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    1603 Shaver St Pasadena, TX 77502

    Sponsored
    For Sale
    $1,400,000

    12,130 SF Flex Space, High Traffic Area

    Property size:
    12,130 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 12,130-square-foot industrial property in Pasadena, Texas, presents a prime investment opportunity. Situated on a 1.6-acre lot at 1603 Shaver St, 77502, this single-story building boasts 300 feet of frontage on Shaver Street and 190 feet on East Houston Avenue—a highly trafficked location near I-45 South and State Highway 225. Built in 1971 and renovated in 2006, the property features two buildings totaling 12,130 square feet of net rentable space, five dock-high doors, and an 18-foot ceiling height. The property is located in Flood Zone X. This versatile flex space, suitable for manufacturing and warehouse uses, offers significant potential for various businesses. An adjacent 32,200-square-foot lot is available for separate purchase. The asking price is $1,400,000. Owner financing is available for both the real estate and the existing business, which has operated successfully for over 45 years, offering complete commercial fleet services (including collision repair, antique restoration, custom fabrication, and more). For an additional $400,000, the buyer can acquire the established business, including licenses, contracts, fixtures, supplies, and more. This is a rare opportunity to acquire a well-located, established business and property with significant upside potential.

    Property Features for 1603 Shaver St

    General Information

    Property type
    Distribution properties
    Square Feet
    12,130 SF

    Building Details

    Year Built/Renovated
    1971/2006
    Stories
    1

    We can help!

    Listing Contact
    ARMANDA ROMERO
    ARMANDA ROMERO

    Learn more

    HighLights

    • Prime investment opportunity: 12,130 SF industrial property on a 1.6‑acre lot in Pasadena, TX.
    • High‑traffic location: 300' frontage on Shaver St. and 190' on East Houston Ave., near I‑45 S and Hwy 225.
    • Two buildings totaling 12,130 SF of net rentable space, five dock‑high doors, and 18' ceilings.
    • Flood Zone X. Adjacent 32,200 SF lot available separately.
    • Asking price: $1,400,000; Owner financing available. Established business (45+ years) available for an additional $400,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Swindoll Paint & Body ... Auto Body Shop Swindoll Sheila Insurance Agency

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.209069841344
    Latitude
    29.687911304744

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    FAQs

    What type of property is this?
    Distribution property - 12,130 SF Flex Space, High Traffic Area
    Where is this distribution property located?
    The property is located at 1603 Shaver St Pasadena, TX.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Prime investment opportunity: 12,130 SF industrial property on a 1.6-acre lot in Pasadena, TX.; High-traffic location: 300' frontage on Shaver St. and 190' on East Houston Ave., near I-45 S and Hwy 225.; Two buildings totaling 12,130 SF of net rentable space, five dock-high doors, and 18' ceilings.
    Request Owner's contact information
    1603 Shaver St Pasadena, TX 77502
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    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
    1603 Shaver St Pasadena, TX 77502
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    We can help!
    Listing Contact
    ARMANDA ROMERO
    ARMANDA ROMERO
    Real Estate License ID: TX 747797
    Learn more
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