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    3117 College Park Dr Conroe, TX 77384

    • Medical Office Space
    • 30,800 SF
    • 1.88 lot acres
    For Lease
    View listing
    Value Estimations
    $1,640,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-2332612
    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.

    Current Use by Public Records

    • Texas Sinus, Allergy, Snoring and Sleep Institute / Physician
    • Dr Robert Talac / Physician
    • One Step Diagnostic - Woodlands / Medical Clinic
    • Umang Khetarpal / Physician
    • 3117 College Park / Medical Clinic

    Property Details for 3117 College Park Dr

    Year built
    2012
    Lot size
    1.88 lot acres
    Property size
    30,800 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    9700-09-00201
    APU
    97000900201

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,175,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,108,000
      Market price range: $1.05M - $3.23M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,175,000
      Current use
      OFFICE BUILDING
      $2,470,000
      Change: +13% Conversion: Easy
      RETAIL STORES
      $2,325,000
      Change: +7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Conroe
    County
    Montgomery
    State
    Texas
    Longitude
    -95.4659
    Latitude
    30.2059
    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
    $90,887
    $1,306,800
    $3,993,200
    $5,300,000
    -
    $1,306,800
    $3,993,200
    $5,300,000

    Comparable in this City

    • Value Estimation
      $545,000
      9,456 SF

      114 Vision Park Blvd

      MEDICAL BUILDING • 9,456 SF
      114 Vision Park Blvd, Shenandoah, TX 77384-3014
      View Details
    • Value Estimation by Request
      2,676 SF

      15720 Kuykendahl Ct

      MEDICAL BUILDING • 2,676 SF
      15720 Kuykendahl Ct, Conroe, TX 77384-3560
      View Details
    • Value Estimation
      $2,695,000
      42,316 SF

      17191 St Lukes Way

      MEDICAL BUILDING • 42,316 SF
      17191 St Lukes Way, The Woodlands, TX 77384-8042
      View Details
    • Value Estimation
      $2,895,000
      58,076 SF

      111 Vision Park Blvd

      MEDICAL BUILDING • 58,076 SF
      111 Vision Park Blvd, Shenandoah, TX 77384-3002
      View Details
    • Value Estimation
      $3,880,000
      83,715 SF

      129 Vision Park Blvd

      MEDICAL BUILDING • 83,715 SF
      129 Vision Park Blvd, Shenandoah, TX 77384-3023
      View Details
    • Value Estimation
      $600,000
      6,866 SF

      101 Vision Park Blvd

      MEDICAL BUILDING • 6,866 SF
      101 Vision Park Blvd, Shenandoah, TX 77384-3012
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      75,000 SF

      Shenandoah Office/Medical Building Near Woodlands

      75,000 SF office/medical building near The Woodlands hospitals.
      128 Vision Park Blvd, Conroe, TX 77384
      View Details
    • Contact for pricing

      Class A Medical Office Building

      Class A medical office building in The Woodlands area.
      18354 I-45 S, Conroe, TX 77384
      View Details
    • Contact for pricing
      13,118 SF

      Retail Building with I-45 Frontage

      13,118 SF retail building with I-45 frontage, for sale/lease.
      15102 Interstate 45, Conroe, TX 77384
      View Details
    • $4,299,000
      2.00 Acres

      Loop 336 Commercial Land

      Conroe, TX development opportunity
      2 Acres Loop, Conroe, TX 77384
      View Details
    • $10,545,400

      Unrestricted Land Near Woodlands Schools

      Large unrestricted tract near Woodlands schools with future road expansion.
      14051 Old Conroe Rd, Conroe, TX 77384
      View Details
    • Contact for pricing

      Conroe Land for Sale

      10.105 acres of commercial land with easy access.
      336 Loop Rd North, Conroe, TX 77384
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      2,000 SF

      College Park Medical Office Condo

      Conroe, TX Medical Office - 2,000 SF
      3115 College Park Dr, Conroe, TX 77384
      View Details
    • Contact for pricing
      96,853 SF

      Medical Arts Center III: Woodlands

      Class A Medical Office Space Available
      17450 Saint Lukes Way, The Woodlands, TX 77384
      View Details
    • $24 SF/Yr
      40,382 SF

      College Park Medical Office Building

      The Woodlands Medical Office Space Available
      17191 St Lukes Way, The Woodlands, TX 77384
      View Details
    • $24 SF/Yr
      1,250 SF

      The Woodlands Medical Office Suite

      1,250 SF Medical Office Condo, Texas
      150 Pne Frst Dr, Shenandoah, TX 77384
      View Details
    • Contact for pricing
      47,747 SF

      Class A Medical Office Space in Conroe, TX

      Modern Medical Office Suites Available for Lease
      18354 I-45, Panorama Village, TX 77384
      View Details
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    Conroe, TX 77384
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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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