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

    3508 Pasadena Fwy Pasadena, TX 77503-1101

    • Office buildings
    • 19,865 SF
    • 4.16 lot acres
    OFF-MARKET
    Value Estimations
    $1,120,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2429577
    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

    • Dr. Erin O. Best, MD / Doctor
    • Chavarria Jaime MD / Internist
    • Pasadena Clinic / Medical Clinic
    • Tellepsen / General Contractor

    Property Details for 3508 Pasadena Fwy

    Year built
    1982
    Construction
    BRICK
    Lot size
    4.16 lot acres
    Property size
    19,865 SF
    Property type
    Office buildings
    APN
    402180030081
    APU
    402180030081

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,210,000
      Current use
      RESTAURANT
      $1,700,000
      Change: +41% Conversion: Moderate
      RETAIL STORES
      $1,500,000
      Change: +24% Conversion: Moderate
      MEDICAL BUILDING
      $1,445,000
      Change: +20% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,185,000
      Change: -2% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,040,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.1608
    Latitude
    29.7109
    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
    2022
    $106,909
    $1,316,704
    $3,183,296
    $4,500,000
    -
    $1,316,704
    $3,183,296
    $4,500,000

    Comparable in this City

    • Value Estimation
      $2,085,000
      92,000 SF

      3737 Red Blf Rd

      OFFICE BUILDING • 92,000 SF
      3737 Red Blf Rd, Pasadena, TX 77503-3307
      View Details
    • Value Estimation
      $510,000
      9,000 SF

      2150 Alabama St

      OFFICE BUILDING • 9,000 SF
      2150 Alabama St, Pasadena, TX 77503
      View Details
    • Value Estimation by Request
      4,030 SF

      5001 Oak Ave

      OFFICE BUILDING • 4,030 SF
      5001 Oak Ave, Pasadena, TX 77503-3718
      View Details
    • Value Estimation by Request
      2,520 SF

      5318 Pne Ave

      OFFICE BUILDING • 2,520 SF
      5318 Pne Ave, Pasadena, TX 77503-3940
      View Details
    • Value Estimation by Request
      3,425 SF

      3113 Red Blf Rd

      OFFICE BUILDING • 3,425 SF
      3113 Red Blf Rd, Pasadena, TX 77503-2611
      View Details
    • Value Estimation
      $640,000
      10,941 SF

      4100 13th

      OFFICE BUILDING • 10,941 SF
      4100 13th, Pasadena, TX 77503
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      85,530 SF

      Beltway Office Park: Pasadena, TX

      85,530 SF Executive Office Building, 100% Occupied
      3737-3743 Red Bluff Rd, Pasadena, TX 77503
      View Details
    • $155,000

      Pasadena Land For Sale

      Land available for sale in Pasadena, Texas.
      Red Bluff Rd, Pasadena, TX 77503
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    • $1,315,000

      Unrestricted Land with Beltway Access

      1.415 acre unrestricted lot accessible from Beltway 8.
      2710 Oleander Dr, Pasadena, TX 77503
      View Details
    • $299,900

      Updated Duplex with New Amenities

      Updated duplex featuring new windows, plumbing, and central air.
      3514 Mattye Maye Dr, Pasadena, TX 77503
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    • $549,999
      1.95 Acres

      Pasadena Commercial Land Investment

      1.95 Acres, Prime Development Site
      3200 Pasadena Blvd, Pasadena, TX 77503
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    • Contact for pricing
      139,655 SF

      Pasadena Logistics Center: Class A Distribution Space

      139,655 SF Warehouse, Excellent Access
      5176 Red Bluff Rd, Pasadena, TX 77503
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      1,071 SF

      Office Space with Strong Tenants

      Fully occupied office space with credit tenants and growth potential.
      3737-3743 Red Bluff Rd, Pasadena, TX 77503
      View Details
    • $12 SF/Yr
      24,948 SF

      Prime Pasadena Retail Space

      24,948 SF Retail Building - Available Now
      4203 Red Bluff Rd, Pasadena, TX 77503
      View Details
    • $14 SF/Yr
      13,027 SF

      Prime Pasadena Retail Space

      1,200 SF Retail Space - High Visibility
      4307 Red Bluff Rd, Pasadena, TX 77503
      View Details
    • $9 SF/Yr
      24,200 SF

      Red Bluff Plaza Retail Space

      Pasadena Retail Center, Multiple Units Available
      3603 Red Bluff Rd, Pasadena, TX 77503
      View Details
    • Contact for pricing
      355,071 SF

      Pasadena Distribution Warehouse For Rent

      355,071 SF distribution warehouse with cross-dock configuration available for lease.
      307 Beltway Green Blvd, Pasadena, TX 77503
      View Details
    • Contact for pricing

      Pasadena Industrial Property Available

      Industrial property available for lease in Pasadena, Texas.
      1485 East Sam Houston Pkwy South, Pasadena, TX 77503
      View Details
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    3508 Pasadena Fwy
    Pasadena, TX 77503-1101
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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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