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    12116 Nursery Drive Victoria, TX 77904

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    Claim this Listing
    For Sale
    $2,499,000

    COMMERCIAL - Victoria, TX

    Property size:
    13,086 SF
    Lot size:
    14.75 Acres
    Price / SF:
    $190/SF
    Added:
    Aug 12, 2025
    Days on Market:
    268
    Last Refresh:
    May 6 at 11:06 pm

    Property Features for 12116 Nursery Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Special Needs
    Security features
    Security
    Interior features
    Attic, PermanentAtticStairs, Storage
    Exterior features
    Lighting, Storage
    Standard status
    Active
    APN
    31172
    Size
    13,086 SF
    Lot size
    14.75 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    00760 S DE LEON ABST 76 TRACT 70, ACRES 14.75
    Tax Annual Amount
    19899

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric
    Water source
    Well, Private

    Building Details

    Year built
    2010
    Floors in Building
    1
    Flooring type
    Carpet, Laminate
    Building materials
    Stucco
    Additional Structures
    Storage

    We can help!

    Listing Contact
    The Zaplac Group

    Listing agent The Zaplac Group

    Listing office Coldwell Banker D'Ann Harper 5606 N Navarro St Suite 107, San Antonio, TX

    Listing date Aug 12, 2025

    MLS# 588938

    Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Versatile event spaces suitable for weddings, conferences, and trade shows.
    • Conveniently located just minutes outside Victoria, Texas city limits.
    • Tranquil, picturesque setting providing a beautiful backdrop.
    • State‑of‑the‑art technology and premium on‑site amenities.
    • Built in 2010 with stucco construction.
    • Laminate and carpet flooring.

    Overview

    Victoria Event Center For Sale

    Located just outside Victoria, Texas, Spring Creek Place Event Center provides a setting for various events, including weddings, corporate conferences, and trade shows. The property is situated in a tranquil environment. The venue includes event spaces, technology, and on-site amenities. The property is located at 12116 Nursery Drive, Victoria, TX 77904, and is approximately 13,086 square feet in size, situated on a 14.75-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Spring Creek Place ... Hotel & Motel

    Suggested Use

    Restaurant Auto Repair Shop Hotel & Motel Storage Facility Veterinary Clinic Arcade & Gaming Center Pet Grooming Service (Bike/Boat/Book/etc) Store Restaurant

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Victoria
    County
    Victoria
    State
    Texas
    Longitude
    -97.079361
    Latitude
    28.908051

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    FAQs

    What type of property is this?
    Wedding venue - Event center minutes from Victoria, Texas, on 14.75 acres.
    Where is this wedding venue located?
    The property is located at 12116 Nursery Drive Victoria, TX.
    What is the asking price?
    The asking price for this property is $2,499,000.
    What are key features of this property?
    This property features: Versatile event spaces suitable for weddings, conferences, and trade shows.; Conveniently located just minutes outside Victoria, Texas city limits.; Tranquil, picturesque setting providing a beautiful backdrop.
    (361) 541-4100
    We can help!
    Listing Contact
    The Zaplac Group
    Learn More
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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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