Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1216 Southmore Ave, Unit 24 Pasadena, TX 77502-1742
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1216 Southmore Ave, Unit 24 Pasadena, TX 77502-1742

    View on Map
    • Garden apartment buildings
    • 7,280 SF
    • 0.55 lot acres
    Off-Market
    Property ID
    US82-2070154
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 1216 Southmore Ave

    Year built
    1962
    Construction
    BRICK
    Lot size
    0.55 lot acres
    Property size
    7,280 SF
    Property type
    Garden apartment buildings
    APN
    761830020006
    APU
    761830020006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.2247
    Latitude
    29.6909
    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
    $12,109
    $240,000
    $912,842
    $1,152,842
    -
    $240,000
    $912,842
    $1,152,842

    Comparable in this City

    • Value Estimation
      $605,000
      8,882 SF

      1111 Queens Rd, Unit 111

      GARDEN APT, COURT APT (5+ UNITS) • 8,882 SF
      1111 Queens Rd, Pasadena, TX 77502-4381
      View Details
    • Value Estimation
      $785,000
      8,656 SF

      920 Houston Ave, Unit 360

      GARDEN APT, COURT APT (5+ UNITS) • 8,656 SF
      920 Houston Ave, Pasadena, TX 77502-2221
      View Details
    • Value Estimation
      $755,000
      4,894 SF

      403 Garner Rd, Unit 52

      GARDEN APT, COURT APT (5+ UNITS) • 4,894 SF
      403 Garner Rd, Pasadena, TX 77502-2182
      View Details
    • Value Estimation
      $1,495,000
      16,402 SF

      1911 Southmore Ave, Unit 115

      GARDEN APT, COURT APT (5+ UNITS) • 16,402 SF
      1911 Southmore Ave, Pasadena, TX 77502-1322
      View Details
    • Value Estimation
      $875,000
      14,468 SF

      2701 Pasadena Blvd, Unit 120

      GARDEN APT, COURT APT (5+ UNITS) • 14,468 SF
      2701 Pasadena Blvd, Pasadena, TX 77502-3272
      View Details
    • Value Estimation
      $1,080,000
      12,054 SF

      402 Garner Rd, Unit 195

      GARDEN APT, COURT APT (5+ UNITS) • 12,054 SF
      402 Garner Rd, Pasadena, TX 77502-2121
      View Details

    Similar Nearby for Sale

    • $3,933,000

      Shaver Landing Townhomes Investment Opportunity

      Gated community with 19 fully leased townhomes for sale.
      2711 Arlington Ct, Pasadena, TX 77502
      View Details
    • Contact for pricing
      4,386 SF

      Fully Leased Pasadena Fourplex

      Four 2-bedroom units near park and school.
      2816 Lafferty Rd, Pasadena, TX 77502
      View Details
    • Contact for pricing
      6,481 SF

      Pasadena Investment Opportunity

      1.5-acre property suitable for retail, RV park, or multifamily developments.
      1855 Richey St, Pasadena, TX 77502
      View Details
    • Contact for pricing
      10,404 SF

      Commercial Property on Shaver Street

      Commercial property with high traffic exposure and multiple tenants.
      2510 Shaver St, Pasadena, TX 77502
      View Details
    • $1,500,000

      Pasadena Commercial/Retail Building For Sale

      Commercial/Retail building in the heart of Pasadena on a hard corner.
      2615 Strawberry Rd, Pasadena, TX 77502
      View Details
    • Contact for pricing
      6,481 SF

      Pasadena Car Wash & Land

      6,481 SF Car Wash, Redevelopment Potential
      1855 Richey St, Pasadena, TX 77502
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,885 SF

      Retail Space in Pasadena Center

      Retail space in a high-traffic Pasadena neighborhood center.
      1353 Pasadena Blvd, Pasadena, TX 77502
      View Details
    • Contact for pricing

      Pasadena Flex Space For Rent

      Office and warehouse spaces with convenient access to the city.
      2950 Shaver St, Pasadena, TX 77502
      View Details
    • Contact for pricing

      Pasadena Industrial Warehouse with Cranes

      17,171 SF industrial warehouse with cranes and stabilized yard.
      511 Curtis Ave, Pasadena, TX 77502
      View Details
    • Contact for pricing

      Retail Space Near Red Bluff

      Shell space in new shopping center, suitable for various uses.
      2525 Southmore Ave, Pasadena, TX 77502
      View Details
    • $3,200 /Mo
      1,500 SF

      Retail/Office Spaces in Pasadena Oaks

      Retail and office spaces available in established Pasadena neighborhood.
      1431-1433 S Richey St, Pasadena, TX 77502
      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 St, Pasadena, TX 77502
      View Details
    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.
    1216 Southmore Ave, Unit 24
    Pasadena, TX 77502-1742
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!