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    Property profile & analytics

    2906 Southmore Ave Pasadena, TX 77503-2540

    • Warehouses
    • 9,200 SF
    • 0.36 lot acres
    OFF-MARKET
    Value Estimations
    $345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3249568
    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

    • A Quality Appliances / Air Conditioning Repair Service / Appliance Parts Supplier
    • Proximamente Appliances / Home Goods Store
    • Knee Walker Rental Pasadena / Scooter Rental Service

    Property Details for 2906 Southmore Ave

    Year built
    1966
    Construction
    METAL FRAME
    Lot size
    0.36 lot acres
    Property size
    9,200 SF
    Property type
    Warehouses
    APN
    752350000154
    APU
    752350000154

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $332,000
      Market price range: $333k - $712k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $480,000
      Current use
      OFFICE BUILDING
      $560,000
      Change: +16% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $550,000
      Change: +14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.1706
    Latitude
    29.6915
    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
    2023
    $6,431
    $158,980
    $369,234
    $528,214
    -
    $158,980
    $369,234
    $528,214

    Comparable in this City

    • Value Estimation
      $355,000
      60,971 SF

      3800 Pasadena Fwy

      WAREHOUSE, STORAGE • 60,971 SF
      3800 Pasadena Fwy, Pasadena, TX 77503-1140
      View Details
    • Value Estimation by Request
      56,976 SF

      1802 Preston Ave

      WAREHOUSE, STORAGE • 56,976 SF
      1802 Preston Ave, Pasadena, TX 77503-2919
      View Details
    • Value Estimation by Request
      139,655 SF

      5176 Red Bluff Rd

      Distribution properties • 139,655 SF
      5176 Red Bluff Rd, Pasadena, TX 77503
      View Details
    • Value Estimation
      $410,000
      1,800 SF

      3629 Pasadena Blvd

      WAREHOUSE, STORAGE • 1,800 SF
      3629 Pasadena Blvd, Pasadena, TX 77503-3207
      View Details
    • Value Estimation
      $210,000
      3,200 SF

      2416 Sam Houston S Pkwy

      WAREHOUSE, STORAGE • 3,200 SF
      2416 Sam Houston S Pkwy, Pasadena, TX 77503-4008
      View Details
    • Value Estimation
      $335,000
      9,200 SF

      406 Preston Ave

      WAREHOUSE, STORAGE • 9,200 SF
      406 Preston Ave, Pasadena, TX 77503-1227
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      139,655 SF

      Pasadena Logistics Center: Class A Distribution Space

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    • Contact for pricing
      658,884 SF

      Prime Pasadena Distribution Center

      15 Acres, 658,884 SF, Vacant
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      85,530 SF

      Beltway Office Park: Pasadena, TX

      85,530 SF Executive Office Building, 100% Occupied
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      View Details
    • $1,315,000

      Unrestricted Land with Beltway Access

      1.415 acre unrestricted lot accessible from Beltway 8.
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    • $155,000

      Pasadena Land For Sale

      Land available for sale in Pasadena, Texas.
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    • $3,506,580

      Development Land Near Retail Center

      8+ acres ready for development near Kroger retail center.
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    Similar Nearby for Lease

    • Contact for pricing
      46,573 SF

      Pasadena Warehouse with Office Space

      46,573 SF warehouse with office and dock doors.
      3009 Pasadena Fwy, Pasadena, TX 77503
      View Details
    • $0.85 SF/Yr
      6,800 SF

      Pasadena Warehouse with Heavy Power

      6,800 SF warehouse space near Beltway 8.
      2061 Magnolia Dr, Pasadena, TX 77503
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    • Contact for pricing
      355,071 SF

      Pasadena Distribution Warehouse For Rent

      355,071 SF distribution warehouse with cross-dock configuration available for lease.
      307 Beltway Green Blvd, Pasadena, TX 77503
      View Details
    • Contact for pricing

      Pasadena Industrial Property Available

      Industrial property available for lease in Pasadena, Texas.
      1485 East Sam Houston Pkwy South, Pasadena, TX 77503
      View Details
    • $12 SF/Yr
      24,948 SF

      Prime Pasadena Retail Space

      24,948 SF Retail Building - Available Now
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      View Details
    • $25 SF/Yr
      1,071 SF

      Office Space with Strong Tenants

      Fully occupied office space with credit tenants and growth potential.
      3737-3743 Red Bluff Rd, Pasadena, TX 77503
      View Details
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    2906 Southmore Ave
    Pasadena, TX 77503-2540
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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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