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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Drug stores
6945 Cypresswood Dr Spring, TX 77379-7703
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-2811199
Property summary
AI-generated overview
This exceptional 11,980-square-foot retail space, located at 6945 Cypresswood Drive in Spring, Texas, presents a unique investment opportunity. Previously operating as a pharmacy, this single-tenant property offers a versatile layout adaptable to a variety of commercial uses. Situated in Harris County, with easy access via Cypresswood Drive, the property benefits from high visibility and significant foot traffic. The building's substantial size provides ample space for a wide range of businesses, making it an attractive option for entrepreneurs and established companies alike. The property's location within the thriving Spring community ensures a strong customer base and convenient access to major transportation routes. This is an ideal opportunity to acquire a well-positioned retail space in a rapidly growing area of Texas. The property is available for lease. Interested parties should inquire for further details. The property's address is 6945 Cypresswood Dr, Spring, TX 77379. The property is classified as Retail and Special Purpose.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2002
Construction
BRICK
Total area
13,173 SF
Lot
4.4 ac (191,782 SF)
APN
1234370010001
UPID
US82-2811199
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
-
CVS Health Community Testing Site Medical Laboratory
-
Coinhub Bitcoin ATM Teller Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$704k
Blend (final)
Blend
$600k
Owner & transaction history
Hbb Klein Spring Texas LLC · 9 yrs held
Hbb Klein Spring Texas LLC
since 2016
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$935,000
+54.2%
Warehouse, storage
$865,000
+42.7%
Auto repair, garage
$865,000
+42.4%
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 Spring submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring 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
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$605,000
Current use
MEDICAL BUILDING
$935,000
Change: +54% · Conversion: Difficult
WAREHOUSE, STORAGE
$865,000
Change: +43% · Conversion: Difficult
AUTO REPAIR, GARAGE
$865,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$600k
Range $540k – $660k · ±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
$46 / 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
$48,794
Tax year 2022
Assessed value
$2,807,786
Assessed 2024
Previous assessed
$2,788,949
+0.7% YoY
Effective rate
1.74%
On assessed value
Assessed land
$1,388,213
Assessed improvement
$1,419,573
Land market value
$1,388,213
Improvement market value
$1,419,573
Total market value
$2,807,786
Applied tax rate
17.0000
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
2002
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
13,173 SF
Lot
4.4 ac (191,782 SF)
APN
1234370010001
UPID
US82-2811199
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
$605,000
MEDICAL BUILDING
Est. value
$935,000
WAREHOUSE, STORAGE
Est. value
$865,000
AUTO REPAIR, GARAGE
Est. value
$865,000
RETAIL STORES Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
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
2002
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
4.4 ac
Current owner
From public records · entity-resolved
Hbb Klein Spring Texas LLC
Entity
Mailing address
1 CVS DR #3005, WOONSOCKET, RI 02895-6146
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 18, 2016
—
Hbb Klein Spring Texas LLC
Pharmacy Assets LLC
Grant Deed
$2,100,000 · Grand 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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