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Property profile & analytics
OFF-MARKET
Estimated value
$1,570,000
Medical Office Space
17521 St Lukes Way The Woodlands, TX 77384-8039
Entity Owned
12-yr Hold
Free & Clear
Property ID
US83-2332610
Property summary
AI-generated overview
This exceptional medical office space, located at 17521 St. Lukes Way in Conroe, Texas, 77384, offers a prime opportunity for medical professionals seeking a well-established presence in the thriving Woodlands submarket. The property, built in 2011, is a Class B building totaling 22,000 square feet and features a single building with ample parking (50 spaces). Currently, there is 2,163 square feet of immediately available space for lease, perfect for a growing practice or expansion. The building is configured for multiple tenants, providing a collaborative and professional environment. The address is conveniently situated within the desirable Woodlands submarket, offering easy access to major roadways, amenities, and a strong patient base. This sublease opportunity presents a cost-effective entry point into a high-demand area. The property's modern design and convenient location make it an ideal choice for medical practices seeking to establish or expand their presence in this dynamic market. The available space is ready for immediate occupancy. Contact us today to schedule a viewing and explore the possibilities.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2011
Total area
23,750 SF
Lot
2.08 ac (90,779 SF)
APN
9700-19-00200
UPID
US83-2332610
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.01M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.13M
Blend (final)
Blend
$1.57M
Owner & transaction history
HRSE SLEHWAY MOB
HRSE SLEHWAY MOB
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$2.2M
+33.7%
Apartment house (5+ units)
$2.2M
+28.3%
Auto repair, garage
$2.1M
+26.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs The Woodlands submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs The Woodlands submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$1,010,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,680,000
Current use
WAREHOUSE, STORAGE
$2,245,000
Change: +34% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,155,000
Change: +28% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,120,000
Change: +26% · Conversion: Difficult
OFFICE BUILDING
$1,905,000
Change: +13% · Conversion: Easy
RETAIL STORES
$1,795,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$1.57M
Range $1.41M – $1.73M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$66 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$94,451
Tax year 2024
Assessed value
$5,350,000
Assessed 2024
Previous assessed
$5,300,000
+0.9% YoY
Effective rate
1.77%
On assessed value
Assessed land
$1,089,348
Assessed improvement
$4,260,652
Land market value
$1,089,348
Improvement market value
$4,260,652
Total market value
$5,350,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2011
Heating
FORCED AIR
Cooling
CENTRAL
Total area
23,750 SF
Lot
2.08 ac (90,779 SF)
APN
9700-19-00200
UPID
US83-2332610
Jurisdiction
MONTGOMERY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.9M
RETAIL STORES
Est. value
$1.8M
MEDICAL BUILDING Current
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2011
Heating
FORCED AIR
Cooling
Yes
Lot
2.08 ac
Current owner
From public records · entity-resolved
HRSE SLEHWAY MOB
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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