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Property profile & analytics
FOR LEASE
Medical Office Space
3117 College Park Dr The Woodlands, TX 77384
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US83-2332612
For Lease
1 / 8
$1,640,000
3117 College Park Dr, The Woodlands, TX 77384
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2012
Total area
30,800 SF
Lot
1.88 ac (81,675 SF)
APN
9700-09-00201
UPID
US83-2332612
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
Current use
Occupant on record · 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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.11M
Blend (final)
Blend
$1.64M
Owner & transaction history
College Park Medical Properties LP · 2 yrs held
College Park Medical Properties LP
since 2024
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.5M
+13.5%
Retail stores
$2.3M
+6.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs The Woodlands submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs The Woodlands submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$1,175,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$1.64M
Range $1.48M – $1.80M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$53 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$90,887
Tax year 2024
Assessed value
$5,300,000
Assessed 2024
Previous assessed
$5,100,000
+3.9% YoY
Effective rate
1.71%
On assessed value
Assessed land
$1,306,800
Assessed improvement
$3,993,200
Land market value
$1,306,800
Improvement market value
$3,993,200
Total market value
$5,300,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2012
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Total area
30,800 SF
Lot
1.88 ac (81,675 SF)
APN
9700-09-00201
UPID
US83-2332612
Jurisdiction
MONTGOMERY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.5M
RETAIL STORES
Est. value
$2.3M
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2012
Heating
FORCED AIR
Cooling
Yes
Buildings
2
Lot
1.88 ac
Current owner
From public records · entity-resolved
College Park Medical Properties LP
Entity
Mailing address
2253 N LOOP 336TH C W STE C, CONROE, TX 77304-3630
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2024
—
College Park Medical Properties LP
College Park Land Investment I LLC
Deed
related
$5,000,000 · College Park Debt Fund LP
Nov 9, 2006
—
Woodlands Land Dev Co
1307 Dev Co INC
Grant Deed
related
—
Oct 3, 2005
—
242 Woodlands LLC
Woodlands Land Dev Co
Quit Claim Deed
related
$1,045,440 · Tradition Bank
—
—
College Park Land Investment I
—
Loan Modification
related
$4,133,089 · Whitney Bk
—
—
College Park Land Investment I
—
Deed Of Trust
related
$5,400,000 · Cibc
—
—
College Park Land Investment I
—
Loan Modification
related
$3,059,459 · Whitney Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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