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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    203 That Way St Lake Jackson, TX 77566-5211

    • Medical offices
    • 6,364 SF
    • 2.77 lot acres
    OFF-MARKET
    Value Estimations
    $415,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3930816
    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

    • Medical offices

    Property Details for 203 That Way St

    Year built
    1967
    Lot size
    2.77 lot acres
    Property size
    6,364 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    5850-1209-000
    APU
    58501209000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $415,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $570,000
      Current use
      RETAIL STORES
      $540,000
      Change: -6% Conversion: Difficult
      WAREHOUSE, STORAGE
      $500,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Jackson
    County
    Brazoria
    State
    Texas
    Longitude
    -95.4508
    Latitude
    29.0436
    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
    2018
    $0.00
    $867,590
    $1,077,290
    $1,944,880
    -
    $867,590
    $1,077,290
    $1,944,880

    Comparable in this City

    • Value Estimation
      $525,000
      4,950 SF

      208 Oak Dr S Ste, Unit 100

      MEDICAL BUILDING • 4,950 SF
      208 Oak Dr S Ste, Lake Jackson, TX 77566-5640
      View Details
    • Value Estimation
      $635,000
      10,572 SF

      200 Oak S Dr

      MEDICAL CLINIC • 10,572 SF
      200 Oak S Dr, Lake Jackson, TX 77566-5628
      View Details
    • Value Estimation
      $330,000
      2,750 SF

      192 Abner Jackson Pkwy

      MEDICAL BUILDING • 2,750 SF
      192 Abner Jackson Pkwy, Lake Jackson, TX 77566-5160
      View Details
    • Value Estimation
      $330,000
      3,513 SF

      217 Oak S Dr

      MEDICAL CLINIC • 3,513 SF
      217 Oak S Dr, Lake Jackson, TX 77566-5675
      View Details
    • Value Estimation
      $370,000
      2,507 SF

      215 Oak Dr S Ste H

      MEDICAL BUILDING • 2,507 SF
      215 Oak Dr S Ste H, Lake Jackson, TX 77566-5618
      View Details
    • Value Estimation
      $375,000
      2,237 SF

      215 Oak Dr S Ste A

      MEDICAL BUILDING • 2,237 SF
      215 Oak Dr S Ste A, Lake Jackson, TX 77566-5617
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,954 SF

      Move-in Ready Medical Office Suite

      Versatile medical office near CHI St. Luke's Health-Brazosport Hospital.
      215 S Oak Dr, Lake Jackson, TX 77566
      View Details
    • Contact for pricing
      1,493 SF

      Medical Office Near CHI Hospital

      Move-in ready medical office suite near CHI St. Luke's Hospital.
      215 S Oak Dr, Lake Jackson, TX 77566
      View Details
    • $1,500,000

      26 Acres in Lake Jackson

      26 acres of commercial land with easy highway access.
      100 Fm 2004 Rd, Richwood, TX 77566
      View Details
    • $125,000

      Updated Condo Ready for Move-In

      Updated 2-bedroom condo with modern amenities and convenient location.
      418 Garland Dr, Clute, TX 77566
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      Lake Jackson Specialty Property

      Specialty property available for sale in Lake Jackson, Texas.
      111 Holly St, Lake Jackson, TX 77566
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      Corner Lot in Lake Jackson

      Commercial land with high visibility in Lake Jackson, Texas.
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    Similar Nearby for Lease

    • Contact for pricing
      2,189 SF

      Lake Jackson Office Space Available

      Office space available for lease in Lake Jackson, Texas.
      85 Oak Dr, Lake Jackson, TX 77566
      View Details
    • $30 SF/Yr
      1,200 SF

      Lake Jackson Retail Space for Lease

      High-traffic storefront, 1200 sq ft available
      200 Tx-332, Lake Jackson, TX 77566
      View Details
    • $24 SF/Yr
      2,075 SF

      Lake Jackson Retail Space for Lease

      ±2,075 SF Retail Space Available in Brazoria County
      204 Tx-332, Lake Jackson, TX 77566
      View Details
    • Contact for pricing
      10,500 SF

      Lake Jackson Retail Space Available

      Prime Retail Space, 2,039 sq ft
      300 Tx-332, Lake Jackson, TX 77566
      View Details
    • $16 SF/Yr
      1,450 SF

      Lake Jackson Retail Space Available

      Retail space available for lease in Lake Jackson, Texas.
      502 This Way St, Lake Jackson, TX 77566
      View Details
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    203 That Way St
    Lake Jackson, TX 77566-5211
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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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