Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1601 Wooded Pne Dr, Unit 128 Houston, TX 77073-3015

    • Garden apartment buildings
    • 7,644 SF
    • 5.18 lot acres
    OFF-MARKET
    Value Estimations
    $590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0261591
    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

    • Candleridge Park Apartments / Apartment Complex
    • My Houston Limousine / Limousine Service / Airport Shuttle Service
    • Virtual Virtuosa / Apartment Complex

    Property Details for 1601 Wooded Pne Dr

    Year built
    1985
    Construction
    FRAME
    Lot size
    5.18 lot acres
    Property size
    7,644 SF
    Property type
    Garden apartment buildings
    APN
    1161440010003
    APU
    1161440010003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $460,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $716,000
      Market price range: $250k - $717k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $480,000
      Current use
      RESTAURANT
      $775,000
      Change: +62% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $605,000
      Change: +26% Conversion: Difficult
      OFFICE BUILDING
      $530,000
      Change: +11% Conversion: Moderate
      MEDICAL BUILDING
      $490,000
      Change: +2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3996
    Latitude
    30.014
    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
    $103,705
    $1,128,510
    $9,066,817
    $10,195,327
    -
    $1,128,510
    $9,066,817
    $10,195,327

    Comparable in this City

    • Value Estimation
      $1,065,000
      10,137 SF

      22921 Imperial Vly Dr, Unit 266

      GARDEN APT, COURT APT (5+ UNITS) • 10,137 SF
      22921 Imperial Vly Dr, Houston, TX 77073-1146
      View Details
    • Value Estimation
      $860,000
      8,976 SF

      20430 Imperial Vly Dr, Unit 208

      GARDEN APT, COURT APT (5+ UNITS) • 8,976 SF
      20430 Imperial Vly Dr, Houston, TX 77073-5507
      View Details
    • Value Estimation
      $560,000
      9,512 SF

      3023 Woodcreek Ln, Unit 42

      GARDEN APT, COURT APT (5+ UNITS) • 9,512 SF
      3023 Woodcreek Ln, Houston, TX 77073-3100
      View Details
    • Value Estimation by Request
      4,484 SF

      1819 Briarcreek Blvd, Unit 44

      GARDEN APT, COURT APT (5+ UNITS) • 4,484 SF
      1819 Briarcreek Blvd, Houston, TX 77073-1553
      View Details
    • Value Estimation
      $1,700,000
      17,760 SF

      311 Parramatta Ln, Unit 224

      GARDEN APT, COURT APT (5+ UNITS) • 17,760 SF
      311 Parramatta Ln, Houston, TX 77073-1014
      View Details
    • Value Estimation
      $3,275,000
      32,754 SF

      21021 Aldine Westfield Rd, Unit 330

      GARDEN APT, COURT APT (5+ UNITS) • 32,754 SF
      21021 Aldine Westfield Rd, Houston, TX 77073
      View Details

    Similar Nearby for Sale

    • $1,564,239
      5.13 Acres

      Prime Houston Commercial Land

      5.13 Acres, High-Traffic Location, Ready to Build.
      22214 Cypress Slough Dr, Houston, TX 77073
      View Details
    • $2,600,000
      10.38 Acres

      Houston Commercial Land - 10 Acres

      Prime 10-acre commercial lot with existing building.
      22940 Imperial Valley Dr, Houston, TX 77073
      View Details
    • $65,000

      Land Near Bush Airport

      Land for sale near Bush International Airport and major highways.
      W Hardy Rd, Houston, TX 77073
      View Details
    • $2,300,000

      Imperial Valley Commercial Land Available

      Commercial land with income-producing improvements near major thoroughfares.
      22940 Imperial Valley Dr, Houston, TX 77073
      View Details
    • $1,482,174
      149,352 SF

      Partially Cleared Land For Sale

      3.43 acres of land with high visibility and accessibility.
      Highland Cross Dr, Houston, TX 77073
      View Details
    • Contact for pricing
      82,680 SF

      ALD-WEST Commerce Center

      Houston Distribution Warehouse, 82,680 SF
      17217 Aldine Westfield Rd, Houston, TX 77073
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      28,561 SF

      Houston Warehouse Space For Lease

      Modern warehouse, 13,969 SF available
      600 Northpark Central Dr, Houston, TX 77073
      View Details
    • $12 SF/Yr
      107,002 SF

      Cypress Landing Retail Center

      Houston Retail Space - Multiple Units Available
      3040 Farm To Market 1960 Rd, Houston, TX 77073
      View Details
    • Contact for pricing
      6,500 SF

      Intercontinental Crossing Warehouse

      6,500 SF Warehouse - Harris County
      18801 Intercontinental Crossing Dr, Houston, TX 77073
      View Details
    • Contact for pricing
      82,680 SF

      ALD-WEST Commerce Center: Houston Distribution Hub

      Modern 82,680 SF Distribution Center, Ready for Occupancy
      17217 Aldine Westfield Rd, Houston, TX 77073
      View Details
    • Contact for pricing
      25,050 SF

      North Houston Industrial Property

      25,050 SF industrial property with crane, wash bay, and yard.
      20203 Carriage Point Dr, Houston, TX 77073
      View Details
    • Contact for pricing
      2,040 SF

      Retail Space Near FM1960

      Retail space with high visibility and ample parking.
      310 W Fm 1960 Rd, Houston, TX 77073
      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.
    1601 Wooded Pne Dr, Unit 128
    Houston, TX 77073-3015
    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.