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    Property profile & analytics
    OFF-MARKET Estimated value $920,000
    Assisted living facilities

    2939 Woodland Park Dr 185, Houston, TX 77082-2687

    67,293 SF 3.58 ac lot Built 1987
    Individually Owned 1-yr Hold Absentee Owner ~ Est. High Equity
    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
    Implied cap rate, NOI & suggested price
    Cap 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
    2939 Woodland Park Drive Developmen · 1 yrs held
    2939 Woodland Park Drive Developmen
    since 2025
    1 recorded transaction
    2025
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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