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    Property profile & analytics

    1200 Lk Plz Dr, Unit 337 Spring, TX 77389-1862

    • Hotels
    • 238,626 SF
    • 3.09 lot acres
    OFF-MARKET
    Value Estimations
    $8,350,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1180675
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hotels

    Property Details for 1200 Lk Plz Dr

    Year built
    2017
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.09 lot acres
    Property size
    238,626 SF
    Property type
    Hotels
    Property subtype
    Motels
    APN
    1358830010011
    APU
    1358830010011

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,437,000
      Market price range: $3.68M - $7.44M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $5,315,000
      Current use
      MEDICAL BUILDING
      $13,895,000
      Change: +161% Conversion: Difficult
      WAREHOUSE, STORAGE
      $12,330,000
      Change: +132% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spring
    County
    Harris
    State
    Texas
    Longitude
    -95.4406
    Latitude
    30.0981
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $347,363
    $4,707,675
    $45,862,452
    $50,570,127
    -
    $4,707,675
    $45,862,452
    $50,570,127

    Comparable in this City

    • Value Estimation
      $1,775,000
      68,783 SF

      22742 Holzwarth Rd, Unit 125

      HOTEL/MOTEL • 68,783 SF
      22742 Holzwarth Rd, Spring, TX 77389-1771
      View Details
    • Value Estimation
      $1,910,000
      89,797 SF

      22814 Holzwarth Rd, Unit 128

      HOTEL • 89,797 SF
      22814 Holzwarth Rd, Spring, TX 77389-1426
      View Details
    • Value Estimation by Request
      241,225 SF

      Spg Stuebner Rd. & Kuykendahl Rd

      Individual retail properties • 241,225 SF
      0 Spg Stuebner Rd. & Kuykendahl Rd, Spring, TX 77389
      View Details
    • Value Estimation by Request
      3,930 SF

      7630 Dowdell Rd

      Medical offices • 3,930 SF
      7630 Dowdell Rd, Spring, TX 77389
      View Details
    • Value Estimation by Request
      0.42 Acres

      8303 Cinnamon Run

      VACANT COMMERCIAL LAND • 0.42 Acres
      8303 Cinnamon Run, Spring, TX 77389-3055
      View Details
    • Value Estimation by Request
      3.77 Acres

      Holzwarth Rd

      VACANT COMMERCIAL LAND • 3.77 Acres
      Holzwarth Rd, Spring, TX 77389
      View Details

    Similar Nearby for Sale

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      Residential Lot in Spring, Texas

      Vacant lot for custom home in established Spring neighborhood.
      02 Overcup Dr, Spring, TX 77389
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    • $1,709,000

      2.94 Acres on Gosling Road

      2.94 acres of commercial land with 100' frontage.
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    • $1,750,000
      9,446 SF

      Spring, TX Industrial Flex Space

      9,446 SF Flex/Warehouse, $1.75M
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    • $189,000

      Residential Lot in Preserve Community

      Partially wooded, fully fenced lot in Spring, TX.
      25307 Hideaway Run Dr, Spring, TX 77389
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    • Contact for pricing

      Land Near Grand Parkway

      Land suitable for development near Grand Parkway.
      5902 Spring Stuebner Rd, Spring, TX 77389
      View Details
    • $78,600

      Vacant Lot on Rhetta Lane

      Vacant lot available for sale in Spring, Texas.
      Rhetta Ln Ln, Spring, TX 77389
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    Similar Nearby for Lease

    • Contact for pricing
      38,000 SF

      Retail Space in Spring, Texas

      Retail property available for lease in Spring, Texas.
      1000 Lk Plz Dr, Spring, TX 77389
      View Details
    • Contact for pricing
      1,995 SF

      Flex Condos For Sale/Lease

      Flex condos available for sale or lease, customizable space.
      23645 Gosling Rd, Spring, TX 77389
      View Details
    • Contact for pricing
      2,710 SF

      Retail Space Available For Lease

      Retail space available for lease in Spring, Texas.
      2115 Spring Stuebner Rd, Spring, TX 77389
      View Details
    • Contact for pricing
      322,344 SF

      Spring Industrial Land - 7 Acres

      Prime Harris County location, single-tenant industrial land.
      3206 Spring Stuebner Rd, Spring, TX 77389
      View Details
    • $1,375,000
      5,587 SF

      New Office Complex For Lease

      Professional office buildings for lease in new complex under construction.
      21927 Gosling Rd, Spring, TX 77389
      View Details
    • Contact for pricing
      30,900 SF

      Kuykendahl Road Retail Center

      Spring, TX: 1,200 SF Retail Space Available
      22632 Kuykendahl Rd, Spring, TX 77389
      View Details
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    1200 Lk Plz Dr, Unit 337
    Spring, TX 77389-1862
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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
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