Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space on Spencer Highway Title is generated by Realmo AI

    6868 Spencer Hwy, Pasadena, TX 77505

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space with high traffic exposure on Spencer Highway.

    Type:Retail
    Added:
    Jun 25, 2024
    Days on Market:
    710
    Last Refresh:
    May 13 at 8:07 pm

    Property Features for 6868 Spencer Hwy

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 6868 Spencer Hwy Contact us

    Ste. 105 $12/Mo

    Size
    2,386 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Jason Gaines

    Listing agent Jason Gaines License #TX

    Listing office Sturbridge Commercial

    Listing date Jun 25, 2024

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of Sturbridge Commercial

    HighLights

    • Located on the SWC of Spencer Highway & Red Bluff Road.
    • Exposure to over 43,800 vehicles per day.
    • Near retailers including Harbor Freight Tools.
    • Near retailers including Big Lots.
    • Near retailers including Kroger.
    • Near retailers including Dollar Tree and LA Fitness.

    Overview

    This retail space is located on the southwest corner of Spencer Highway and Red Bluff Road, offering exposure to over 43,800 vehicles per day. The property is situated near retailers such as Harbor Freight Tools, Big Lots, Kroger, Dollar Tree, and LA Fitness.
    Property Profile Location Intelligence

    Current Use by Public Records

    AAAA AUTO INSURANCE Insurance Agency Coinstar Kiosk | Bitcoin ... Atm Metro by T-Mobile Mobile Phone Store Value Tax Service Accounting Firm Western Union Bank

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.1329442
    Latitude
    29.6630521

    Nearby Similar for Lease

    • $0.85 SF/Yr
      13,093 SF

      Pasadena Industrial Building with Expansion

      13,093 SF industrial building with excess land.
      909 Shaver Street, Pasadena, TX 77506
      View Details
    • $1.50 SF/Yr
      6,618 SF

      Retail/Office Space on Richey Street

      Retail and office spaces available in a high-traffic area.
      2015 Richey Street, Pasadena, TX
      View Details
    • $12 SF/Yr
      8,300 SF

      Pasadena Retail Space For Lease

      Retail space in Pasadena, TX, with high visibility and frontage.
      111 W Southmore Avenue, Pasadena, TX
      View Details
    • $1,250/Mo
      2,400 SF

      Retail/Office Spaces in Pasadena Oaks

      Retail and office spaces available in established Pasadena neighborhood.
      1431-1433 S Richey Street, Pasadena, TX
      View Details
    • $39 SF/Yr
      2,890 SF

      Retail Space on Fairmont Parkway

      Retail space available for lease in Pasadena, Texas.
      5661-5689 Fairmont Parkway, Pasadena, TX 77505
      View Details
    • $1.50 SF/Yr
      3,000 SF

      Retail/Office Spaces Available for Lease

      Move-in ready retail and office spaces with excellent visibility.
      301 Vista Road, Pasadena, TX
      View Details
    • $2,895/Mo
      2,365 SF

      Pasadena Office Space For Rent

      Move-in ready office space with excellent visibility and ample parking.
      1107 Fairmont Parkway, Pasadena, TX
      View Details
    • $16 SF/Yr
      1,150 SF

      Bayshore Towers Ground Floor Office

      Office space in Bayshore Towers with ample parking.
      3219 Burke Road, Pasadena, TX
      View Details
    • $2,950/Mo
      1,444 SF

      Updated Retail Space Available

      Recently updated retail space in a busy location.
      901 W Hart Ave, Pasadena, TX
      View Details
    • $25 SF/Yr

      Freestanding Building on Fairmont Parkway

      Freestanding building suitable for retail, medical, or office uses.
      6015 Fairmont Pkwy, Pasadena, TX 77505
      View Details
    • $0.85 SF/Yr
      6,800 SF

      Pasadena Warehouse with Heavy Power

      6,800 SF warehouse space near Beltway 8.
      2061 Magnolia, Pasadena, TX
      View Details
    • $18 SF/Yr
      9,050 SF

      Retail Space in Pasadena, TX

      9,050 SF retail space available for lease.
      4300 Fairmont Pky, Pasadena, TX
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space with high traffic exposure on Spencer Highway.
    Where is this retail space located?
    The property is located at 6868 Spencer Hwy Pasadena, TX.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Located on the SWC of Spencer Highway & Red Bluff Road.; Exposure to over 43,800 vehicles per day.; Near retailers including Harbor Freight Tools.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jason Gaines
    Real Estate License ID: TX
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    6868 Spencer Hwy, Pasadena, TX 77505
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!