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Property profile & analytics
OFF-MARKET
Estimated value
$865,000
Commercial real estate
900 Gessner Rd, Houston, TX 77024
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-8609191
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1961
Construction
STEEL FRAME
Total area
13,935 SF
Lot
2.31 ac (100,811 SF)
APN
952550000009
UPID
US82-8609191
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
-
Body Jewelry (Bike/Boat/Book/etc) Store
-
Forever 21 Clothing Store Fashion Accessories Store
-
Gap Clothing Store Women'S Clothing Store
-
Sunglass Hut at Macy's (Bike/Boat/Book/etc) Store
-
Nuts World Specialty Food Shop Candy Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$865k
Owner & transaction history
Seritage Src Finance LLC · 6 yrs held
Seritage Src Finance LLC
since 2019
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+68.8%
Auto repair, garage
$1.3M
+55.9%
Medical building
$890,000
+6.6%
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
$550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$835,000
Current use
RESTAURANT
$1,410,000
Change: +69% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,300,000
Change: +56% · Conversion: Difficult
MEDICAL BUILDING
$890,000
Change: +7% · Conversion: Easy
WAREHOUSE, STORAGE
$680,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$865k
Range $779k – $952k · ±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
$62 / 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
$43,899
Tax year 2022
Assessed value
$4,162,400
Assessed 2024
Previous assessed
$4,163,900
0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$4,032,400
Assessed improvement
$130,000
Land market value
$4,032,400
Improvement market value
$130,000
Total market value
$4,162,400
Applied tax rate
25.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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 real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1961
Construction
STEEL FRAME
Heating
STEAM
Cooling
CENTRAL
Stories
1
Total area
13,935 SF
Lot
2.31 ac (100,811 SF)
APN
952550000009
UPID
US82-8609191
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
$835,000
RESTAURANT
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$890,000
WAREHOUSE, STORAGE
Est. value
$680,000
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1961
Construction
STEEL FRAME
Heating
STEAM
Cooling
Yes
Stories
1
Lot
2.31 ac
Current owner
From public records · entity-resolved
Seritage Src Finance LLC
Entity
Mailing address
945 BUNKER HL RD STE #400, HOUSTON, TX 77024-1363
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 27, 2019
—
Seritage Src Finance LLC
—
Grant Deed
related
$2,000,000,000 · Berkshire Hathaway Life Ins 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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