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    Property profile & analytics

    5701 Red Blf Rd Pasadena, TX 77505-2640

    • Retail space
    • 2,310 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Dec 18, 2024
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    9.6%
    Retail space
    Location Intelligence
    Property ID
    US82-0350686
    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

    • Casa De Restauracion / Hispanic Church

    Property Details for 5701 Red Blf Rd

    Year built
    1999
    Construction
    METAL FRAME
    Lot size
    0.31 lot acres
    Property size
    2,310 SF
    Property type
    Retail space
    APN
    791570060068
    APU
    791570060068

    Description

    This exceptional 2,310-square-foot freestanding retail storefront is located at 5701 Red Bluff Road, Pasadena, Texas, 77505. Built in 1999 and renovated in 2016, this single-story building sits on a 13,600-square-foot lot and boasts 100% occupancy. Its prime location at the corner of Red Bluff Road and Lance Avenue offers unparalleled visibility and accessibility, with close proximity to major thoroughfares like Spencer Highway and Beltway 8 (less than 2 miles away). The high traffic count is further enhanced by its strategic placement near numerous major retailers, including Dollar Tree, Big Lots, Kroger, LA Fitness, NextCare Urgent Care, Wells Fargo Bank, and Chase Bank. The property's asking price is $495,000, translating to $214.29 per square foot. This presents a compelling investment opportunity in a thriving retail corridor. The property features one unit and is zoned N/A. Please note: Do not disturb the existing church, its employees, or visitors.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $455,000
      6.5%
      $420,000
      7%
      $390,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.1308
    Latitude
    29.6614
    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
    2023
    $0.00
    $81,600
    $259,056
    $340,656
    -
    $81,600
    $259,056
    $340,656

    Comparable in this City

    • Value Estimation
      $370,000
      7,526 SF

      7333 Fairmont Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 7,526 SF
      7333 Fairmont Pkwy, Pasadena, TX 77505-4620
      View Details
    • Value Estimation
      $315,000
      5,256 SF

      5125 Spencer Hwy

      RETAIL STORES (PERSONAL SERVICES) • 5,256 SF
      5125 Spencer Hwy, Pasadena, TX 77505
      View Details
    • Value Estimation
      $365,000
      7,168 SF

      7438 Spencer Hwy

      RETAIL STORES (PERSONAL SERVICES) • 7,168 SF
      7438 Spencer Hwy, Pasadena, TX 77505-1836
      View Details
    • Value Estimation
      $380,000
      7,897 SF

      7300 Spencer Hwy

      RETAIL STORES (PERSONAL SERVICES) • 7,897 SF
      7300 Spencer Hwy, Pasadena, TX 77505-1810
      View Details
    • Value Estimation
      $280,000
      8,045 SF

      6029 Spencer Hwy

      RETAIL STORES (PERSONAL SERVICES) • 8,045 SF
      6029 Spencer Hwy, Pasadena, TX 77505-1627
      View Details
    • Value Estimation
      $325,000
      5,150 SF

      6131 Spencer Hwy

      RETAIL STORES (PERSONAL SERVICES) • 5,150 SF
      6131 Spencer Hwy, Pasadena, TX 77505-1605
      View Details

    Similar Nearby for Sale

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      20,250 SF facility on 2.2 acres, ideal for redevelopment.
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      Prime 1.63-Acre Commercial Land

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      19,936 SF building on 2.337 acres with highway frontage.
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    • $2,074,050
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      Prime Pasadena Pad Site - 1.9 Acres

      High-traffic retail development opportunity.
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      4.89 Acres

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      High-traffic retail property, 213,008 SF
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      Pasadena Industrial Property For Sale

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    Similar Nearby for Lease

    • $1,600,000
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      Freestanding Building in Pasadena, Texas

      Freestanding building suitable for retail, medical, or office uses.
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      View Details
    • Contact for pricing
      1,230 SF

      Retail Space in Established Center

      Retail space in a prominent location with high traffic.
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      1,440 SF

      Retail Space in Pasadena, TX

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    • $13 SF/Yr
      21,600 SF

      Spencer Strip Center: Retail Opportunity

      Prime Retail Space, Multiple Suites Available
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      View Details
    • Contact for pricing
      10,100 SF

      Fairmont Parkway Retail Center

      High-traffic Pasadena retail space available.
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      View Details
    • Contact for pricing
      108,959 SF

      Pasadena Retail Center Investment

      High-traffic retail space available.
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    Pasadena, TX 77505-2640
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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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