Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    500 Conroe Park W Dr Conroe, TX 77303-1931

    • Office buildings
    • 236,268 SF
    • 27.72 lot acres
    OFF-MARKET
    Last Sale
    Nov 17, 2021
    Value Estimations
    $1,585,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-2403661
    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

    • Reedhycalog L P / Oil Field Equipment Supplier

    Property Details for 500 Conroe Park W Dr

    Year built
    2006
    Lot size
    27.72 lot acres
    Property size
    236,268 SF
    Property type
    Office buildings
    APN
    3453-03-00501
    APU
    34530300501

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,585,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Conroe
    County
    Montgomery
    State
    Texas
    Longitude
    -95.4542
    Latitude
    30.3566
    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
    $708,833
    $3,018,370
    $34,208,600
    $37,226,970
    -
    $3,018,370
    $34,208,600
    $37,226,970

    Comparable in this City

    • Value Estimation
      $1,135,000
      27,200 SF

      100 Fm 3083rd E Rd

      OFFICE BUILDING • 27,200 SF
      100 Fm 3083rd E Rd, Conroe, TX 77303-2093
      View Details
    • Value Estimation
      $1,135,000
      51,100 SF

      750 Conroe Park N Dr

      OFFICE BUILDING • 51,100 SF
      750 Conroe Park N Dr, Conroe, TX 77303-2256
      View Details
    • Value Estimation
      $615,000
      4,080 SF

      10802 Fm 2432nd Rd

      OFFICE BUILDING • 4,080 SF
      10802 Fm 2432nd Rd, Conroe, TX 77303-2520
      View Details
    • Value Estimation
      $515,000
      4,080 SF

      10650 Fm 1484th Rd

      OFFICE BUILDING • 4,080 SF
      10650 Fm 1484th Rd, Conroe, TX 77303-4324
      View Details
    • Value Estimation
      $270,000
      390 SF

      10200 Dorbandt Rd

      OFFICE BUILDING • 390 SF
      10200 Dorbandt Rd, Conroe, TX 77303-2259
      View Details
    • Value Estimation
      $1,325,000
      115,661 SF

      600 Conroe Park N Dr

      OFFICE BUILDING • 115,661 SF
      600 Conroe Park N Dr, Conroe, TX 77303-2207
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,482 SF

      Conroe Office Building For Sale

      Office building with 19,482 square feet of space.
      1246 N Fm 3083 Rd W, Conroe, TX 77303
      View Details
    • $2,550,438
      11.70 Acres

      Conroe Industrial Land - $2.5M

      Prime Conroe land, industrial/commercial, owner financing.
      1326 Fm 3083 Rd, Conroe, TX 77303
      View Details
    • $400,000
      1.02 Acres

      Conroe Commercial Land - 1.02 Acres

      Prime Conroe location, development-ready land.
      10929 Fm 1484 Rd, Conroe, TX 77303
      View Details
    • Contact for pricing
      20.00 Acres

      Conroe Waterfront Commercial Land

      20-acre prime development site, I-45 access.
      0 I-45 & Plantation Dr, Conroe, TX 77303
      View Details
    • $275,000

      Unrestricted Acres in Conroe Corridor

      1.5 acres of unrestricted land in a high-growth area.
      10183 Conroe Dr, Conroe, TX 77303
      View Details
    • $3,300,000

      Expansive Land Near Conroe Airport

      59.1-acre property near Conroe Regional Airport with development potential.
      11522 Mockingbird Hl, Conroe, TX 77303
      View Details

    Similar Nearby for Lease

    • $3,742,500
      8,220 SF

      New Office Spaces in Conroe

      Brand new office spaces available for lease in Conroe, TX.
      2517 N Frazier St, Conroe, TX 77303
      View Details
    • $19 SF/Yr
      18,000 SF

      Loop 336 E Commercial Space

      Modern Conroe flex space, 18,000 sqft.
      1601 Loop 336, Conroe, TX 77303
      View Details
    • $3,000 /Mo
      2,450 SF

      Conroe Office/Warehouse Sublease Opportunity

      2,450 SF office/warehouse space available for sublease in Conroe.
      2418 N Frazier St, Conroe, TX 77303
      View Details
    • $3,677,500
      3,121 SF

      New Office/Warehouse Space in Conroe

      New office/warehouse space in a convenient business park location.
      2519 N Frazier St, Conroe, TX 77303
      View Details
    • $21 SF/Yr
      1,700 SF

      Conroe Office Space For Rent

      1,700 SF office space with included utilities and internet.
      3032 N Frazier St, Conroe, TX 77303
      View Details
    • $3,677,500
      4,026 SF

      Conroe Office Space For Lease

      Office space available in a convenient Conroe business park.
      2525 N Frazier St, Conroe, TX 77303
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    500 Conroe Park W Dr
    Conroe, TX 77303-1931
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.