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    Property profile & analytics

    1609 Spg Cypress Rd Spring, TX 77388-3667

    • Strip malls
    • 22,373 SF
    • 6.25 lot acres
    OFF-MARKET
    Value Estimations
    $910,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3902407
    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

    • U-Haul Moving & Storage of Spring / Car Rental Facility
    • Twisted Fit / Training Center
    • Corner Foot Massage / Alternative Medicine Practice / Spa & Massage Center
    • Batteries Plus / Auto Parts Store
    • Trailer Rental at U-Haul / Car Rental Facility

    Property Details for 1609 Spg Cypress Rd

    Year built
    1985
    Construction
    CONCRETE BLOCKS
    Lot size
    6.25 lot acres
    Property size
    22,373 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    441420000100
    APU
    441420000100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $830,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $990,000
      Market price range: $583k - $990k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $770,000
      Current use
      MEDICAL BUILDING
      $1,305,000
      Change: +69% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,255,000
      Change: +63% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,080,000
      Change: +41% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Spring
    County
    Harris
    State
    Texas
    Longitude
    -95.4377
    Latitude
    30.0731
    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
    $59,367
    $2,720,800
    $4,852,858
    $7,573,658
    -
    $2,720,800
    $4,852,858
    $7,573,658

    Comparable in this City

    • Value Estimation
      $785,000
      30,020 SF

      4674 Louetta Rd

      SHOPPING CENTER, STRIP CENTER • 30,020 SF
      4674 Louetta Rd, Spring, TX 77388-4417
      View Details
    • Value Estimation by Request
      11,312 SF

      3930 Louetta Rd

      SHOPPING CENTER, STRIP CENTER • 11,312 SF
      3930 Louetta Rd, Spring, TX 77388-4565
      View Details
    • Value Estimation
      $675,000
      23,760 SF

      4334 Fm 2920th Rd

      SHOPPING CENTER, STRIP CENTER • 23,760 SF
      4334 Fm 2920th Rd, Spring, TX 77388-3593
      View Details
    • Value Estimation
      $825,000
      20,370 SF

      3730 Fm 2920th Rd

      SHOPPING CENTER, STRIP CENTER • 20,370 SF
      3730 Fm 2920th Rd, Spring, TX 77388-4107
      View Details
    • Value Estimation
      $585,000
      12,476 SF

      3710 Fm 2920th Rd

      SHOPPING CENTER, STRIP CENTER • 12,476 SF
      3710 Fm 2920th Rd, Spring, TX 77388-4120
      View Details
    • Value Estimation
      $520,000
      17,250 SF

      4711 Louetta Rd

      SHOPPING CENTER, STRIP CENTER • 17,250 SF
      4711 Louetta Rd, Spring, TX 77388-4351
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,437 SF

      New Class A Strip Center

      Class A strip center in Spring, TX, high-growth area.
      21943 Gosling Rd, Spring, TX 77388
      View Details
    • $1,700,000
      4,108 SF

      Turn-Key Mechanic Shop For Sale

      Mechanic shop on fenced lot near major roads.
      21123 Rhodes Rd, Spring, TX 77388
      View Details
    • $4,350,000

      Sun Auto NNN Lease Opportunity

      20-year absolute NNN lease with corporate guarantee.
      5445 Farm To Market 2920, Spring, TX 77388
      View Details
    • Contact for pricing
      4,925 SF

      Industrial Building with Office Space

      4,925 SF industrial building with warehouse, office, and carport.
      19111 Applecrest Way, Spring, TX 77388
      View Details
    • $1,700,000
      4,108 SF

      Turn-Key Mechanic Shop For Sale

      Mechanic shop on fenced lot near major roads, ready now.
      21123 Rhodes Rd, Spring, TX 77388
      View Details
    • Contact for pricing

      Unrestricted Land on Louetta Road

      4.5 acres of unrestricted land ideal for various developments.
      2303 Louetta Rd, Spring, TX 77388
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,527 SF

      Retail Space on Louetta Road

      Retail space for lease in high-traffic Spring, Texas location.
      3301 Louetta Rd, Spring, TX 77388
      View Details
    • Contact for pricing

      Retail Center Near Exxon Campus

      Retail spaces for lease in a high-growth Houston trade area.
      2040 Louetta Rd, Spring, TX 77388
      View Details
    • $0.15 SF/Yr

      Versatile Retail and Warehouse Space

      Retail and warehouse suites with customized floor plans available.
      2810 Louetta Rd, Spring, TX 77388
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      20141 Interstate 45 N, Spring, TX 77388
      View Details
    • Contact for pricing

      Retail Space in Spring Area

      Retail spaces available in Target-anchored power center.
      19507 I-45, Spring, TX 77388
      View Details
    • Contact for pricing
      3,082 SF

      Retail Space in Spring, Texas

      Retail space available for lease in Spring, Texas.
      230-250 Cypresswood Dr, Spring, TX 77388
      View Details
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    Spring, TX 77388-3667
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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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