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    3074 College Park Dr Conroe, TX 77384-8002
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    Property profile & analytics

    3074 College Park Dr Conroe, TX 77384-8002

    View on Map
    • Bars & Pubs
    • 14,553 SF
    • 1.31 lot acres
    Off-Market
    Property ID
    US83-2332596
    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
    $1,000,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Integra Health Clinics: Ghada Saqer, MD / Medical Clinic
    • Integra Medical Clinics (Main Office) / Medical Clinic
    • Your Health Lab / Medical Clinic
    • Ego Cuisine and Music / Restaurant

    Property Details for 3074 College Park Dr

    Year built
    2003
    Lot size
    1.31 lot acres
    Property size
    14,553 SF
    Property type
    Bars & Pubs
    Property subtype
    Pubs
    APN
    9700-00-00101
    APU
    97000000101

    Description

    This exceptional 14,557-square-foot shopping center, located at 3074 College Park Dr, Conroe, TX 77384, presents a compelling value-add opportunity in the highly desirable Woodlands market. Built in 2003 and renovated in 2020, the property sits on a substantial 86,349-square-foot lot. Currently vacant, this retail space offers significant potential for a new tenant or operator. Its strategic location benefits from a captive audience, nestled between I-45, The Woodlands College Park High School, and Lone Star College. The property enjoys adjacency to a Lowe's shadow anchor and proximity to the major retail hub of I-45 and Hwy 242. The surrounding area boasts a highly affluent consumer base, with over 140,000 residents within a 5-mile radius, exhibiting an average household income exceeding $160,000. This prime user opportunity in a top Texas market offers substantial upside for the right investor. The asking price for this property is $2,200,000. The property is situated in Montgomery County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $675,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,324,000
      Market price range: $1.01M - $2.43M

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

    Location Insight

    • Map
    • Local Demand
    City
    Conroe
    County
    Montgomery
    State
    Texas
    Longitude
    -95.4628
    Latitude
    30.2078
    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
    2024
    $50,255
    $1,028,710
    $1,769,250
    $2,797,960
    -
    $1,028,710
    $1,769,250
    $2,797,960

    Comparable in this City

    • Value Estimation by Request
      28,047 SF

      3600 Fm 1488 Rd

      Restaurants • 28,047 SF
      3600 Fm 1488 Rd, Conroe, TX 77384
      View Details
    • Value Estimation
      $585,000
      4,062 SF

      3020 College Park Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,062 SF
      3020 College Park Dr, The Woodlands, TX 77384-8002
      View Details
    • Value Estimation
      $850,000
      9,743 SF

      18310 Interstate 45th S

      RESTAURANT • 9,743 SF
      18310 Interstate 45th S, Shenandoah, TX 77384-4117
      View Details
    • Value Estimation by Request
      1,842 SF

      3081 College Park Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,842 SF
      3081 College Park Dr, The Woodlands, TX 77384-8022
      View Details
    • Value Estimation by Request
      3,352 SF

      3073 College Park Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,352 SF
      3073 College Park Dr, The Woodlands, TX 77384-8022
      View Details
    • Value Estimation by Request
      17,636 SF

      3707 College Park Dr

      Strip malls • 17,636 SF
      3707 College Park Dr, The Woodlands, TX 77384
      View Details

    Similar Nearby for Sale

    • $3,500,000
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      Drive-Thru Restaurant Built in 2015

      Drive-thru restaurant with four lanes and ample parking.
      3660 Fm 1488 Rd, Conroe, TX 77384
      View Details
    • Contact for pricing
      16,389 SF

      Former Showroom on Interstate 45

      16,389 SF showroom on 2.151 acres with I-45 visibility.
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      4,934 SF

      Conroe Estate with Stocked Pond

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      High-Traffic FM 1488 Land

      Land near I-45 and The Woodlands.
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      Conroe Land For Sale

      2.5 acres of land in Conroe, Texas for sale.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space for Lease

      Retail and restaurant spaces available for lease.
      3707 College Park Dr, Conroe, TX 77384
      View Details
    • $25 SF/Yr

      Retail Space for Lease

      Retail spaces available for lease with high traffic count.
      525 Woodland Square Blvd, Conroe, TX 77384
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    • $31 SF/Yr

      Retail Space For Lease

      Retail space available for lease, approximately 2,700 square feet.
      2400 Farm To Market Rd 1488, The Woodlands, TX 77384
      View Details
    • Contact for pricing
      20,000 SF

      Retail Space in Growing Area

      Retail space available in rapidly growing Conroe, Texas.
      2520 Fm 1488 Rd, Conroe, TX 77384
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Neighborhood center with high visibility and ample parking.
      525 Woodland Square Blvd, Conroe, TX 77384
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Retail and office spaces available for lease.
      3705 College Park Dr, The Woodlands, TX 77384
      View Details
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    Conroe, TX 77384-8002
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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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