Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3239 Blue Grass Dr Richmond, TX 77406

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $650,000

    5.78-acre property in Grand River community, Richmond, Texas.

    We can help!

    Listing Contact
    Jarvis Williford
    Source: Corcoran

    Listing Agent: Jarvis Williford

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Richmond Acreage in Grand River

    This 5.78-acre property is located in the Grand River community of Richmond, Texas. The land provides an opportunity to build a custom home. Situated near Highways 99, 359, and 90, the property allows access to schools, shops, restaurants, and nearby neighborhoods. The Sugar Land–Katy area is located a short distance away. Electricity and well water are available. The property is suitable for horses and equestrian activities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.75856
    Latitude
    29.61636

    Nearby Similar for Sale

    • $595,000
      2,940 SF

      Adaptable Building in Historic District

      Versatile commercial property in Richmond's vibrant Downtown Historic District.
      105 S 2Nd St, Richmond, TX 77469
      View Details
    • $5,096,000
      7,581 SF

      New Auto Shop NNN Lease

      New auto shop with a 20-year absolute NNN lease.
      7727 W Grand Pkwy S, Richmond, TX 77407
      View Details
    • $1,925,000

      5.35 Acre Horse Property

      Richmond, TX property with home, barn, and commercial potential.
      4304 Skinner Ln, Richmond, TX 77406
      View Details
    • $9,465,400

      Highway Accessible Fort Bend Land

      Unrestricted land with highway access near Rosenberg and Houston.
      Miller Rd St, Richmond, TX 77407
      View Details
    • $3,750,000
      3,872 SF

      Richmond Agricultural Property with Home

      10+ acre Richmond property featuring home, barns, arena.
      4148 Skinner Ln, Richmond, TX 77406
      View Details
    • $9,300,000

      Unrestricted Land with Equestrian Features

      58+ acres suitable for development or personal ranch use.
      7830 Fm 2977 Rd, Richmond, TX 77469
      View Details
    • $1,750,000

      Cleared Land Ready For Development

      Cleared land suitable for retail or gas station development.
      6511 Fm 1464 Rd, Richmond, TX 77407
      View Details
    • $990,000
      1,709 SF

      Country Estate Near Rosenberg, Texas

      Country estate in great condition near Rosenberg, Texas.
      8720 Janda Rd, Richmond, TX 77469
      View Details
    • $850,000

      Richmond, TX Investment Opportunity

      Richmond, TX property available for sale.
      6429 Fm 2218 Rd, Richmond, TX 77469
      View Details
    • Contact for pricing
      1,199 SF

      Grand Meadows Office Condos for Sale

      New Office Condos in Richmond, TX
      5151 Meadow Ranch Pkwy, Richmond, TX 77407
      View Details
    • Contact for pricing
      24,738 SF

      Richmond TX Multi-Use Facility

      Versatile 24,738 SF property, ideal for various uses.
      3421 Fm 359 Rd, Richmond, TX 77406
      View Details
    • $1,975,000
      6,541 SF

      Prime Richmond Retail Redevelopment

      Former bank, 6,541 SF, 2-acre lot.
      5250 Fm 1640 Rd, Richmond, TX 77469
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 5.78-acre property in Grand River community, Richmond, Texas.
    Where is this residential land & home lot located?
    The property is located at 3239 Blue Grass Dr Richmond, TX.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Large 5.78-acre property in the desirable Grand River community.; - Opportunity to build a custom home with the builder of your choice.; - Ideal for horses and equestrian activities.
    (713) 204-4913
    Request Owner's contact information
    3239 Blue Grass Dr Richmond, TX 77406
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3239 Blue Grass Dr
    Richmond, TX 77406
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    3239 Blue Grass Dr Richmond, TX 77406
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jarvis Williford
    Real Estate License ID: 0592480
    (713) 204-4913
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.