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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    602 West Semands St Conroe, TX 77301

    • Warehouses
    • 6,296 SF
    • 0.45 lot acres
    For Sale
    View listing
    Last Sale
    Mar 01, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-2345294
    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

    • Priority Roofers Conroe / Roofing Contractor

    Property Details for 602 West Semands St

    Year built
    1980
    Lot size
    0.45 lot acres
    Property size
    6,296 SF
    Zone code
    1
    Property type
    Warehouses
    APN
    8440-00-01100
    APU
    84400001100

    Description

    This exceptional 6,398-square-foot commercial property in Conroe, Texas, presents a unique investment opportunity. Located at 602 West Semands Street, this single-tenant building offers a versatile blend of office and warehouse space, ideal for a variety of businesses. The property boasts a substantial 3,800 square feet of office space, complemented by a 1,400-square-foot warehouse area featuring two 12-foot-high by 10-foot-wide grade-level roll-up doors, perfect for loading and unloading. Built in 1980 and renovated in 2008, the building is classified as Class C and sits on a 0.45-acre lot. Ample parking is provided with 14 spaces, and the property benefits from a fully fenced and gated access for enhanced security. Additional yard space offers further flexibility, and the property's prominent location allows for pylon signage opportunities. Conveniently located minutes from Downtown Conroe and with easy access to I-45, this property offers excellent visibility and accessibility. The property is currently vacant, providing immediate occupancy for the new owner. Montgomery County location adds to its appeal. This is a rare chance to acquire a well-maintained, versatile commercial property in a thriving Texas market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $223,000
      Market price range: $224k - $559k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $365,000
      Current use
      OFFICE BUILDING
      $460,000
      Change: +26% Conversion: Difficult
      MEDICAL BUILDING
      $445,000
      Change: +21% Conversion: Difficult
      RETAIL STORES
      $425,000
      Change: +15% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Conroe
    County
    Montgomery
    State
    Texas
    Longitude
    -95.4637
    Latitude
    30.325
    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
    $4,024
    $49,500
    $165,500
    $215,000
    -
    $49,500
    $165,500
    $215,000

    Comparable in this City

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      69,814 SF

      601 Lewis St

      WAREHOUSE, STORAGE • 69,814 SF
      601 Lewis St, Conroe, TX 77301-2528
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    • Value Estimation
      $265,000
      800 SF

      1701 1st St

      WAREHOUSE, STORAGE • 800 SF
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    • Value Estimation
      $320,000
      4,000 SF

      503 1st St

      WAREHOUSE, STORAGE • 4,000 SF
      503 1st St, Conroe, TX 77301-2659
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    • Value Estimation
      $325,000
      4,000 SF

      506 Browder St

      WAREHOUSE, STORAGE • 4,000 SF
      506 Browder St, Conroe, TX 77301
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    • Value Estimation
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      3,435 SF

      3349 Davis St

      WAREHOUSE, STORAGE • 3,435 SF
      3349 Davis St, Conroe, TX 77301-7224
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,398 SF

      Flex Warehouse in Conroe, TX

      5,200 SF flex warehouse on 0.45 acres for sale/lease.
      602 West Semands St, Conroe, TX 77301
      View Details
    • Contact for pricing
      5,500 SF

      Conroe Industrial Sale-Leaseback

      High-yield 8% cap rate, NNN lease.
      262 Beach Airport Rd, Conroe, TX 77301
      View Details
    • $350,000
      2,976 SF

      Industrial/Flex Facility on 0.52 Acres

      2,976 SF industrial/flex facility on 0.52 acres for sale.
      1303 Beach Airport Rd, Conroe, TX 77301
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    • Contact for pricing
      12,811 SF

      Conroe Retail/Warehouse Space

      12,811 SF, Hwy 105 E. location
      2751 Davis St, Conroe, TX 77301
      View Details
    • $660,000
      4.66 Acres

      Conroe Land: 4.66 Acres

      Prime Conroe land, ideal for development.
      0 Fm 3083 Rd, Conroe, TX 77301
      View Details
    • $3,672,094
      41.12 Acres

      Conroe Industrial & Residential Land

      41 Acres, City Utilities Available
      0 Airport Rd, Conroe, TX 77301
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      11,250 SF

      Conroe Warehouse with Office Space

      5,000 SF warehouse with 1,575 SF office space.
      12001 Fm 3083 Rd, Conroe, TX 77301
      View Details
    • $10 SF/Yr
      4,500 SF

      Conroe Warehouse with Office Space

      4,500 SF warehouse with 1,500 SF office in Conroe.
      1998-2008 Airport Rd, Conroe, TX 77301
      View Details
    • $1.10 SF/Yr
      9,900 SF

      Conroe Office/Warehouse with Stabilized Yard

      9,900 SF office/warehouse on 1.82 acres available for lease.
      2112 Airport Rd, Conroe, TX 77301
      View Details
    • $13 SF/Yr
      5,000 SF

      Conroe Warehouse with Office Space

      Warehouse with office space for lease in Conroe, TX.
      12062-12068 Fm 3083 Rd, Conroe, TX 77301
      View Details
    • $1.05 SF/Yr
      7,000 SF

      7,000 SF Warehouse Available

      7,000 SF warehouse with office space and ample parking.
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    • $13 SF/Yr
      42,231 SF

      Adaptable Office-Warehouse Flex Spaces

      Versatile office-warehouse units in Conroe, TX, ranging from 1,726-13,834 SF.
      2007 Airport Rd, Conroe, TX 77301
      View Details
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    602 West Semands St
    Conroe, TX 77301
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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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