Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6029 Spencer Hwy Pasadena, TX 77505-1627

    • Retail space
    • 8,045 SF
    • 0.51 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2894036
    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

    • Illusions Hair Salon / Hair Salon
    • Tamale House Factory / Restaurant / Take-out & Catering
    • Income Tax Y Mas / Accounting Firm / Tax Preparation

    Property Details for 6029 Spencer Hwy

    Year built
    1964
    Construction
    WOOD FRAME
    Lot size
    0.51 lot acres
    Property size
    8,045 SF
    Property type
    Retail space
    APN
    710050010003
    APU
    710050010003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.1483
    Latitude
    29.6661
    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
    $5,613
    $221,940
    $279,464
    $501,404
    -
    $221,940
    $279,464
    $501,404

    Comparable in this City

    • Value Estimation
      $950,000
      10,000 SF

      3600 Sam Houston S Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      3600 Sam Houston S Pkwy, Pasadena, TX 77505-3102
      View Details
    • Value Estimation
      $515,000
      10,125 SF

      6025 Fairmont Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 10,125 SF
      6025 Fairmont Pkwy, Pasadena, TX 77505-4022
      View Details
    • Value Estimation by Request
      6,000 SF

      7202 Spencer Hwy

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      7202 Spencer Hwy, Pasadena, TX 77505-1829
      View Details
    • Value Estimation by Request
      1,252 SF

      3207 Preston Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,252 SF
      3207 Preston Ave, Pasadena, TX 77505-2002
      View Details
    • Value Estimation by Request
      1,840 SF

      3123 Preston Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,840 SF
      3123 Preston Ave, Pasadena, TX 77505-2001
      View Details
    • Value Estimation by Request
      5,000 SF

      3924 Country Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      3924 Country Rd, Pasadena, TX 77505-3121
      View Details

    Similar Nearby for Sale

    • $1,600,000
      5,073 SF

      Freestanding Building in Pasadena, Texas

      Freestanding building suitable for retail, medical, or office uses.
      6015 Fairmont Pkwy, Pasadena, TX 77505
      View Details
    • $2,800,000
      20,250 SF

      Multi-Purpose Facility on High Traffic

      20,250 SF facility on 2.2 acres, ideal for redevelopment.
      7770 Spencer Hwy, Pasadena, TX 77505
      View Details
    • $1,600,000

      Freestanding Building in Pasadena, Texas

      Freestanding building suitable for retail, medical, or office use.
      6015 Fairmont Pkwy, Pasadena, TX 77505
      View Details
    • $2,900,000
      19,936 SF

      Pasadena Warehouse with Showroom/Office

      19,936 SF building on 2.337 acres with highway frontage.
      5213 Spencer Hwy, Pasadena, TX 77505
      View Details
    • Contact for pricing

      Prime Commercial Land For Sale

      1.113 acres with high traffic, ideal for development.
      4914 Spencer Hwy, Pasadena, TX 77505
      View Details
    • Contact for pricing
      213,008 SF

      Pasadena Retail and Commercial Land

      Available retail and commercial land in Pasadena, Texas.
      Nwq Spencer Hwy & Red Blf Rd, Pasadena, TX 77505
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,230 SF

      Retail Space in Established Center

      Retail space in a prominent location with high traffic.
      4979 Fairmont Pkwy, Pasadena, TX 77505
      View Details
    • Contact for pricing
      1,440 SF

      Retail Space in Pasadena, TX

      Retail space available for lease in Pasadena, Texas.
      5020 Fairmont Pkwy, Pasadena, TX 77505
      View Details
    • Contact for pricing

      Retail Space on Spencer Highway

      Retail space with high traffic exposure on Spencer Highway.
      6868 Spencer Hwy, Pasadena, TX 77505
      View Details
    • Contact for pricing

      Second Floor Space Available

      Second floor space available, requires outdoor staircase construction.
      6315 Fairmont Pkwy, Pasadena, TX 77505
      View Details
    • Contact for pricing

      Pasadena Retail and Office Spaces

      Retail and office spaces available in Pasadena, Texas.
      6005 Fairmont Pkwy, Pasadena, TX 77505
      View Details
    • $25 SF/Yr

      Freestanding Building on Fairmont Parkway

      Freestanding building suitable for retail, medical, or office uses.
      6015 Fairmont Pkwy, Pasadena, TX 77505
      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.
    6029 Spencer Hwy
    Pasadena, TX 77505-1627
    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.
    Sign Up Successful!
    You now have access to more from Realmo!