Miniature Golf Property with
For Sale
$449,900
3102 Sam Houston Drive, Victoria, TX 77904
CommercialSale, Victoria, TX
Property Size3,000 SF
Lot Size2.03 Acres
Price / SF$149.97
Days on Market178
Property Features for 3102 Sam Houston Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
One To Three Acres, City Lot, Level, Open Lot
Directions
From Navarro, take Sam Houston for about 1 mile and the property is on the left.
Standard status
Active
APN
20397742 20409641
Size
3,000 SF
Lot size
2.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
VICTORIA PUTT-PUTT SUBD, BLOCK 1, LOT 1, ACRES 1.13 VISTA DEL SOL SUBD RESUBD NO 4, BLOCK 6, LOT 1RC, ACRES .8952
Tax Annual Amount
6887
Legal Description
VICTORIA PUTT-PUTT SUBD, BLOCK 1, LOT 1, ACRES 1.13 VISTA DEL SOL SUBD RESUBD NO 4, BLOCK 6, LOT 1RC, ACRES .8952
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
miniature golf course
Building Details
Year built
2015
Floors in Building
1
Flooring type
Concrete
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Coldwell Banker D'Ann Harper
(210) 483-7000
Listed By:
The Zaplac Group
(361) 541-4100
Added: Feb 26
Changed: Aug 20
Last Checked: Aug 23 at 8:06PM
MLS# 605660
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.
Investment Insights
Based on property information with market context.
This 2.03-acre property includes an on-site miniature golf course and a 3,000-square-foot climate-controlled metal building constructed in 2015. The metal-sided structure has concrete flooring, a metal roof, three large overhead doors, public water, and public sewer. The building is described as suitable for commercial, warehouse, retail, or flex-space uses.
Access and frontage are provided from both Sam Houston Drive and Monterrey Drive in Victoria, Texas. The site also offers parking and storage areas, along with room for additional buildings or other development. The existing miniature golf course provides a distinct recreational component within the overall commercial property.
Access and frontage are provided from both Sam Houston Drive and Monterrey Drive in Victoria, Texas. The site also offers parking and storage areas, along with room for additional buildings or other development. The existing miniature golf course provides a distinct recreational component within the overall commercial property.
Key Highlights
- 2.03‑acre property with an on‑site miniature golf course
- 3,000‑square‑foot climate‑controlled metal building
- Three large overhead doors and concrete flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,060
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$421,200
$421.2K
Cap Rate 7%
$300,857
$300.9K
Cap Rate 9%
$234,000
$234.0K
Market Conditions
NOI Build-Up for 3,000 SF
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.
Gross rent
$36.0K $12.00/SF
− Vacancy
−$3.6K −$1.20/SF
EGI
$32.4K $10.80/SF
− OpEx
−$11.3K −$3.78/SF
NOI
$21.1K $7.02/SF
Area
Victoria County, TX
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$421,200
Cap Rate 7%
$300,857
Cap Rate 9%
$234,000
Alternative Uses
Best Use
Flex RnD
$300.9K
$263.3K – $351.0K
NOI $21,060 @ 7.0% cap · market cap 4.68%
Second Best
Warehouse
$268.0K
$234.5K – $312.7K
NOI $18,759 @ 7.0% cap · market cap 4.17%
Theoretical Best
Multifamily LT 5
$32.96M
$28.84M – $38.45M
NOI $2,307,070 @ 7.0% cap · market cap 512.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
875
Businesses Nearby
Explore this area
Business Placement
Demographics for 77904, TX
29,646
Population
12,822
Households
2.3
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
109.9 sq mi
ZIP Area
270
Density / Sq Mi
$86,821
Median Household Income
$44,632
Median Earnings
$1,272
Median Rent
$237,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Golf course & driving range - Includes a climate-controlled metal building, overhead doors, public utilities, and access from two streets.
Where is this golf course & driving range located?
The property is located at 3102 Sam Houston Drive Victoria, TX.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 2.03‑acre property with an on‑site miniature golf course; 3,000‑square‑foot climate‑controlled metal building; Three large overhead doors and concrete flooring
