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    Property profile & analytics

    6945 Cypresswood Dr Spring, TX 77379

    • Drug stores
    • 13,173 SF
    • 4.40 lot acres
    For Sale
    View listing
    $3,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2811199
    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.

    Current Use by Public Records

    • CVS Health Community Testing Site / Medical Laboratory
    • Coinhub Bitcoin ATM Teller / Atm

    Property Details for 6945 Cypresswood Dr

    Year built
    2002
    Construction
    BRICK
    Lot size
    4.40 lot acres
    Property size
    13,173 SF
    Property type
    Drug stores
    APN
    1234370010001
    APU
    1234370010001

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $500,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $704,000
      Market price range: $443k - $807k

    • 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

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spring
    County
    Harris
    State
    Texas
    Longitude
    -95.5155
    Latitude
    30.0094
    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
    $48,794
    $1,388,213
    $1,419,573
    $2,807,786
    -
    $1,388,213
    $1,419,573
    $2,807,786

    Comparable in this City

    • Value Estimation
      $555,000
      14,264 SF

      8754 Spg Cypress Rd

      DRUG STORE, PHARMACY • 14,264 SF
      8754 Spg Cypress Rd, Spring, TX 77379-3135
      View Details
    • Value Estimation
      $600,000
      15,658 SF

      7304 Louetta Rd

      DRUG STORE, PHARMACY • 15,658 SF
      7304 Louetta Rd, Spring, TX 77379-7234
      View Details
    • Value Estimation by Request
      14,683 SF

      10833 Gleannloch Frst Dr

      Individual retail properties • 14,683 SF
      10833 Gleannloch Frst Dr, Spring, TX 77379
      View Details
    • Value Estimation
      $530,000
      16,476 SF

      8317 Louetta Rd

      DRUG STORE, PHARMACY • 16,476 SF
      8317 Louetta Rd, Spring, TX 77379-6735
      View Details
    • Value Estimation
      $635,000
      14,683 SF

      10833 Gleannloch Frst Dr

      DRUG STORE, PHARMACY • 14,683 SF
      10833 Gleannloch Frst Dr, Spring, TX 77379-1567
      View Details
    • Value Estimation
      $545,000
      15,456 SF

      19302 Kuykendahl Rd

      DRUG STORE, PHARMACY • 15,456 SF
      19302 Kuykendahl Rd, Spring, TX 77379-3404
      View Details

    Similar Nearby for Sale

    • $3,500,000
      11,980 SF

      Cypresswood Drive Storefront Retail

      High-traffic retail storefront, excellent location.
      6945 Cypresswood Dr, Spring, TX 77379
      View Details
    • Contact for pricing
      29,951 SF

      Retail/Office/Medical Space Available

      Second-generation retail space near major retailers and corporate campuses.
      6334 Fm-2920, Spring, TX 77379
      View Details
    • $1,600,000
      2,812 SF

      Versatile Commercial Property in Spring, TX

      Unrestricted property suitable for office, medical, or service-based businesses.
      17427 W Strack Dr, Spring, TX 77379
      View Details
    • $1,500,000
      5,689 SF

      Spring Cypress Freestanding Buildings

      Freestanding buildings ideal for office, medical, retail, or services.
      6710 Spring Cypress Rd, Spring, TX 77379
      View Details
    • $1,360,000
      1,632 SF

      Executive Office Building, Spring, TX

      1,632 SF Office/Retail, $1.36M
      9312 Louetta Rd, Spring, TX 77379
      View Details
    • Contact for pricing
      5,100 SF

      Spring Retail Endcap Opportunity

      5,100 SF Retail Space - NNN Lease
      5306 Louetta Rd, Spring, TX 77379
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      8,400 SF

      Stuebner Airline Retail Center

      Spring, TX Retail Opportunity: 4,800 SF Available
      16215 Stuebner Airline Rd, Spring, TX 77379
      View Details
    • Contact for pricing
      5,053 SF

      Retail Space on Louetta Road

      Retail space available for lease on Louetta Road.
      8921 Louetta Rd, Spring, TX 77379
      View Details
    • $30 SF/Yr
      3,028 SF

      Retail Space Available For Lease

      Retail space available for lease in Spring, Texas.
      6905 Cypresswood Dr, Spring, TX 77379
      View Details
    • Contact for pricing
      12,879 SF

      Louetta Road Retail Opportunity

      Three retail pads, high traffic area.
      8411 Louetta Rd, Spring, TX 77379
      View Details
    • Contact for pricing
      29,951 SF

      Woodforest Plaza Retail Space

      Spring, TX: Prime Retail Opportunity
      6334 Fm 2920 Rd, Spring, TX 77379
      View Details
    • Contact for pricing
      2,550 SF

      Retail/Medical Office Space Available

      5,131 SF retail/medical office space for lease in Spring, TX.
      18551 Champion Forest Dr, Spring, TX 77379
      View Details
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    Spring, TX 77379
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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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