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

    6045 Fairmont Pkwy Pasadena, TX 77505-4022

    • Warehouses
    • 1,200 SF
    • 5.44 lot acres
    OFF-MARKET
    Last Sale
    Apr 05, 2024
    Value Estimations
    $440,000
    Show details
    Cap Rate Potential
    2.5%
    Warehouses
    Location Intelligence
    Property ID
    US83-3971984
    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

    • Extra Space Storage / Boat Storage Facility / Moving And Storage Service
    • American Storage / Self-Storage Facility
    • Record Nations / Records Storage Facility / Information Services

    Property Details for 6045 Fairmont Pkwy

    Year built
    1994
    Construction
    BRICK
    Lot size
    5.44 lot acres
    Property size
    1,200 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    341990000382
    APU
    341990000382

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $440,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.1464
    Latitude
    29.6523
    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
    $40,562
    $1,340,178
    $2,227,877
    $3,568,055
    -
    $1,340,178
    $2,227,877
    $3,568,055

    Comparable in this City

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      $625,000
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      MINI-WAREHOUSE, STORAGE • 22,244 SF
      7905 Spencer Hwy, Pasadena, TX 77505-5901
      View Details
    • Value Estimation
      $1,400,000
      56,400 SF

      3320 Sam Houston S Pkwy

      MINI-WAREHOUSE, STORAGE • 56,400 SF
      3320 Sam Houston S Pkwy, Pasadena, TX 77505-2328
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    • Value Estimation
      $375,000
      9,440 SF

      6939 Line Dr

      MINI-WAREHOUSE, STORAGE • 9,440 SF
      6939 Line Dr, Pasadena, TX 77505
      View Details
    • Value Estimation
      $805,000
      11,400 SF

      6321 Spencer Hwy

      MINI-WAREHOUSE, STORAGE • 11,400 SF
      6321 Spencer Hwy, Pasadena, TX 77505-1609
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    • Value Estimation
      $460,000
      78,002 SF

      6402 Fairmont Pkwy

      MINI-WAREHOUSE, STORAGE • 78,002 SF
      6402 Fairmont Pkwy, Pasadena, TX 77505-4221
      View Details
    • Value Estimation
      $545,000
      117,473 SF

      7430 Spencer Hwy, Unit 647

      MINI-WAREHOUSE, STORAGE • 117,473 SF
      7430 Spencer Hwy, Pasadena, TX 77505-1812
      View Details

    Similar Nearby for Sale

    • $700,000

      Self-Storage Facility with Warehouse

      Income-generating self-storage facility with industrial warehouse and office space.
      6921 Red Bluff Rd, Pasadena, TX 77505
      View Details
    • $3,900,000
      16,000 SF

      Industrial Warehouse with Laydown Yard

      16,000 SF industrial warehouse with existing tenant and laydown yard.
      3923 Pansy St #E, Pasadena, TX 77505
      View Details
    • $3,200,000
      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
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    • $2,900,000
      20,250 SF

      Multi-Purpose Facility on High Traffic

      20,250 SF facility on 2.2 acres, ideal for redevelopment.
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    • $2,000,000
      19,120 SF

      Pasadena Industrial Property For Sale

      19,120 SF industrial property on 2 acres in Pasadena, TX.
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    • $830,000

      Pasadena Land: Prime Commercial Tract

      1.11 Acres, High Traffic, Multi-Use Potential
      4914 Spencer Hwy, Pasadena, TX 77505
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    Similar Nearby for Lease

    • $12 SF/Yr
      4,397 SF

      Fairmont Parkway Office Space

      1800 sq ft Office Suite in Pasadena, TX
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    • Contact for pricing
      31,250 SF

      Pasadena Warehouse with Truck Court

      31,250 SF warehouse featuring a 140' truck court.
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    • Contact for pricing
      240,041 SF

      Pasadena Warehouse with Cross-Docking

      240,041 SF warehouse featuring cross-docking and ample parking.
      2555 Genoa Red Bluff Rd, Pasadena, TX 77505
      View Details
    • $15 SF/Yr
      8,624 SF

      Spencer Highway Retail Center

      High-traffic retail space, 5 suites available
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      View Details
    • Contact for pricing
      3,360 SF

      Class A Office Building

      Two-story office building with freeway access and high visibility.
      4500 E Sam Houston Pkwy S, Pasadena, TX 77505
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    • 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
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    6045 Fairmont Pkwy
    Pasadena, TX 77505-4022
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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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