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    3301 Davis St Conroe, TX 77304
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    Property profile & analytics

    3301 Davis St, Conroe, TX 77304

    View on Map
    • Lifestyle centers
    • 7,964 SF
    • 0.70 lot acres
    Off-Market
    Property ID
    US83-2316226
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Abana Health Pharmacy / Pharmacy
    • Texan Nutrition / (Bike/Boat/Book/etc) Store / Pharmacy
    • Tony Raica, MS, CCC-A / Physician
    • Meagan Guidry / Physician
    • Rana's Mexican Grill / Restaurant

    Property Details for 3301 Davis St

    Year built
    2006
    Lot size
    0.70 lot acres
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 31, 2025 — Rba Investments LLC Inoa LLC Warranty Deed —
    Mar 5, 2024 — Signad Ltd Inoa LLC Deed —
    Jul 6, 2020 — Inoa LLC — Deed · related $1.3M · Texan Bk
    Feb 14, 2017 — Inoa LLC Conroe Plaza LLC Deed $1.4M · Texan Bank NA

    Description

    Conroe Plaza, a 7,964 square foot shopping center in Conroe, Texas, is offered at $2,645,000. Built in 2006 on a 0.7-acre lot, this multi-tenant retail property boasts 100% occupancy with a strong tenant mix under a Net Net + lease structure. Located at 3301 W Davis St, 77304, it benefits from a prime location directly across from Conroe High School and situated on Conroe's main east-west thoroughfare, experiencing high daily vehicle traffic (218,529 VPD). The property enjoys proximity to a high-volume HEB grocery store (less than a mile away), attracting approximately 2.1 million annual visits. Significant upside potential exists due to a weighted average rent significantly below market value (over 20% below), with only 22% of the gross leasable area having options, and those at fair market value. The area demonstrates strong demographics, including a 22% population growth since 2020 and an average household income exceeding $116,444. The property features a new roof (installed in 2017) and minimal deferred maintenance, promising a stable and potentially lucrative investment opportunity. A 5-year compound annual growth rate of 5.54% further underscores the investment potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Conroe
    County
    Montgomery
    State
    Texas
    Longitude
    -95.4877353
    Latitude
    30.321336

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      Lake Conroe Unrestricted Waterfront Acreage

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      Highway Frontage Retail/Office Spaces

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      Conroe Freestanding Building Opportunity

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      Lake Conroe Unrestricted Waterfront Acreage

      Unrestricted waterfront acreage on Lake Conroe ideal for development.
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      Land Adjacent to Car Wash

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      Retail Development on Highway 105

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      Retail Space in Conroe Center

      Second-generation retail space in H-E-B anchored shopping center.
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      Retail Space in Conroe Center

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      Retail Space in Conroe, TX

      Retail location in master-planned Grand Central Park community.
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      Retail Space Available For Rent

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      New Conroe Office/Retail Space

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    Conroe, TX 77304
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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.

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