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    23801 Cypresswood Dr Spring, TX 77373-8946
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    Property profile & analytics

    23801 Cypresswood Dr, Spring, TX 77373-8946

    View on Map
    • Strip malls
    • 2,000 SF
    • 5.00 lot acres
    Off-Market
    Property ID
    US82-5411222
    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

    • Multilinks International LLC / Corporate Office
    • A2Z Storage / Storage Facility
    • Velvet Varnish Lounge / Nail Salon
    • Just A Taste Of Chicago Foods & Snacks / Restaurant
    • MULTILINKS AUTO / Car Dealership

    Property Details for 23801 Cypresswood Dr

    Year built
    2020
    Construction
    STEEL FRAME
    Lot size
    5.00 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    421250000524
    APU
    421250000524

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 4, 2020 — Sekson INC — Deed Of Trust · related $1.3M · Community Bk NA
    Jun 22, 2018 — Sekson INC Sekhon,mandeep S Warranty Deed $569k · Texas Advantage Cmnty Bk NA
    Jan 8, 2015 — Mandeep S Sekhon Wagner,mary Grant Deed $120k · Texas Advantage Cmnty Bk NA
    Mar 22, 2012 — Severiano E Cortez Wagner,mary Warranty Deed · related —
    Jan 26, 2007 — Mary Wagner Townson,denny R Warranty Deed · related —
    May 10, 2005 — Kevin Townson — Trustees Deed · related $17k · Prosperity Bank 57

    Description

    This exceptional 17,600 square foot commercial property, located at 23801 Cypresswood Drive in Spring, Texas (Harris County, zip code 77373), presents a compelling investment opportunity. The 5-acre site boasts eight single-story buildings constructed between 2020 and 2024, featuring a diverse mix of uses including retail, industrial, and self-storage. Currently operating at 85% occupancy (as of October 8, 2024), the complex comprises 119 units, including eight mini office/retail spaces, a 10,000 square foot self-storage facility, and a newly built 5,600 square foot multi-use building with 11 office/warehouse units. The property offers ample parking with 68 spaces, accommodating trucks and RVs. The 12-foot ceiling height in the warehouse spaces adds to its versatility. Approved plans exist for an additional 30,000 square feet of development, providing significant expansion potential. This Class B property, situated just 15 minutes from George Bush Intercontinental Airport and across from Planet Ford Stadium, benefits from its location in one of Greater Houston's fastest-growing areas, ensuring high demand and strong tenant retention. The property's diverse revenue streams from office, retail, self-storage, and parking make it an attractive, stabilized investment. The APN is 1217800010001. The property is owned by Sekson Inc. and is being offered for sale by owner.

    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
    Spring
    County
    Harris
    State
    Texas
    Longitude
    -95.3556
    Latitude
    30.0553
    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
    $9,123
    $762,300
    $737,700
    $1,500,000
    -
    $762,300
    $737,700
    $1,500,000

    Comparable in this City

    • Value Estimation
      $1,050,000
      37,916 SF

      1414 Spg Cypress Rd

      SHOPPING CENTER, STRIP CENTER
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    • Value Estimation by Request
      4,063 SF

      315 Gentry St

      SHOPPING CENTER, STRIP CENTER
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      10,720 SF

      23311 Aldine Westfield Rd

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      17,978 SF

      24403 Aldine Westfield Rd

      SHOPPING CENTER, STRIP CENTER
      24403 Aldine Westfield Rd, Spring, TX 77373-5945
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    • Value Estimation
      $550,000
      21,852 SF

      24307 Aldine Westfield Rd

      SHOPPING CENTER, STRIP CENTER
      24307 Aldine Westfield Rd, Spring, TX 77373-5952
      View Details
    • Value Estimation
      $2,265,000
      91,191 SF

      11401 Spg Cypress Rd

      SHOPPING CENTER, STRIP CENTER
      11401 Spg Cypress Rd, Spring, TX 77373
      View Details

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      Commercial Land Near High Growth

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      Commercial Land on Interstate 45

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      5,025 SF

      Big O Tires Investment Property

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      11,985 SF

      Retail Space For Sale

      Retail space available for purchase in Spring, Texas.
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      Retail Development Opportunity in Houston

      0.84-acre parcel for retail development in high-traffic Houston corridor.
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    Similar Nearby for Lease

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      1,650 SF

      Retail Space in Spring, Texas

      Retail space available for lease in Spring, Texas.
      419 Gentry St, Spring, TX 77373
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      Retail Space for Lease

      Retail property available for lease in Spring, Texas.
      5671 Treaschwig Rd, Spring, TX 77373
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      Retail Space For Lease

      8,400 SF retail space available in new 2023 construction.
      25819 Cypresswood Dr, Spring, TX 77373
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      Retail Space for Lease

      Retail space available for lease in Spring, Texas.
      Nwc Of Treaschwig Rd & Cypresswood Dr, Spring, TX 77373
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      Spring Retail/Office Spaces Available

      New retail/office spaces for lease in a growing Spring submarket.
      23524 Aldine Westfield Rd, Spring, TX 77373
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    • Contact for pricing

      Retail Space in Spring, TX

      Retail space with excellent visibility and easy highway access.
      22719 Aldine Westfield Rd, Spring, TX 77373
      View Details
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    Spring, TX 77373-8946
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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.

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