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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Strip malls
6870 Spencer Hwy Pasadena, TX 77505
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-2037953
Property summary
AI-generated overview
This exceptional retail investment opportunity presents a prime 165,535 square foot neighborhood center situated on 13.23 acres in Pasadena, Texas. The property, located at 6870 Spencer Highway at the southwest corner of Spencer Highway and Red Bluff Road, just outside Beltway 8, boasts three single-story buildings constructed in 1970 and extensively renovated in 2019. The center offers a range of spaces, with a minimum divisible unit of 1,000 square feet and a maximum contiguous space of 2,500 square feet
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Construction
STEEL FRAME
Total area
103,991 SF
Lot
13.23 ac (576,342 SF)
APN
440830000105
UPID
US82-2037953
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$665k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.22M
Blend (final)
Blend
$940k
Owner & transaction history
Atco-valley Plaza LLC · 9 yrs held
Atco-valley Plaza LLC
since 2017
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$665,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±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
$9 / 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
$204,593
Tax year 2022
Assessed value
$9,338,183
Assessed 2024
Previous assessed
$9,060,412
+3.1% YoY
Effective rate
2.19%
On assessed value
Assessed land
$4,610,736
Assessed improvement
$4,727,447
Land market value
$4,610,736
Improvement market value
$4,727,447
Total market value
$9,338,183
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1980
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
4
Stories
1
Total area
103,991 SF
Lot
13.23 ac (576,342 SF)
APN
440830000105
UPID
US82-2037953
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
Building & site characteristics
From public records
Year built
1980
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
4
Lot
13.23 ac
Current owner
From public records · entity-resolved
Atco-valley Plaza LLC
Entity
Free & Clear · 9 yrs held
Mailing address
3435 W 122ND PL NE STE #200, BELLEVUE, WA 98005-1237
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2024
—
Pasadena Park Plaza LLC
—
Deed
related
$7,605,000 · East West Bank
Apr 7, 2020
—
Atco-valley Plaza LLC
—
Deed
related
$5,597,683 · Third Coast Bk Ssb
Mar 13, 2020
—
Atco-valley Plaza LLC
—
Deed
related
$5,369,646 · Third Coast Bk Ssb
Mar 5, 2019
—
Atco-valley Plaza LLC
—
Trustees Deed
related
$5,925,000 · Third Coast Bk Ssb
Jan 11, 2017
—
Atco-valley Plaza LLC
Robyn Jo LLC
Grant Deed
related
—
—
—
Atco-valley Plaza LLC
—
Loan Modification
related
$5,369,646 · Third Coast Bk Ssb
—
—
Pasadena Park 2002 LLC
—
Deed Of Trust
related
$4,500,000 · Vectra Bank Colorado NA
—
—
Atco-valley Plaza LLC
—
Loan Modification
related
$5,597,683 · Third Coast Bk Ssb
—
—
Pasadena Park 2002 LLC
—
Deed Of Trust
related
$1,400,000 · Vectra Bank Colorado NA
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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