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

    623 Pasadena Blvd Pasadena, TX 77506-2455

    • Retail space
    • 2,730 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Feb 20, 2020
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1429059
    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

    • Electron-x & Powersports / Dj Supply Store / Atv Dealer
    • The four wheeler, dirt bike and go kart shop / Atv Dealer
    • U-Haul Neighborhood Dealer / Van Rental Agency / Trailer Rental Service

    Property Details for 623 Pasadena Blvd

    Year built
    1975
    Construction
    WOOD FRAME
    Lot size
    0.28 lot acres
    Property size
    2,730 SF
    Property type
    Retail space
    APN
    710850000033
    APU
    710850000033

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $400,000
      Market price range: $153k - $400k

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.2008
    Latitude
    29.702
    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
    $4,384
    $148,200
    $247,322
    $395,522
    -
    $148,200
    $247,322
    $395,522

    Comparable in this City

    • Value Estimation
      $250,000
      300 SF

      1010 Paul St

      RETAIL STORES (PERSONAL SERVICES) • 300 SF
      1010 Paul St, Pasadena, TX 77506-5247
      View Details
    • Value Estimation
      $400,000
      6,528 SF

      108 Main St

      RETAIL STORES (PERSONAL SERVICES) • 6,528 SF
      108 Main St, Pasadena, TX 77506-1406
      View Details
    • Value Estimation
      $275,000
      1,720 SF

      129 Shaver St

      RETAIL STORES (PERSONAL SERVICES) • 1,720 SF
      129 Shaver St, Pasadena, TX 77506-1130
      View Details
    • Value Estimation
      $280,000
      1,125 SF

      408 Shaw Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,125 SF
      408 Shaw Ave, Pasadena, TX 77506-1425
      View Details
    • Value Estimation by Request
      1,480 SF

      918 Strawberry Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,480 SF
      918 Strawberry Rd, Pasadena, TX 77506-4825
      View Details
    • Value Estimation
      $305,000
      4,255 SF

      615 Harris Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,255 SF
      615 Harris Ave, Pasadena, TX 77506-4648
      View Details

    Similar Nearby for Sale

    • $480,000
      1,325 SF

      Prime Pasadena Storefront Opportunity

      1,325 SF Retail Space, Owner/User
      922 Main St, Pasadena, TX 77506
      View Details
    • Contact for pricing
      163,641 SF

      Prime Pasadena Retail Space

      Massive Storefront, High-Traffic Area
      999 Pasadena Blvd, Pasadena, TX 77506
      View Details
    • Contact for pricing
      24,365 SF

      Prime Pasadena Retail Storefront

      24,365 SF Retail Space, Ample Parking
      2127 Southmore Ave, Pasadena, TX 77506
      View Details
    • $895,000
      7,930 SF

      Pasadena Commercial Building For Sale

      7,930 SF commercial building in a developed Pasadena community.
      619 Jackson Ave, Pasadena, TX 77506
      View Details
    • $845,000
      8,041 SF

      Pasadena Blvd Commercial Property

      High-Cap Rate, Multi-Tenant Office
      1022 Pasadena Blvd, Pasadena, TX 77506
      View Details
    • Contact for pricing
      10,060 SF

      Pasadena Auto Shop Investment

      10,060 SF Auto Center, High-Traffic Location
      909 Pasadena Blvd, Pasadena, TX 77506
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      2,531 SF

      Retail Space in Shaver Center

      Retail spaces available in neighborhood shopping center anchored by Family Dollar.
      901 Shaver St, Pasadena, TX 77506
      View Details
    • $449,999
      1,444 SF

      Updated Retail Space Available

      Recently updated retail space in a busy location.
      901 W Hart Ave, Pasadena, TX 77506
      View Details
    • Contact for pricing
      24,365 SF

      Pasadena Retail Center - Prime Location

      24,365 SF Retail Space, High Traffic Area
      2127 Southmore Ave, Pasadena, TX 77506
      View Details
    • $0.85 SF/Yr
      13,093 SF

      Pasadena Warehouse Space Available

      13,093 square foot warehouse space for lease in Pasadena.
      909 Shaver St, Pasadena, TX 77506
      View Details
    • Contact for pricing
      91,495 SF

      Prime Pasadena Cold Storage Facility

      Modern Cold Storage Warehouse - 91,495 SF Available
      1050 Red Bluff Rd, Pasadena, TX 77506
      View Details
    • Contact for pricing
      15,120 SF

      1021 Jackson Ave

      Distribution properties • 15,120 SF
      1021 Jackson Ave, Pasadena, TX 77506
      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.
    623 Pasadena Blvd
    Pasadena, TX 77506-2455
    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.