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    3937 Spencer Hwy Pasadena, TX 77504

    • Retail properties
    • 3,000 SF
    For Lease
    View listing
    $24 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 3937 Spencer Hwy

    Property size
    3,000 SF
    Property type
    Retail properties
    Property subtype
    Retail space

    Description

    Park View East Shopping Center, located at 3937 Spencer Hwy, Pasadena, TX 77504, presents a unique opportunity for retail businesses. This single-story, 3,000 square foot retail center boasts a highly desirable location on Spencer Highway, a primary east-west thoroughfare in Pasadena, offering 480 feet of prime frontage. The property benefits from its proximity to the Sam Houston Tollway (Beltway 8), a major artery connecting the entire Houston metropolitan area, ensuring high traffic volume and excellent visibility. The center is zoned for retail use and features two suites, each potentially divisible down to a minimum of 1,500 square feet, with a maximum contiguous space of 3,000 square feet. Currently, the entire 3,000 square feet is vacant, providing flexibility for a single tenant or the opportunity to lease individual units. The property is classified as a non-restaurant, hard corner location with endcap and highway frontage. Ample parking is available with 11 spaces. The cross street is Bayshore Ave. This property offers exceptional exposure and accessibility, making it an ideal location for a variety of retail businesses seeking a prominent presence in a high-traffic area of Pasadena. The property is ready for immediate occupancy.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.184
    Latitude
    29.6654

    Comparable in this City

    • Value Estimation by Request
      3,680 SF

      2901 Spencer Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,680 SF
      2901 Spencer Hwy, Pasadena, TX 77504-1003
      View Details
    • Value Estimation by Request
      2,700 SF

      4651 Spencer Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,700 SF
      4651 Spencer Hwy, Pasadena, TX 77504-1218
      View Details
    • Value Estimation by Request
      6,000 SF

      2510 Spencer Hwy

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      2510 Spencer Hwy, Pasadena, TX 77504-1016
      View Details
    • Value Estimation by Request
      7,226 SF

      115 Fairmont Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 7,226 SF
      115 Fairmont Pkwy, Pasadena, TX 77504-2725
      View Details
    • Value Estimation
      $495,000
      6,440 SF

      4207 Spencer Hwy

      RETAIL STORES (PERSONAL SERVICES) • 6,440 SF
      4207 Spencer Hwy, Pasadena, TX 77504-1221
      View Details
    • Value Estimation
      $360,000
      3,948 SF

      2701 Spencer Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,948 SF
      2701 Spencer Hwy, Pasadena, TX 77504-1019
      View Details

    Similar Nearby for Sale

    • $3,500,000
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      Pasadena Retail Center Investment

      Value-add shopping center, owner-user ideal.
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      Retail Building on Large Lot

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    • Contact for pricing

      Wendy's NNN Lease Property

      Single-tenant Wendy’s with a brand-new 20-year absolute NNN lease.
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      Pasadena Land For Sale

      Land available for sale in Pasadena, Texas.
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    Similar Nearby for Lease

    • Contact for pricing
      1,164 SF

      Retail Space Near Grocery Stores

      Retail space available near Fiesta Mart, Mi Tienda, and Food Town.
      2520 Spencer Hwy, Pasadena, TX 77504
      View Details
    • $18 SF/Yr
      9,050 SF

      Retail Space in Pasadena, TX

      9,050 SF retail space available for lease.
      4300 Fairmont Pkwy, Pasadena, TX 77504
      View Details
    • $22 SF/Yr
      23,560 SF

      Parkway Square Office & Retail Space

      Pasadena, TX: Prime Office & Retail
      4111 Fairmont Pkwy, Pasadena, TX 77504
      View Details
    • $24 SF/Yr
      3,000 SF

      Park View East Retail Center

      Pasadena, TX: Prime Retail Space Available
      3937 Spencer Hwy, Pasadena, TX 77504
      View Details
    • Contact for pricing
      1,075 SF

      Retail Space in South Houston

      Retail space available in a grocery-anchored Pasadena shopping center.
      3316 S Shaver St, Pasadena, TX 77504
      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 Rd, Pasadena, TX 77504
      View Details
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    3937 Spencer Hwy
    Pasadena, TX 77504
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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.

    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
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