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    6323 Spencer Hwy, Unit 32 Pasadena, TX 77505-1600
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    Property profile & analytics

    6323 Spencer Hwy, Unit 32, Pasadena, TX 77505-1600

    View on Map
    • Strip malls
    • 12,840 SF
    • 3.86 lot acres
    Off-Market
    Property ID
    US83-3726571
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Valu + Pawn / Discount Store / (Bike/Boat/Book/etc) Store
    • Elite 713 Strength & Conditioning / Gym & Fitness Center
    • Expression Hair Salon / Hair Salon / Nail Salon
    • Ashley Nails / Nail Salon

    Property Details for 6323 Spencer Hwy

    Year built
    1984
    Construction
    STEEL FRAME
    Lot size
    3.86 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    211570000031
    APU
    211570000031

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 5, 2017 — Arm Properties LLC — Deed · related $628k · Us Small Busn Admn
    Jan 11, 2005 — Pasadena Self-storage Ltd J & J Associates Grant Deed $1.8M · Texas State Bank
    May 15, 1997 — W R D Investments INC Champions Resources INC Grant Deed $850k · Seller
    — — Arm Properties LLC — Deed Of Trust · related $628k · Us Small Busn Admn

    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
    -95.1418
    Latitude
    29.6665
    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
    $41,775
    $969,555
    $1,392,339
    $2,361,894
    -
    $969,555
    $1,392,339
    $2,361,894

    Comparable in this City

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      25,103 SF

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      5233 Fairmont Pkwy, Pasadena, TX 77505-3947
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    • Value Estimation by Request
      12,069 SF

      4802 Sam Houston S Pkwy

      SHOPPING CENTER, STRIP CENTER
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      11,484 SF

      3926 Country Rd

      SHOPPING CENTER, STRIP CENTER
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    • Value Estimation
      $505,000
      11,770 SF

      7407 Spencer Hwy

      SHOPPING CENTER, STRIP CENTER
      7407 Spencer Hwy, Pasadena, TX 77505-1811
      View Details
    • Value Estimation
      $640,000
      20,197 SF

      6831 Spencer Hwy

      SHOPPING CENTER, STRIP CENTER
      6831 Spencer Hwy, Pasadena, TX 77505-1772
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    • Value Estimation by Request
      7,985 SF

      4450 Sam Houston S Pkwy

      SHOPPING CENTER, STRIP CENTER
      4450 Sam Houston S Pkwy, Pasadena, TX 77505-3950
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    Similar Nearby for Sale

    • Contact for pricing
      19,936 SF

      Pasadena Warehouse with Showroom/Office

      19,936 SF building on 2.337 acres with highway frontage.
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      Freestanding Building in Pasadena, Texas

      Freestanding building suitable for retail, medical, or office use.
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      20,250 SF

      Multi-Purpose Facility on High Traffic

      20,250 SF facility on 2.2 acres, ideal for redevelopment.
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      5,073 SF

      Freestanding Building in Pasadena, Texas

      Freestanding building suitable for retail, medical, or office uses.
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      Prime Commercial Land For Sale

      1.113 acres with high traffic, ideal for development.
      4914 Spencer Hwy, Pasadena, TX 77505
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    • Contact for pricing
      19,936 SF

      Pasadena Commercial Property on Spencer Highway

      Commercial property on Spencer Highway suitable for various business uses.
      5213 Spencer Hwy, Pasadena, TX 77505
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    Similar Nearby for Lease

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      3,689 SF

      Retail Space in Allen Center

      Retail space available in Pasadena, Texas with ample parking.
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      Regional Power Center For Lease

      Regional power center with frontage on Beltway 8.
      4533 East Sam Houston Pkwy S, Pasadena, TX 77505
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      Second Floor Space Available

      Second floor space available, requires outdoor staircase construction.
      6315 Fairmont Pkwy, Pasadena, TX 77505
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    • Contact for pricing

      Retail Space on Spencer Highway

      Retail space with high traffic exposure on Spencer Highway.
      6868 Spencer Hwy, 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.
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    • $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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    Pasadena, TX 77505-1600
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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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