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Property profile & analytics
FOR LEASE
Medical Office Space
4001 Preston Ave Pasadena, TX 77505
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-4558538
For Lease
$4,055,000
4001 Preston Ave, Pasadena, TX 77505
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1992
Construction
BRICK
Total area
38,384 SF
Lot
4.69 ac (204,222 SF)
APN
470850000019
UPID
US82-4558538
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
-
Oceans Behavioral Hospital Pasadena Hospital
-
Fondren Orthopedic Group LLP Medical Clinic
-
Bayside Medical Center Medical Clinic
-
Chi st lukes billing office Hospital
-
Psych Management Solutions Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.78M
Blend (final)
Blend
$4.06M
Owner & transaction history
Oceans Behavioral Hosp Of Pasaden · 6 yrs held
Oceans Behavioral Hosp Of Pasaden
since 2019
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.2M
+83.6%
Auto repair, garage
$3.3M
+13.7%
Restaurant
$3.1M
+9.8%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,860,000
Current use
COMMERCIAL (GENERAL)
$5,245,000
Change: +84% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,250,000
Change: +14% · Conversion: Difficult
RESTAURANT
$3,140,000
Change: +10% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,590,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$4.06M
Range $3.65M – $4.46M · ±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
$106 / 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
$121,273
Tax year 2022
Assessed value
$9,870,633
Assessed 2024
Previous assessed
$10,667,949
-7.5% YoY
Effective rate
1.23%
On assessed value
Assessed land
$2,042,230
Assessed improvement
$7,828,403
Land market value
$2,042,230
Improvement market value
$7,828,403
Total market value
$9,870,633
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1992
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
38,384 SF
Lot
4.69 ac (204,222 SF)
APN
470850000019
UPID
US82-4558538
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
MEDICAL BUILDING Current
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$5.2M
AUTO REPAIR, GARAGE
Est. value
$3.3M
RESTAURANT
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1992
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
4.69 ac
Current owner
From public records · entity-resolved
Oceans Behavioral Hosp Of Pasaden
Individual
Mailing address
14400 METCALF AVE, OVERLAND PARK, KS 66223-2989
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2019
—
Oceans Behavioral Hosp Of Pasaden
—
Grant Deed
related
$47,500,000 · Crestline Direct Fin LP
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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