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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7878 Spencer Hwy, Unit 248 Pasadena, TX 77505-1944

    • Garden apartment buildings
    • 3,984 SF
    • 10.29 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2628153
    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

    • London Belle / Apartment Complex
    • Missionaries Texas / Religious Organization

    Property Details for 7878 Spencer Hwy

    Year built
    1969
    Construction
    FRAME
    Lot size
    10.29 lot acres
    Property size
    3,984 SF
    Property type
    Garden apartment buildings
    APN
    440830000061
    APU
    440830000061

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Harris
    State
    Texas
    Longitude
    -95.1175
    Latitude
    29.662
    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
    $402,334
    $2,242,140
    $13,588,066
    $15,830,206
    -
    $2,242,140
    $13,588,066
    $15,830,206

    Comparable in this City

    • Value Estimation
      $805,000
      8,160 SF

      5930 Red Blf Rd, Unit 105

      GARDEN APT, COURT APT (5+ UNITS) • 8,160 SF
      5930 Red Blf Rd, Pasadena, TX 77505-2625
      View Details
    • Value Estimation
      $2,345,000
      25,103 SF

      5400 Crenshaw Rd, Unit 264

      GARDEN APT, COURT APT (5+ UNITS) • 25,103 SF
      5400 Crenshaw Rd, Pasadena, TX 77505-3148
      View Details
    • Value Estimation
      $2,050,000
      21,308 SF

      6060 Fairmont Pkwy, Unit 300

      GARDEN APT, COURT APT (5+ UNITS) • 21,308 SF
      6060 Fairmont Pkwy, Pasadena, TX 77505-4049
      View Details
    • Value Estimation
      $3,055,000
      32,736 SF

      5045 Crenshaw Rd

      GARDEN APT, COURT APT (5+ UNITS) • 32,736 SF
      5045 Crenshaw Rd, Pasadena, TX 77505-3049
      View Details
    • Value Estimation
      $605,000
      7,408 SF

      6565 Spencer Hwy, Unit 440

      GARDEN APT, COURT APT (5+ UNITS) • 7,408 SF
      6565 Spencer Hwy, Pasadena, TX 77505-1773
      View Details
    • Value Estimation
      $2,610,000
      27,512 SF

      4811 Sam Houston S Pkwy, Unit 294

      GARDEN APT, COURT APT (5+ UNITS) • 27,512 SF
      4811 Sam Houston S Pkwy, Pasadena, TX 77505-3963
      View Details

    Similar Nearby for Sale

    • $830,000

      Pasadena Land: Prime Commercial Tract

      1.11 Acres, High Traffic, Multi-Use Potential
      4914 Spencer Hwy, Pasadena, TX 77505
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    • $2,000,000
      19,120 SF

      Pasadena Industrial Property For Sale

      19,120 SF industrial property on 2 acres in Pasadena, TX.
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    • $339,800

      Prime 1.5-Acre Development Opportunity

      1.5-acre lot with high visibility and no zoning restrictions.
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    • $170,000

      Commercial Lots on Red Bluff

      Three commercial lots totaling 21,000 SF with high visibility.
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    • $2,074,050
      1.90 Acres

      Prime Pasadena Pad Site - 1.9 Acres

      High-traffic retail development opportunity.
      0 Sec Sam Houston Tollway Tx-8 & Spencer Hwy, Pasadena, TX 77505
      View Details
    • $2,900,000
      20,250 SF

      Multi-Purpose Facility on High Traffic

      20,250 SF facility on 2.2 acres, ideal for redevelopment.
      7770 Spencer Hwy, Pasadena, TX 77505
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    Similar Nearby for Lease

    • Contact for pricing
      10,100 SF

      Fairmont Parkway Retail Center

      High-traffic Pasadena retail space available.
      7333 Fairmont Pkwy, Pasadena, TX 77505
      View Details
    • $24 SF/Yr
      3,572 SF

      Pasadena Office Space Available

      Office space available for lease in Pasadena, Texas.
      5040-5044 Crenshaw Rd, Pasadena, TX 77505
      View Details
    • $1,600,000
      5,073 SF

      Freestanding Building in Pasadena, Texas

      Freestanding building suitable for retail, medical, or office uses.
      6015 Fairmont Pkwy, Pasadena, TX 77505
      View Details
    • Contact for pricing
      108,959 SF

      Pasadena Retail Center Investment

      High-traffic retail space available.
      4533 Sam Houston Pkwy, Pasadena, TX 77505
      View Details
    • Contact for pricing
      1,440 SF

      Retail Space in Pasadena, TX

      Retail space available for lease in Pasadena, Texas.
      5020 Fairmont Pkwy, Pasadena, TX 77505
      View Details
    • $13 SF/Yr
      21,600 SF

      Spencer Strip Center: Retail Opportunity

      Prime Retail Space, Multiple Suites Available
      6500 Spencer Hwy, Pasadena, TX 77505
      View Details
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    Pasadena, TX 77505-1944
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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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