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Property profile & analytics
FOR LEASE
Parking lots & garages
9400 Grogans Mill Rd Spring, TX 77380
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US83-2392416
For Lease
1 / 4
$18 SF/Yr
9400 Grogans Mill Rd, Spring, TX 77380
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Property summary
AI-generated overview
Prime office space available at Town Center Plaza, a Class A building in The Woodlands, Texas. This 41,166 square foot building offers multiple suites ranging from 1,975 to 4,500 contiguous square feet, with a total of 15,492 square feet currently vacant. Built in 2001, the property boasts updated common areas featuring new carpet, wall coverings, lighting, and ceiling tiles. Enhancements also include upgraded security cameras, an entry system, and a modernized fire and safety system. Enjoy convenient surface and garage parking, double-glazed "E" glass windows, a backup generator, and an energy management system. On-site storage is also available. The building's location in the heart of The Woodlands Town Center provides easy access to major amenities such as Market Street, Hughes Landing, The Waterway, and The Woodlands Mall. Excellent highway access is provided via Interstate 45, the Hardy Toll Road, and the Grand Parkway. This exceptional property offers a sophisticated and functional workspace in a highly desirable location. The building consists of five total suites.
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2001
Total area
41,166 SF
Lot
1.64 ac (71,613 SF)
Zoning code
6
APN
9721-10-00800
UPID
US83-2392416
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
-
Air Charters for Aerospace Industry Freight Service Logistics Company
-
Apex Roofing Roofing Company General Contractor
-
Cardinal Financial Company, Limited Partnership Loan Service Bank
-
The Woodlands Fencing Company General Contractor Construction Company
-
FedEx Drop Box Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.25M
Owner & transaction history
Interstate Terra Dev INC · 8 yrs held
Interstate Terra Dev INC
since 2018
3 recorded transactions
Zoning & alternative use
6 · Spring, TX
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 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
$1,245,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.25M
Range $1.12M – $1.37M · ±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
$30 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$78,412
Tax year 2024
Assessed value
$4,100,000
Assessed 2024
Previous assessed
$4,400,000
-6.8% YoY
Effective rate
1.91%
On assessed value
Assessed land
$2,148,390
Assessed improvement
$1,951,610
Land market value
$2,148,390
Improvement market value
$1,951,610
Total market value
$4,100,000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
2001
Heating
NONE
Cooling
NONE
Bathrooms
3
Total area
41,166 SF
Lot
1.64 ac (71,613 SF)
Zoning code
6
APN
9721-10-00800
UPID
US83-2392416
Jurisdiction
MONTGOMERY
Zoning & alternative use
6 · Spring, TX
Zoning 6 · permitted uses
6 · Spring, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spring. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2001
Heating
NONE
Cooling
Yes
Bathrooms
3
Lot
1.64 ac
Current owner
From public records · entity-resolved
Interstate Terra Dev INC
Entity
Mailing address
PO BOX 7344, WESTLAKE VILLAGE, CA 91359-7344
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2018
—
Interstate Terra Dev INC
—
Deed
related
$7,500,000 · Argentic R/e Fin LLC
—
—
Interstate Terra Dev INC
—
Deed Of Trust
related
$3,250,000 · Silvergate Bank
—
—
Interstate Terra Dev INC
—
Deed Of Trust
related
$7,500,000 · Argentic R/e Fin LLC
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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