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2939 Woodland Park Dr 185 Houston, TX 77082-2687

OFF-MARKET Assisted living facilities Google Maps
67,293 SF 3.58 ac lot Built 1987
Individually Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Estimated value (blended)
$920k
Range $828k – $1.01M (±10%)
Property ID US82-2752134

Property summary

AI-generated overview

This exceptional 3.58-acre (approximately 155,988 square feet) commercial land parcel presents a remarkable redevelopment opportunity in Houston's desirable Westchase District. Strategically located at the southwest corner of Woodlands Park Drive and Meadowglen Lane, just south of Westheimer Road, this unrestricted property boasts unparalleled access and visibility. Situated within 10 minutes of City Centre and 25 minutes from Downtown Houston, the site benefits from a dense population base—over 500,000 people reside within a 5-mile radius. The Westchase District's thriving economy is underscored by the presence of major corporations including Metlife, Honeywell, National Oilwell Varco, and Bank of America, alongside numerous engineering and construction firms. This location offers a compelling blend of residential, retail, medical, dining, entertainment, and business park potential, catering to a high median income area approximately 6% above the city average. The property enjoys direct access to Westheimer Road and Royal Oaks Country Club, enhancing its appeal and accessibility. Furthermore, this site is located outside the 100-year floodplain, mitigating potential flood-related risks. This is a rare chance to acquire a significant land holding in a high-growth area with diverse development possibilities.

Property profile

Verified
Property type Assisted living facilities
Use group HOMES (RETIRED, NURSING)
Year built 1987
Construction CONCRETE BLOCKS
Total area 67,293 SF
Lot 3.58 ac (155,988 SF)
APN 1144110040006
UPID US82-2752134

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.18M
CAP Approach CAP
by Request
Comparable Approach Comparable
$663k
Blend (final) Blend
$920k

Owner & transaction history

since 2025
1 recorded transaction
2025
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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