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    3091 College Park Dr The Woodlands, TX 77384-8023
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    Property profile & analytics

    3091 College Park Dr, The Woodlands, TX 77384-8023

    View on Map
    • Retail space
    • 70,400 SF
    • 9.19 lot acres
    Off-Market
    Property ID
    US83-2332595
    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
    $8,400,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 3091 College Park Dr

    Year built
    2003
    Construction
    CONCRETE BLOCKS
    Lot size
    9.19 lot acres
    Property type
    Retail space
    APN
    9700-09-00140
    APU
    97000900140

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 22, 2023 — Lmr II College Park Plaza LLC Ch Realty Vii R Houston College Par Special Warranty Deed —
    Feb 10, 2017 — Ch Realty Viir Houston College Park 3901 Cp Group I LLC Special Warranty Deed —
    Dec 7, 2007 — Cp Private Invtr Xxvii 3091 3091 Cp Group I LLC Quit Claim Deed · related —
    Jun 13, 2007 — 3091 Cp Group I LLC Hsmep College Park Grant Deed $13.2M · Lasalle National Bank
    Jan 20, 2005 — Hsmep College Park College Park Partners Quit Claim Deed · related $9.7M · Wachovia Bank NA

    Description

    College Park Plaza, a thriving retail center, presents a unique leasing opportunity within The Woodlands Medical Corridor. Strategically located at the intersection of FM 242 and I-45, this property boasts exceptional visibility and accessibility. The center benefits from its proximity to four major hospitals: MD Anderson, St. Luke's Health, Texas Children's Hospital, and Houston Methodist The Woodlands, ensuring a substantial and consistent customer base. Annual visitor counts exceed 485,400, according to Placer.ai data. The property features convenient access points, including a lighted main entrance and two additional entry points, enhancing customer flow. A prominent pylon sign provides excellent branding opportunities. The expansive 38,222 square feet of green space offers potential for a pad site development or community gathering area. This prime location is further supported by a daytime population exceeding 139,000 within a five-mile radius, making College Park Plaza an ideal investment for businesses seeking high visibility and a strong customer demographic. The property is available for lease and offers a compelling opportunity to establish a successful retail presence in a rapidly growing medical corridor.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $9,149,000
      Market price range: $2.40M - $9.15M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,315,000
      Current use
      COMMERCIAL (GENERAL)
      $10,940,000
      Change: +106% Conversion: Easy
      RESTAURANT
      $8,380,000
      Change: +58% Conversion: Easy
      WAREHOUSE, STORAGE
      $6,650,000
      Change: +25% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $6,385,000
      Change: +20% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,280,000
      Change: +18% Conversion: Difficult
      OFFICE BUILDING
      $5,645,000
      Change: +6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    The Woodlands
    County
    Montgomery
    State
    Texas
    Longitude
    -95.4631
    Latitude
    30.2053
    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
    $224,168
    $7,208,832
    $10,308,989
    $17,517,821
    -
    $7,208,832
    $10,308,989
    $17,517,821

    Comparable in this City

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      15,080 SF

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      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation by Request
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    • Value Estimation
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      13,936 SF

      5327 Fm 1488

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $1,185,000
      9,556 SF

      3099 College Park Dr

      RETAIL STORES (PERSONAL SERVICES)
      3099 College Park Dr, Conroe, TX 77384-8022
      View Details
    • Value Estimation by Request
      2,500 SF

      4800 Fm 1488th Rd

      RETAIL STORES (PERSONAL SERVICES)
      4800 Fm 1488th Rd, Conroe, TX 77384-3960
      View Details
    • Value Estimation
      $1,140,000
      9,020 SF

      3026 College Park Dr

      RETAIL STORES (PERSONAL SERVICES)
      3026 College Park Dr, Conroe, TX 77384-8005
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,389 SF

      Former Showroom on Interstate 45

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    • $3,500,000
      4,391 SF

      Drive-Thru Restaurant Built in 2015

      Drive-thru restaurant with four lanes and ample parking.
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      Prime Land Near The Woodlands

      6.11 acres of land near The Woodlands and I-45.
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      Conroe Estate with Stocked Pond

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      Conroe Land For Sale

      2.5 acres of land in Conroe, Texas for sale.
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      High-Traffic FM 1488 Land

      Land near I-45 and The Woodlands.
      332 Fm 1488 Rd, Conroe, TX 77384
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Retail Space in The Woodlands

      Retail space available for lease in The Woodlands, Texas.
      3776 Fm 1488 Rd, The Woodlands, TX 77384
      View Details
    • $31 SF/Yr
      2,700 SF

      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
    • $32 SF/Yr

      Retail Center on FM 1488

      New construction retail center with endcap suites available for lease.
      3776 Farm To Market Rd 1488, 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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    The Woodlands, TX 77384-8023
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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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