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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    320 Richey St Pasadena, TX 77506-1804

    • Warehouses
    • 9,300 SF
    • 7.73 lot acres
    OFF-MARKET
    Value Estimations
    $735,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0834500
    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

    • Sunbelt Rentals / Equipment Rental Agency

    Property Details for 320 Richey St

    Year built
    2010
    Construction
    METAL FRAME
    Lot size
    7.73 lot acres
    Property size
    9,300 SF
    Property type
    Warehouses
    APN
    281800000007
    APU
    281800000007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $580,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $894,000
      Market price range: $365k - $894k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $610,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $835,000
      Change: +37% Conversion: Difficult
      MEDICAL BUILDING
      $675,000
      Change: +11% Conversion: Difficult
      OFFICE BUILDING
      $560,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.2215
    Latitude
    29.7075
    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
    2023
    $34,316
    $1,010,157
    $1,864,430
    $2,874,587
    -
    $1,010,157
    $1,864,430
    $2,874,587

    Comparable in this City

    • Value Estimation
      $515,000
      6,250 SF

      121 Bearle St

      WAREHOUSE, STORAGE • 6,250 SF
      121 Bearle St, Pasadena, TX 77506-2821
      View Details
    • Value Estimation
      $360,000
      2,100 SF

      112 Charles St

      WAREHOUSE, STORAGE • 2,100 SF
      112 Charles St, Pasadena, TX 77506-1104
      View Details
    • Value Estimation
      $265,000
      1,256 SF

      1705 Thomas Ave

      WAREHOUSE, STORAGE • 1,256 SF
      1705 Thomas Ave, Pasadena, TX 77506-3044
      View Details
    • Value Estimation
      $240,000
      3,440 SF

      1106 Wafer St

      WAREHOUSE, STORAGE • 3,440 SF
      1106 Wafer St, Pasadena, TX 77506-4638
      View Details
    • Value Estimation by Request
      5,253 SF

      805 Shaver St

      WAREHOUSE, STORAGE • 5,253 SF
      805 Shaver St, Pasadena, TX 77506-3425
      View Details
    • Value Estimation by Request
      768 SF

      1105 Spooner St

      WAREHOUSE, STORAGE • 768 SF
      1105 Spooner St, Pasadena, TX 77506-4516
      View Details

    Similar Nearby for Sale

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      9,200 SF

      Office/Warehouse with Workshop in Pasadena

      Office, warehouse, and workshop space available in Pasadena, Texas.
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      Pasadena Industrial Property For Sale

      Industrial property available for purchase in Pasadena, Texas.
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      High-visibility industrial building with showroom and signage opportunity.
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    • $5,900,000
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      Burke Self Storage: Pasadena, TX

      601-unit self-storage facility; value-add opportunity.
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    • $35,000,000
      341.00 Acres

      Prime Pasadena Industrial Land

      341 Acres, $35M, High Demand
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    Similar Nearby for Lease

    • $0.85 SF/Yr
      13,093 SF

      Pasadena Warehouse Space Available

      13,093 square foot warehouse space for lease in Pasadena.
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      View Details
    • Contact for pricing
      15,120 SF

      1021 Jackson Ave

      Distribution properties • 15,120 SF
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      View Details
    • Contact for pricing
      91,495 SF

      Prime Pasadena Cold Storage Facility

      Modern Cold Storage Warehouse - 91,495 SF Available
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    • Contact for pricing
      24,365 SF

      Pasadena Retail Center - Prime Location

      24,365 SF Retail Space, High Traffic Area
      2127 Southmore Ave, Pasadena, TX 77506
      View Details
    • $19 SF/Yr
      2,531 SF

      Retail Space in Shaver Center

      Retail spaces available in neighborhood shopping center anchored by Family Dollar.
      901 Shaver St, Pasadena, TX 77506
      View Details
    • $449,999
      1,444 SF

      Updated Retail Space Available

      Recently updated retail space in a busy location.
      901 W Hart Ave, Pasadena, TX 77506
      View Details
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    320 Richey St
    Pasadena, TX 77506-1804
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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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