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    9400 Grogans Mill Rd Spring, TX 77380
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    Property profile & analytics

    9400 Grogans Mill Rd, Spring, TX 77380

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    • Parking lots & garages
    • 41,166 SF
    • 1.64 lot acres
    For Lease
    $20 SF/Yr
    View Listing →
    Class A Office Space Available For Lease
    $20 SF/Yr
    4,479 SF

    Class A Office Space Available

    Office suites for lease in The Woodlands Town Center.

    9400 Grogans Mill Road, Spring, TX
    View Listing
    Property ID
    US83-2392416
    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.
    Value Estimations
    $1,245,000
    Cap Rate Potential
    Location Intelligence

    Current Use by 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

    Property Details for 9400 Grogans Mill Rd

    Year built
    2001
    Lot size
    1.64 lot acres
    Zone code
    6
    Property type
    Parking lots & garages
    APN
    9721-10-00800
    APU
    97211000800

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,245,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Spring
    County
    Montgomery
    State
    Texas
    Longitude
    -95.4647
    Latitude
    30.1678
    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
    2024
    $78,412
    $2,148,390
    $1,951,610
    $4,100,000
    -
    $2,148,390
    $1,951,610
    $4,100,000

    Comparable in this City

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      166,580 SF

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      View Details
    • Value Estimation
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      462,021 SF

      Spring, TX 77380

      PARKING GARAGE, PARKING STRUCTURE
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    • Value Estimation
      $575,000
      14,538 SF

      26119 Interstate 45

      PARKING GARAGE, PARKING STRUCTURE
      26119 Interstate 45, Spring, TX 77380-1998
      View Details
    • Value Estimation
      $1,025,000
      108,279 SF

      2103 Research Frst Dr

      PARKING GARAGE, PARKING STRUCTURE
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      View Details
    • Value Estimation by Request
      6,660 SF

      25135 Sawdust Rd

      AUTO REPAIR, GARAGE
      25135 Sawdust Rd, Spring, TX 77380
      View Details
    • Value Estimation by Request
      7,170 SF

      24915 Interstate 45

      AUTO REPAIR, GARAGE
      24915 Interstate 45, Spring, TX 77380-3055
      View Details

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      Retail Space on Sawdust Road

      Retail space available for lease on Sawdust Rd, Spring, TX.
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      14,876 SF

      Rear-Loaded Flex Space with Docks

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      View Details
    View Listing
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    Spring, TX 77380
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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.

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    9400 Grogans Mill Rd, Spring, TX, 77380
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