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

    23019 State Hwy, Unit 242 Splendora, TX

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-traffic land suitable for restaurant, retail, or medical office.

    Lot size:
    10.56 Acres

    Property Features for 23019 State Hwy

    General Information

    Lot size
    10.56 Acres

    We can help!

    Listing Contact
    Anne Vickery
    Source: Moodyscre

    Listing Agent: Anne Vickery

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

    Learn more

    Overview

    Highway Frontage Commercial Land

    This commercial land offers 662 feet of frontage on a high-traffic highway. The property is located in an Opportunity Zone and is suitable for a restaurant, retail space, or medical office. It provides access to amenities such as Big Rivers Water Park and the Grand Parkway RV Resort. The location benefits from a daily traffic count of 79,819 vehicles passing US 59 and 8,509 vehicles along the highway. Situated approximately 5.5 miles from Highway 99, 15 miles from IAH Bush Airport, and 30 minutes from Downtown Houston, the property offers accessibility and growth potential.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Splendora
    County
    Montgomery
    State
    Texas
    Longitude
    -95.1610438
    Latitude
    30.2329914

    Nearby Similar for Sale

    • $394,999

      Multifamily Property Near Downtown Splendora

      Multifamily property suitable for commercial and residential use.
      26752 Diamond Sq, Splendora, TX 77372
      View Details
    • $3,500,000
      22,000 SF

      Splendora Industrial Property For Sale

      22,000 SF office/warehouse on 3.01 acres with highway frontage.
      12586 Highway 59, Splendora, TX 77372
      View Details
    • $200,000
      1,216 SF

      Updated Mobile Home on Acre Lot

      Move-in ready mobile home with recent updates on a full acre.
      27655 County Road 3743, Splendora, TX 77372
      View Details
    • $299,500

      New Duplex with Rental Potential

      Modern duplex built in 2025, ideal for investors.
      26471 Joy Village Dr, Splendora, TX 77372
      View Details
    • $415,000

      Splendora Duplex with City Utilities

      Duplex with easy access to I-69 and city utilities.
      25528 Ipes Rd, Splendora, TX 77372
      View Details
    • $599,000
      4,800 SF

      Retail Property in Splendora, TX

      Retail property with 4,800 square feet of space for sale.
      14042 Old Highway 59 N, Splendora, TX 77372
      View Details
    • Contact for pricing

      Splendora Retail Pad Sites

      Prime Pad Sites, US-59, Texas
      14560 Us-59 Bus, Splendora, TX 77372
      View Details
    • $593,800
      130,680 SF

      Prime Splendora Retail Property

      3-Acre Convenience Store & Gas Station
      28585 Fm 2090 Rd, Splendora, TX 77372
      View Details
    • $999,000

      Splendora Truck Stop - $999K

      Prime Food Truck Haven, I-Access
      24900 Hill And Dale Ave, Splendora, TX 77372
      View Details
    • $953,768

      Splendora Hotel & Restaurant Investment

      Prime Hwy 59 location, high-growth area.
      14148 Old Hwy 59N, Splendora, TX 77372
      View Details

    FAQs

    What type of property is this?
    Commercial land - High-traffic land suitable for restaurant, retail, or medical office.
    Where is this commercial land located?
    The property is located at 23019 State Hwy, Unit 242 Splendora, TX.
    What are key features of this property?
    This property features: - 662 feet of frontage on high-traffic Hwy 242; - High daily traffic count: 79,819 vehicles on US 59 and 8,509 on Hwy 242; - Located in an Opportunity Zone
    (281) 940-7253
    Request Owner's contact information
    23019 State Hwy, Unit 242 Splendora, TX
    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.
    23019 State Hwy, Unit 242
    Splendora, TX
    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
    23019 State Hwy, Unit 242 Splendora, TX
    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
    Anne Vickery
    (281) 940-7253
    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.