Unrestricted Magnolia Commercial
28631 FM 2978 Magnolia, TX 77354
28631 FM 2978, Magnolia, TX, 77354
$3,500,000
For Sale
$3,500,000
COMMERCIAL - Magnolia, TX
Property Size7,973 SF
Lot Size11.29 Acres
Price / SF$438.98
Days on Market346
Property Features for 28631 FM 2978
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 28631 FM 2978 900
- Size
- 7,973 SF
- Lot size
- 11.29 Acres
Building Details
- Year built
- 1995
Listing Agency
Keller Williams Realty Brazos Valley office
(979) 693-9100
2801 Earl Rudder Frwy S, College Station, TX
Listed by
Karryn Nichols · License #0711839
(979) 693-9100
Added: Aug 7, 2025 Checked: Jul 18 at 2:06 pm
MLS# 25008698
Copyright © 2026 Bryan-College Station Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 11.2895-acre tract is located in Magnolia, Texas, and features 414 feet of frontage on FM 2978 at Hardin Store Road. The property is unrestricted and includes two water wells and a commercial septic system. Currently, there are four businesses and a home situated on the property. The location is near the Hardin Store Road intersection, an area experiencing new development. The property is well-suited for various commercial uses, including multifamily housing, shopping centers, offices, fast food restaurants, and gas stations, presenting a capitalization opportunity.
Key Highlights
- Unrestricted 11.2895 AC Tract suitable for various commercial uses such as multifamily, shopping center, offices, fast food, and gas station.
- Located in Magnolia with 414 ft of frontage on 2978 at Hardin Store RD, close to the Hardin Store Rd Intersection.
- Includes two water wells and a commercial septic system.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $163.6k | $20.52 |
| − Vacancy | −$9.2k | −$1.15 |
| EGI | $154.4k | $19.37 |
| − OpEx | −$46.3k | −$5.81 |
| NOI | $108.1k | $13.56 |
7,973 SF · lease $20.52/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.54M
$1.35M – $1.80M
NOI $108,111 @ 7.0% cap · market cap 3.09%
Second Best
Office B
$1.34M
$1.17M – $1.56M
NOI $93,471 @ 7.0% cap · market cap 2.67%
Theoretical Best
Specialty Retail
$2.01M
$1.76M – $2.35M
NOI $140,896 @ 7.0% cap · market cap 4.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
2978 Transmission Mechanic ...
Auto Repair Shop
Car Outlet Inc.
Car Dealership
DES Solutions LLC
Car Wash
Bro's Auto Works
Auto Repair Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - 11.29 AC unrestricted commercial tract with existing businesses.
Where is this commercial land located?
The property is located at 28631 FM 2978 Magnolia, TX.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Unrestricted 11.2895 AC Tract suitable for various commercial uses such as multifamily, shopping center, offices, fast food, and gas station.; Located in Magnolia with 414 ft of frontage on 2978 at Hardin Store RD, close to the Hardin Store Rd Intersection.; Includes two water wells and a commercial septic system.
