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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Drug stores
6302 Fairmont Pkwy Pasadena, TX 77505-4219
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US82-4037346
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1999
Construction
BRICK
Total area
15,856 SF
Lot
1.72 ac (74,801 SF)
APN
1207730010001
UPID
US82-4037346
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
LibertyX Bitcoin ATM Atm
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
FedEx OnSite Postal Service Courier Service
-
Walgreens Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$726k
Blend (final)
Blend
$580k
Owner & transaction history
Cornerstone III LLC · 9 yrs held
Cornerstone III LLC
since 2016
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$925,000
+14.2%
Warehouse, storage
$885,000
+9.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pasadena submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$810,000
Current use
OFFICE BUILDING
$925,000
Change: +14% · Conversion: Easy
WAREHOUSE, STORAGE
$885,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$37 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$52,647
Tax year 2022
Assessed value
$2,412,444
Assessed 2024
Previous assessed
$2,331,458
+3.5% YoY
Effective rate
2.18%
On assessed value
Assessed land
$1,346,436
Assessed improvement
$1,066,008
Land market value
$1,346,436
Improvement market value
$1,066,008
Total market value
$2,412,444
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1999
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
15,856 SF
Lot
1.72 ac (74,801 SF)
APN
1207730010001
UPID
US82-4037346
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$810,000
OFFICE BUILDING
Est. value
$925,000
WAREHOUSE, STORAGE
Est. value
$885,000
RETAIL STORES Current
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
1.72 ac
Current owner
From public records · entity-resolved
Cornerstone III LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2016
—
Cornerstone III LLC
Cornerstone Leased Drug Stores
Quit Claim Deed
$24,519,000 · Starwood Mtg Cap
Aug 25, 2006
—
Cornerstone III LLC
Cornerstone Leased Drug Stores LLC
Quit Claim Deed
related
$50,549,000 · Bear Stearns Commercial Mortgage In
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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