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

    3601 Fm 1488th Rd Conroe, TX 77384-3943

    • Grocery and convenience stores
    • 198 SF
    • 13.45 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-2381769
    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

    • H-E-B fresh market / Grocery & Convenience Store / Food Market
    • P L Nail Spa / Nail Salon

    Property Details for 3601 Fm 1488th Rd

    Year built
    2011
    Construction
    FRAME
    Lot size
    13.45 lot acres
    Property size
    198 SF
    Property type
    Grocery and convenience stores
    APN
    9693-07-00100
    APU
    96930700100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Conroe
    County
    Montgomery
    State
    Texas
    Longitude
    -95.5197
    Latitude
    30.2264
    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
    2024
    $174,343
    $7,471,759
    $3,027,661
    $10,499,420
    -
    $7,471,759
    $3,027,661
    $10,499,420

    Comparable in this City

    • Value Estimation
      $535,000
      5,600 SF

      3710 Fm 1488th Rd

      CONVENIENCE STORE • 5,600 SF
      3710 Fm 1488th Rd, Conroe, TX 77384-3914
      View Details
    • Value Estimation
      $6,045,000
      206,872 SF

      3040 College Park Dr

      GROCERY, SUPERMARKET • 206,872 SF
      3040 College Park Dr, The Woodlands, TX 77384-8002
      View Details
    • Value Estimation by Request
      3,080 SF

      3000 College Park Dr

      CONVENIENCE STORE • 3,080 SF
      3000 College Park Dr, Conroe, TX 77384-8002
      View Details
    • Value Estimation
      $1,990,000
      15,080 SF

      3759 Fm 1488th Rd

      RETAIL STORES (PERSONAL SERVICES) • 15,080 SF
      3759 Fm 1488th Rd, Conroe, TX 77384-3994
      View Details
    • Value Estimation by Request
      1,920 SF

      14083 Horseshoe Bnd

      RETAIL STORES (PERSONAL SERVICES) • 1,920 SF
      14083 Horseshoe Bnd, Conroe, TX 77384-3519
      View Details
    • Value Estimation by Request
      13,118 SF

      15102 Interstate 45

      Individual retail properties • 13,118 SF
      15102 Interstate 45, Conroe, TX 77384
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,118 SF

      Retail Showroom on I-45 Frontage

      13,118 SF retail building with I-45 frontage, for sale/lease.
      15102 Interstate 45, Conroe, TX 77384
      View Details
    • Contact for pricing
      13,118 SF

      Retail Building with I-45 Frontage

      13,118 SF retail building with I-45 frontage, for sale/lease.
      15102 Interstate 45, Conroe, TX 77384
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    • $4,299,000
      2.00 Acres

      Loop 336 Commercial Land

      Conroe, TX development opportunity
      2 Acres Loop, Conroe, TX 77384
      View Details
    • $10,545,400

      Unrestricted Land Near Woodlands Schools

      Large unrestricted tract near Woodlands schools with future road expansion.
      14051 Old Conroe Rd, Conroe, TX 77384
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    • $5,499,940

      Conroe Land for Sale

      10.105 acres of commercial land with easy access.
      336 Loop Rd North, Conroe, TX 77384
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    • Contact for pricing
      75,000 SF

      Shenandoah Office/Medical Building Near Woodlands

      75,000 SF office/medical building near The Woodlands hospitals.
      128 Vision Park Blvd, Conroe, TX 77384
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    Similar Nearby for Lease

    • $12 SF/Yr
      13,118 SF

      Prime I-45 Retail Space in Shenandoah

      13,118 SF Free-Standing Building, High Visibility
      15102 Interstate 45, Conroe, TX 77384
      View Details
    • $31 SF/Yr
      32,588 SF

      Retail Space For Lease

      Retail space available for lease, approximately 2,700 square feet.
      2400 Farm To Market Rd, The Woodlands, TX 77384
      View Details
    • $27 SF/Yr
      43,044 SF

      Retail Space for Lease

      Retail spaces available for lease with high traffic count.
      525 Woodland Sq Blvd, Conroe, TX 77384
      View Details
    • $32 SF/Yr
      11,000 SF

      Retail Center on FM 1488

      New construction retail center with endcap suites available for lease.
      3776 Farm To Market Rd, Conroe, TX 77384
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    • Contact for pricing
      17,636 SF

      College Park Crossing Retail Space

      Prime Woodlands retail center, divisible suites.
      3707 College Park Dr, The Woodlands, TX 77384
      View Details
    • $384 /Mo
      77,274 SF

      Conroe Office Space: 3,539 SF Available

      Prime Conroe office space, high traffic, immediate occupancy.
      525 Woodland Square Blvd, Conroe, TX 77384
      View Details
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    Conroe, TX 77384-3943
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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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