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Property profile & analytics
FOR LEASE
Medical Office Space
3251 Interstate 45 N Conroe, TX 77304
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US83-2467361
For Lease
$1,525,000
3251 Interstate 45 N, Conroe, TX 77304
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2011
Total area
24,919 SF
Lot
1.75 ac (76,230 SF)
APN
9217-00-00104
UPID
US83-2467361
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
-
Adrienne Conroy, DO Pediatrician Physician
-
James Elwood Baker Pediatrician Physician
-
Nicholas S Morgan, MD Physician
-
Cole Atkinson, NP Physician
-
Texas Commercial Concrete Services Conroe Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.97M
Blend (final)
Blend
$1.53M
Owner & transaction history
Conroe Mp Rk6 LLC · 4 yrs held
Conroe Mp Rk6 LLC
since 2022
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.3M
+28.3%
Auto repair, garage
$2.2M
+26.2%
Office building
$2.0M
+13.5%
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 Conroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conroe 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
$1,080,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,760,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,260,000
Change: +28% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,225,000
Change: +26% · Conversion: Difficult
OFFICE BUILDING
$2,000,000
Change: +13% · Conversion: Easy
RETAIL STORES
$1,880,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,455,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.53M
Range $1.37M – $1.68M · ±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
$61 / 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
$101,629
Tax year 2024
Assessed value
$4,950,000
Assessed 2024
Previous assessed
$5,200,000
-4.8% YoY
Effective rate
2.05%
On assessed value
Assessed land
$914,760
Assessed improvement
$4,035,240
Land market value
$914,760
Improvement market value
$4,035,240
Total market value
$4,950,000
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
2011
Heating
FORCED AIR
Cooling
CENTRAL
Total area
24,919 SF
Lot
1.75 ac (76,230 SF)
APN
9217-00-00104
UPID
US83-2467361
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
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.5M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
2011
Heating
FORCED AIR
Cooling
Yes
Lot
1.75 ac
Current owner
From public records · entity-resolved
Conroe Mp Rk6 LLC
Entity
Mailing address
800 W MADISON ST STE #400, CHICAGO, IL 60607-2481
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2022
—
Conroe Mp Rk6 LLC
Medproperties Conroe LLC
Special Warranty Deed
$262,352,622 · Capital One NA
Sep 15, 2017
—
Medproperties Conroe LLC
Fs Conroe LLC
Warranty Deed
—
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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