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Property profile & analytics
OFF-MARKET
Estimated value
$2,090,000
Retail space
9803 Hwy 242 Conroe, TX 77385-4368
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US83-2326063
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2016
Total area
16,644 SF
Lot
1.73 ac (75,315 SF)
APN
0583-00-01428
UPID
US83-2326063
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
$2.16M
Blend (final)
Blend
$2.09M
Owner & transaction history
Bk 8227 Ltd · 6 yrs held
Bk 8227 Ltd
since 2020
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+57.6%
Apartment house (5+ units)
$1.5M
+20.1%
Auto repair, garage
$1.5M
+18.2%
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 Conroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conroe 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
RETAIL STORES
$1,255,000
Current use
RESTAURANT
$1,980,000
Change: +58% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,510,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,485,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$2.09M
Range $1.88M – $2.30M · ±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
$126 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$88,880
Tax year 2024
Assessed value
$4,422,303
Assessed 2024
Previous assessed
$4,000,000
+10.6% YoY
Effective rate
2.01%
On assessed value
Assessed land
$1,204,835
Assessed improvement
$3,217,468
Land market value
$1,204,835
Improvement market value
$3,217,468
Total market value
$4,422,303
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2016
Heating
FORCED AIR
Cooling
CENTRAL
Total area
16,644 SF
Lot
1.73 ac (75,315 SF)
APN
0583-00-01428
UPID
US83-2326063
Jurisdiction
MONTGOMERY
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
RETAIL STORES Current
Est. value
$1.3M
RESTAURANT
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.5M
RETAIL STORES Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
2016
Heating
FORCED AIR
Cooling
Yes
Lot
1.73 ac
Current owner
From public records · entity-resolved
Bk 8227 Ltd
Individual
Mailing address
8505 TECHNOLOGY FRST PL STE #1101, SPRING, TX 77381-1186
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2020
—
Bk 8227 Ltd
—
Deed
related
$3,823,156 · Spirit Of Tx Bk Ssb
—
—
Bk 8227 Ltd
—
Loan Modification
related
$3,823,156 · Spirit Of Tx Bk Ssb
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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