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    3101 Spencer Hwy, Unit 321 Pasadena, TX 77504-1165
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    Property profile & analytics

    3101 Spencer Hwy, Unit 321, Pasadena, TX 77504-1165

    View on Map
    • Garden apartment buildings
    • 17,314 SF
    • 11.24 lot acres
    Off-Market
    Property ID
    US83-4116188
    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
    $1,125,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Parkside Place Apartments / Apartment Complex

    Property Details for 3101 Spencer Hwy

    Year built
    1969
    Construction
    BRICK
    Lot size
    11.24 lot acres
    Property type
    Garden apartment buildings
    APN
    461970000003
    APU
    461970000003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 6, 2020 — Keener Parkside LLC — Deed · related $22.4M · Cbre Cap Markets
    Jul 14, 2017 — Keener Parkside LLC Oro Aii Parkside LLC Trustees Deed $17.7M · Bancorp Bk
    Oct 28, 2014 — Oro Aii Parkside LLC Pspa Investments LLC Grant Deed $12.2M · Greystone Svcg
    Jul 2, 2007 — Pspa Investments LLC Juniper Spencer Highway Ltd Grant Deed $7.6M · Arbor Commercial Funding LLC
    Mar 1, 1999 — Kg Associates Parkside INC Gupta,kristine K Grant Deed · related —
    — — Keener Parkside LLC — Deed Of Trust · related $22.4M · Cbre Cap Markets

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,124,000
      Market price range: $645k - $1.38M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,125,000
      Current use
      COMMERCIAL (GENERAL)
      $1,590,000
      Change: +41% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,525,000
      Change: +36% Conversion: Difficult
      RESTAURANT
      $1,485,000
      Change: +32% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,130,000
      Change: +0% Conversion: Difficult
      RETAIL STORES
      $1,080,000
      Change: -4% Conversion: Difficult
      OFFICE BUILDING
      $1,055,000
      Change: -6% Conversion: Moderate
      MEDICAL BUILDING
      $1,025,000
      Change: -9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.1963
    Latitude
    29.6661
    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
    2022
    $196,214
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $550,000
      4,776 SF

      3230 Burke Rd, Unit 28

      GARDEN APT, COURT APT (5+ UNITS)
      3230 Burke Rd, Pasadena, TX 77504-1802
      View Details
    • Value Estimation
      $750,000
      12,000 SF

      3200 Federal Rd, Unit 116

      GARDEN APT, COURT APT (5+ UNITS)
      3200 Federal Rd, Pasadena, TX 77504-1771
      View Details
    • Value Estimation
      $805,000
      13,632 SF

      4210 Young St, Unit 60

      GARDEN APT, COURT APT (5+ UNITS)
      4210 Young St, Pasadena, TX 77504-2958
      View Details
    • Value Estimation
      $1,280,000
      44,096 SF

      4343 Shaver St, Unit 170

      GARDEN APT, COURT APT (5+ UNITS)
      4343 Shaver St, Pasadena, TX 77504-2659
      View Details
    • Value Estimation
      $1,235,000
      14,037 SF

      3635 Shaver St, Unit 300

      GARDEN APT, COURT APT (5+ UNITS)
      3635 Shaver St, Pasadena, TX 77504-1332
      View Details
    • Value Estimation
      $1,445,000
      16,112 SF

      3520 Burke Rd, Unit 144

      GARDEN APT, COURT APT (5+ UNITS)
      3520 Burke Rd, Pasadena, TX 77504-2368
      View Details

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      6,300 SF

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      Multi-building property with office and warehouse space for lease.
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      Retail Space Available For Rent

      Retail spaces available, ranging from 1,800 to 43,560 SqFt.
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      Retail space suitable for clinics, salons, or specialty shops.
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      Retail Space Near Bayshore Hospital

      Retail space suitable for medical, salon, restaurant, or office use.
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      Modern Pasadena Medical/Office Space

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    Pasadena, TX 77504-1165
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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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