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    6243 Fairmont Pkwy Pasadena, TX 77505-4045
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    Property profile & analytics

    6243 Fairmont Pkwy Pasadena, TX 77505-4045

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    • Medical Office Space
    • 38,961 SF
    • 2.52 lot acres
    Off-Market
    Property ID
    US83-4153449
    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.
    Value Estimations
    $1,550,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kenneth Brooks, MD / Physician
    • Steven A. Fein MD, FACG Weight Loss Clinic / Weight Loss Service
    • The Allergy Clinic / Medical Clinic
    • Let's Just Imagine MD / Gym & Fitness Center / Alternative Medicine Practice
    • Principle Spine & Pain / Physician

    Property Details for 6243 Fairmont Pkwy

    Year built
    1995
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.52 lot acres
    Property size
    38,961 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    341990000352
    APU
    341990000352

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.1442
    Latitude
    29.651
    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
    $79,868
    $1,975,248
    $4,868,632
    $6,843,880
    -
    $1,975,248
    $4,868,632
    $6,843,880

    Comparable in this City

    • Value Estimation
      $3,400,000
      28,360 SF

      5146 Preston Ave

      MEDICAL BUILDING • 28,360 SF
      5146 Preston Ave, Pasadena, TX 77505-2054
      View Details
    • Value Estimation
      $2,250,000
      51,160 SF

      4500 Sam Houston S Pkwy

      MEDICAL BUILDING • 51,160 SF
      4500 Sam Houston S Pkwy, Pasadena, TX 77505-3959
      View Details
    • Value Estimation
      $800,000
      15,948 SF

      5030 Crenshaw Rd

      MEDICAL BUILDING • 15,948 SF
      5030 Crenshaw Rd, Pasadena, TX 77505-3140
      View Details
    • Value Estimation
      $710,000
      14,204 SF

      5413 Crenshaw Rd

      MEDICAL BUILDING • 14,204 SF
      5413 Crenshaw Rd, Pasadena, TX 77505-3164
      View Details
    • Value Estimation
      $1,430,000
      11,097 SF

      5040 Crenshaw Rd

      MEDICAL BUILDING • 11,097 SF
      5040 Crenshaw Rd, Pasadena, TX 77505-3047
      View Details
    • Value Estimation
      $615,000
      9,022 SF

      5125 Fairmont Pkwy

      MEDICAL BUILDING • 9,022 SF
      5125 Fairmont Pkwy, Pasadena, TX 77505-3727
      View Details

    Similar Nearby for Sale

    • $1,600,000

      Freestanding Building in Pasadena, Texas

      Freestanding building suitable for retail, medical, or office use.
      6015 Fairmont Pkwy, Pasadena, TX 77505
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      2,191 SF

      Pasadena Office Space For Sale

      Office property with 2,191 square feet available for purchase.
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      19,120 SF

      Industrial Property with Ample Space

      Industrial property featuring office, warehouse space, and loading dock.
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      Prime Commercial Land For Sale

      1.113 acres with high traffic, ideal for development.
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      Multi-Purpose Facility on High Traffic

      20,250 SF facility on 2.2 acres, ideal for redevelopment.
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      Commercial Land at Lighted Intersection

      Located at lighted intersection, excellent for QSR or retail.
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    Similar Nearby for Lease

    • $25 SF/Yr

      Freestanding Building on Fairmont Parkway

      Freestanding building suitable for retail, medical, or office uses.
      6015 Fairmont Pkwy, Pasadena, TX 77505
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      2,953 SF

      Bayside Medical & Surgery Center

      Medical and surgery center with available spaces for lease.
      4001 Preston Ave, Pasadena, TX 77505
      View Details
    • Contact for pricing
      10,512 SF

      Medical Office Building For Rent

      Medical office building with 10,512 square feet available for rent.
      5044 Crenshaw Rd, Pasadena, TX 77505
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    • $26 SF/Yr
      3,339 SF

      New Office Space Near Hospital

      Shell condition office space ideal for medical or professional use.
      4805 E Sam Houston Pkwy S, 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
      3,346 SF

      Class A Office Building

      Two-story office building with freeway access and high visibility.
      4500 E Sam Houston Pkwy S, Pasadena, TX 77505
      View Details
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    Pasadena, TX 77505-4045
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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.

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