDICAL BUILDING
$11,210,000
Change: +31% · Conversion: Moderate
WAREHOUSE, STORAGE
$7,960,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$10.33M
Range $9.30M – $11.36M · ±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
$77 / 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
$365,905
Tax year 2023
Assessed value
$46,000,000
Assessed 2023
Previous assessed
$46,000,000
+0.0% YoY
Effective rate
0.80%
On assessed value
Assessed land
$4,188,080
Assessed improvement
$41,811,920
Land market value
$4,188,080
Improvement market value
$41,811,920
Total market value
$46,000,000
Applied tax rate
6.0000
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
2011
Heating
CENTRAL
Cooling
YES
Buildings
6
Stories
1
Total area
133,440 SF
Lot
26.41 ac (1,150,420 SF)
APN
04709-992-0010
UPID
US82-5560952
Jurisdiction
BEXAR
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$8.5M
AUTO REPAIR, GARAGE
Est. value
$15.5M
RETAIL STORES
Est. value
$15.1M
MEDICAL BUILDING
Est. value
$11.2M
WAREHOUSE, STORAGE
Est. value
$8.0M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
2011
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
6
Lot
26.41 ac
Current owner
From public records · entity-resolved
Breit Steadfast Mf Fairmarc Tx
Individual
Mailing address
PO BOX A3878, CHICAGO, IL 60690-3878
Ownership since
2018
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
Feb 1, 2018
—
Breit Steadfast Mf Fairmarc Tx
Sir Fairmarc LLC
Trustees Deed
$24,767,000 · Us Bank NA #2013-k31 (ce)
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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