Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    602 Fairmont Pkwy Pasadena, TX 77504

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $870,639

    Commercial zoned property off Fairmont Parkway Frontage in Pasadena, TX.

    Property size:
    124,146 SF
    Lot size:
    1.45 Acres

    Property Features for 602 Fairmont Pkwy

    General Information

    Size
    124,146 SF
    Lot size
    1.45 Acres

    We can help!

    Listing Contact
    Jeffrey George
    Source: Moodyscre

    Listing Agent: Jeffrey George

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Commercial Land on Fairmont Parkway

    Located in Pasadena, this commercial land benefits from the city's diverse industrial base, which includes petrochemical, manufacturing, healthcare, and aerospace sectors. This diversity presents various opportunities for commercial enterprises. The use of land, including commercial lots, is subject to zoning and land use regulations set by the city government, defining how the land can be used and the types of businesses that can operate. Commercial development in Pasadena contributes to the city's economy by creating jobs, generating tax revenue, and supporting the local community. The property is 124146 square feet and is located off of Fairmont Parkway Frontage.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kool Kids Daycare Day Care Center Exxon Gas Station Chevron Gas Station TAQUERIA TOVAR Taco Restaurant Amazon Hub Counter ... Mailing Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.2040193
    Latitude
    29.6504495

    Nearby Similar for Sale

    • $951,252
      2,030 SF

      Retail/Office and Warehouse Space

      Retail building with warehouse on 5.04 acres in Pasadena.
      8050 Red Bluff Rd, Pasadena, TX 77507
      View Details
    • $895,000
      7,930 SF

      Pasadena Commercial Building For Sale

      7,930 SF commercial building in a developed Pasadena community.
      619 Jackson Ave, Pasadena, TX 77506
      View Details
    • $1,500,000
      37,233 SF

      Pasadena Office Building For Sale

      Four-story office building in Pasadena, Texas, with value-add potential.
      817 Southmore Ave, Pasadena, TX 77502
      View Details
    • $440,000
      1,325 SF

      Pasadena Commercial Property with Expansion Potential

      Versatile property with excellent visibility and room for growth.
      922 Main St, Pasadena, TX 77506
      View Details
    • $1,200,000

      Pasadena Retail Center For Sale

      Prime corner retail center in established Pasadena neighborhood.
      2037 Richey St, Pasadena, TX 77502
      View Details
    • $2,500,000

      Mixed-Use Property with Commercial Kitchen

      Multifaceted property featuring apartments, townhomes, commercial kitchen, and more.
      4309 Young St, Pasadena, TX 77504
      View Details
    • $239,000

      Waterfront Condo with Updated Features

      Updated 2-bedroom, 2-bath waterfront condo with balcony, pool, clubhouse.
      4747 Nasa Pkwy, Pasadena, TX 77586
      View Details
    • $85,000

      Charming Townhome in Prime Location

      Ideal starter home or investment opportunity near shopping and restaurants.
      3348 Burke Rd, Pasadena, TX 77504
      View Details
    • $299,900

      Updated Duplex with New Amenities

      Updated duplex featuring new windows, plumbing, and central air.
      3514 Mattye Maye Dr, Pasadena, TX 77503
      View Details
    • $1,360,000

      Renovated Multifamily Asset Near Houston

      17-unit renovated multifamily property, excellent location, immediate growth potential.
      4831 Sycamore Ave, Pasadena, TX 77503
      View Details
    • $2,900,000
      20,250 SF

      Multi-Purpose Facility on High Traffic

      20,250 SF facility on 2.2 acres, ideal for redevelopment.
      7770 Spencer Hwy, Pasadena, TX 77505
      View Details
    • $1,300,000

      Versatile Property with Multiple Opportunities

      Multi-tenant property with auditorium, apartments, kitchen, store, and pool.
      4309B Young St, Pasadena, TX 77504
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial zoned property off Fairmont Parkway Frontage in Pasadena, TX.
    Where is this commercial land located?
    The property is located at 602 Fairmont Pkwy Pasadena, TX.
    What is the asking price?
    The asking price for this property is $870,639.
    What are key features of this property?
    This property features: - Commercial zoned property.; - Located in Pasadena.; - Situated off Fairmont Parkway.
    (281) 335-0335
    Request Owner's contact information
    602 Fairmont Pkwy Pasadena, TX 77504
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    602 Fairmont Pkwy
    Pasadena, TX 77504
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    602 Fairmont Pkwy Pasadena, TX 77504
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jeffrey George
    (281) 335-0335
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.