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    4203 Red Bluff Rd Pasadena, TX 77503
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    Property profile & analytics

    4203 Red Bluff Rd, Pasadena, TX 77503

    View on Map
    • Community centers
    • 67,522 SF
    • 10.19 lot acres
    For Lease
    $1,590,000
    View Listing →
    Renovated Retail Space Available For Lease
    $1,590,000
    24,948 SF

    Renovated Retail Space Available

    Retail space in white box condition, available February 2025.

    4203 Red Bluff Road, Pasadena, TX 77503
    View Listing
    Property ID
    US83-2679455
    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

    • Oro Brasileño Y Plata / (Bike/Boat/Book/etc) Store
    • First Convenience Bank / Bank / Loan Service
    • Cavazos Natural Shop / Specialty Food Shop
    • Cricket Wireless Authorized Retailer / Mobile Phone Store / Electronics & Wireless Store
    • KeyMe Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store

    Property Details for 4203 Red Bluff Rd

    Year built
    2018
    Construction
    STEEL FRAME
    Lot size
    10.19 lot acres
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    572350170001
    APU
    572350170001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 23, 2016 — Park Deer Smith,jim R Grant Deed · related —
    Dec 11, 2008 — Park Deer Smith,jim R Grant Deed · related —
    — — Jim R Smith — Deed Of Trust · related $2.7M · Bank United Of Texas Fsb

    Description

    This exceptional single-tenant retail property, located at 4203 Red Bluff Rd in Pasadena, Texas, offers a substantial 24,948 square feet of versatile space. Situated in Harris County, with a convenient 77503 zip code, this building presents a unique opportunity for businesses seeking a prominent location. The property boasts a completely renovated interior, completed in 2022, ensuring modern and updated amenities for any tenant. The entire building is currently vacant, providing immediate occupancy for a prospective lessee. The single-tenant configuration offers complete control and flexibility for a single business. This prime retail space is ideally suited for a variety of uses, given its size and recent renovation. The property's location in Pasadena offers excellent access to major transportation routes, ensuring high visibility and convenient access for customers and employees. With its substantial square footage and modern updates, this property represents a rare opportunity to secure a significant retail presence in a thriving Texas market. The building's single-tenant status provides a streamlined and efficient operational environment. Interested parties are encouraged to inquire further to explore the possibilities this exceptional property offers. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,030,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.1474
    Latitude
    29.6806
    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
    $414,755
    $3,551,712
    $13,892,843
    $17,444,555
    -
    $3,551,712
    $13,892,843
    $17,444,555

    Comparable in this City

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    • Value Estimation
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    • Value Estimation
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    • Value Estimation by Request
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      SHOPPING CENTER, STRIP CENTER
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      Renovated Retail Space Available

      Retail space in white box condition, available February 2025.
      4203 Red Bluff Rd, Pasadena, TX 77503
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    View Listing
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    Pasadena, TX 77503
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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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