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Property profile & analytics
OFF-MARKET
Estimated value
$1,110,000
Strip malls
3800 Spencer Hwy Pasadena, TX 77504-1251
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-2982867
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1981
Construction
STEEL FRAME
Total area
33,889 SF
Lot
4.51 ac (196,277 SF)
APN
461270000076
UPID
US82-2982867
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
-
M Massage Alternative Medicine Practice Spa & Massage Center
-
Absolute Hair Hair Salon Nail Salon
-
SMOKEY DAQ - SMOKE SHOP-DAIQUIRI - Beer - Wine - Fast Food (Bike/Boat/Book/etc) Store
-
Kelly Pupuseria Restaurant
-
Smokey Daq (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$880k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$1.11M
Owner & transaction history
Farah 1 International LLC · 9 yrs held
Farah 1 International LLC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pasadena 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
$880,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,120,000
Current use
Blend value · Realmo final
$1.11M
Range $999k – $1.22M · ±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
$33 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$58,436
Tax year 2022
Assessed value
$5,292,399
Assessed 2024
Previous assessed
$5,140,378
+3.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$1,570,216
Assessed improvement
$3,722,183
Land market value
$1,570,216
Improvement market value
$3,722,183
Total market value
$5,292,399
Applied tax rate
21.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
33,889 SF
Lot
4.51 ac (196,277 SF)
APN
461270000076
UPID
US82-2982867
Jurisdiction
HARRIS
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
4.51 ac
Current owner
From public records · entity-resolved
Farah 1 International LLC
Entity
Mailing address
230 CHATHAM AVE, SUGAR LAND, TX 77479-6719
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 23, 2016
—
Farah 1 International LLC
York Realty Investment LLC
Warranty Deed
$6,062,000 · Allegiance Bk
Sep 18, 2012
—
York Realty Investment LLC
Weingarten Rlty Invtrs
Grant Deed
$3,500,000 · Third Coast Bk Ssb
—
—
York Realty Investment LLC
—
Loan Modification
related
$3,083,784 · Third Coast Bk Ssb
—
—
York Realty Investment LLC
—
Loan Modification
related
$297,902 · Third Coast Bk Ssb
—
—
York Realty Investment LLC
—
Deed Of Trust
related
$500,000 · Third Coast Bk Ssb
—
—
York Realty Investment LLC
—
Loan Modification
related
$3,500,000 · Third Coast Bank Ssb
—
—
York Realty Investment LLC
—
Loan Modification
related
$3,500,000 · Third Coast Bank Ssb
—
—
York Realty Investment LLC
—
Deed Of Trust
related
$350,000 · Third Coast Bank Ssb
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.
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