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Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Warehouses
6321 Spencer Hwy Pasadena, TX 77505-1609
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-1760623
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1977
Construction
CONCRETE BLOCKS
Total area
11,400 SF
Lot
5.18 ac (225,453 SF)
APN
211570000037
UPID
US82-1760623
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
-
Storage King USA Storage Facility
-
Party Tent & Event Gurus LLC Party Supply Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$705k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$899k
Blend (final)
Blend
$805k
Owner & transaction history
Bcore Storage Spencer LP · 5 yrs held
Bcore Storage Spencer LP
since 2020
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$965,000
+52.0%
Restaurant
$930,000
+46.7%
Medical building
$850,000
+33.7%
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
$705,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$635,000
Current use
AUTO REPAIR, GARAGE
$965,000
Change: +52% · Conversion: Easy
RESTAURANT
$930,000
Change: +47% · Conversion: Difficult
MEDICAL BUILDING
$850,000
Change: +34% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$770,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$665,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$580,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$805k
Range $725k – $886k · ±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
$71 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$90,090
Tax year 2023
Assessed value
$3,438,750
Assessed 2024
Previous assessed
$3,438,750
+0.0% YoY
Effective rate
2.62%
On assessed value
Assessed land
$1,352,718
Assessed improvement
$2,086,032
Land market value
$1,352,718
Improvement market value
$2,086,032
Total market value
$3,438,750
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1977
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
9
Stories
1
Total area
11,400 SF
Lot
5.18 ac (225,453 SF)
APN
211570000037
UPID
US82-1760623
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
WAREHOUSE, STORAGE Current
Est. value
$635,000
AUTO REPAIR, GARAGE
Est. value
$965,000
RESTAURANT
Est. value
$930,000
MEDICAL BUILDING
Est. value
$850,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$770,000
OFFICE BUILDING
Est. value
$665,000
RETAIL STORES
Est. value
$580,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
RETAIL STORES
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
1977
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
9
Lot
5.18 ac
Current owner
From public records · entity-resolved
Bcore Storage Spencer LP
Entity
Mailing address
150 E 52ND ST, NEW YORK, NY 10022-6017
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2024
—
Piranha Real Estate LP
—
Deed
related
$120,000,000 · Wells Fargo Bank NA
Sep 11, 2020
—
Bcore Storage Spencer LP
Mhc 24 Pasadena Tx LLC
Grant Deed
$350,000,000 · Wells Fargo Bk
Sep 1, 2020
—
Mhc 24 Pasadena Tx LLC
—
Deed
related
$350,000,000 · Jp Morgan Chase Bk
Jun 10, 2019
—
Mhc 24 Pasadena Tx LLC
—
Loan Modification
related
$350,000,000 · Jp Morgan Chase Bk
May 24, 2018
—
Mhc 24 LLC
Pasadena Bargain Storage LLC
Grant Deed
$303,100,000 · Jp Morgan Chase Bk
Dec 20, 2017
—
Pasadena Bargain Storage LLC
—
Deed
related
$2,685,045 · Newfirst Nat'l Bk
Mar 16, 2015
—
Pasadena Bargain Storage LLC
Spencer Highway Self Storage L
Grant Deed
$2,787,500 · Newfirst Nat'l Bk
Mar 11, 2013
—
Highway Self Storage L Spencer
City Natl Bk
Grant Deed
$1,547,000 · Employees' Retirement Plan/haj
Nov 2, 2010
$2,360,000
City Natl Bk
Adesina,oreoluwatola O
Trustees Deed
related
—
Jan 20, 2004
—
Iotop Investment LP
Phelps,tr
Grant Deed
related
—
—
—
Pasadena Self-storage Ltd
—
Deed Of Trust
related
$2,600,000 · Imperial Capital Bank
—
—
Pasadena Bargain Storage LLC
—
Loan Modification
related
$2,685,045 · Newfirst Nat'l Bk
—
—
Mhc 24 Pasadena Tx LLC
—
Loan Modification
related
$350,000,000 · Jp Morgan Chase Bk
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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