Your AI Navigator in Commercial Real Estate
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

    9 Mile Rd Galveston, TX 77554

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $995,000

    Land available for purchase in Galveston, Texas.

    Lot size:
    6.92 Acres

    Property Features for 9 Mile Rd

    General Information

    Lot size
    6.92 Acres
    Source: Moodyscre

    Listing Agent: Hoan Le

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

    Overview

    Land For Sale Galveston, TX

    This land is available for purchase in Galveston, Texas.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Law Firm Spa & Massage Pawn Shop Barber Shop Home Appliance Store Travel Agency Dry Cleaner

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

    Location Insight

    • Map
    • Local Demand
    City
    Galveston
    County
    Galveston
    State
    Texas
    Longitude
    -94.903782
    Latitude
    29.23806

    Nearby Similar for Sale

    • $950,000
      24,576 SF

      Galveston Church Building For Sale

      Historic church building available in Galveston, Texas.
      3501 Broadway St, Galveston, TX 77550
      View Details
    • $900,000
      27,234 SF

      Galveston Industrial Buildings For Sale

      Industrial property in Galveston featuring multiple buildings and significant land.
      320 77Th St, Galveston, TX 77554
      View Details
    • $2,500,000
      7,103 SF

      Galveston Commercial Property for Sale

      Two-acre commercial property in Galveston's Midtown with endless possibilities.
      5717 Stewart Rd, Galveston, TX 77551
      View Details
    • $3,200,000
      20,640 SF

      Historic Mixed-Use Building, Galveston

      Elegant, three-story building with retail and residential units.
      2119 Strand St, Galveston, TX 77550
      View Details
    • $988,000
      5,228 SF

      Galveston Commercial Building For Sale

      Spacious building with ample parking, near Seawall Blvd.
      1810 23Rd St, Galveston, TX 77550
      View Details
    • $1,450,000
      18,192 SF

      Galveston Mixed-Use Home/Office Building

      Unique mixed-use property in downtown Galveston with residential and office space.
      2415 Church St, Galveston, TX 77550
      View Details
    • $689,000
      1,192 SF

      Galveston Duplex Near Seawall

      Remodeled duplex near the Seawall, move-in ready, potential income property.
      2811 Q 1/2, Galveston, TX 77550
      View Details
    • $275,000
      1,688 SF

      Galveston Duplex Near Beach

      Revenue-producing duplex near the beach, shopping, and restaurants.
      2226 51St St, Galveston, TX 77551
      View Details
    • $270,000
      2,448 SF

      Galveston Duplex Near Beach

      Revenue-producing duplex with easy access to amenities and the beach.
      1124 47Th St, Galveston, TX 77551
      View Details
    • $365,000
      1,020 SF

      Galveston Multifamily Property Near Beach

      Multifamily property featuring a house and duplex near the beach.
      5224 Avenue M 1/2, Galveston, TX 77550
      View Details
    • $209,500
      782 SF

      Galveston Cottages Investment Opportunity

      Two cottages on one lot near Galveston's amenities.
      4413 Bernardo De Galvez Ave, Galveston, TX 77550
      View Details
    • $1,585,000
      3,840 SF

      Galveston Mixed-Use Retail Opportunity

      Historic retail building with additional residential property on large lot.
      4302 Broadway St, Galveston, TX 77550
      View Details

    FAQs

    What type of property is this?
    Land - Land available for purchase in Galveston, Texas.
    Where is this land located?
    The property is located at 9 Mile Rd Galveston, TX.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: - Land available for purchase; - Located in Galveston, Texas
    (713) 577-1600
    Request Owner's contact information
    9 Mile Rd Galveston, TX 77554
    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.
    9 Mile Rd
    Galveston, TX 77554
    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.

    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
    9 Mile Rd Galveston, TX 77554
    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
    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.