Add Listing
    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

    Spencer Highway La Porte, TX

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    3.17 AC site for retail or medical development.

    Type:LAND
    Lot size:
    3.17 Acres
    Added:
    Apr 27, 2021
    Days on Market:
    1801
    Last Refresh:
    Mar 29 at 10:09 pm

    Property Features for Spencer Highway

    General Information

    Standard status
    Active
    Lot size
    3.17 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Neal Thomson
    Neal Thomson

    Listing agent Neal Thomson License #600513

    Listing office NewQuest Properties

    Listing date Apr 27, 2021

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of NewQuest Properties

    Overview

    La Porte Development Opportunity

    This 3.17-acre site presents an opportunity for retail or medical development in La Porte. Situated on Spencer Highway, the location is one mile west of 146, which is planned to become the future Grand Parkway. The site benefits from high density and good visibility. La Porte Municipal Airport is located a quarter mile to the west. The property is adjacent to Beazer Homes’ Morgan’s Landing development, which is currently in lot delivery and will have 645 total lots at buildout. The multi-family tract near the corner of Bay Area Boulevard and Spencer Highway has been sold. This property is located within a TIRZ.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    La Porte
    County
    Harris
    State
    Texas
    Longitude
    -95.0248
    Latitude
    29.6525

    Nearby Similar for Sale

    • $930,000

      Renovated Office Building Near Highway

      Recently renovated office building near Houston Ship Channel - Industrial Hub.
      903 S. 8th St. , La Porte, TX 77571
      View Details
    • $699,000
      5,040 SF

      La Porte Office/Retail Complex

      Free-standing office/retail complex in downtown La Porte, Texas.
      110 N Broadway St, La Porte, TX
      View Details
    • $338,400

      Turnkey Duplex in La Porte

      Upgraded duplex on a spacious lot with development potential.
      317-319 E B St, La Porte, TX 77571
      View Details
    • $3,295,000
      2,560 SF

      Equestrian Estate on 15 Acres

      Premier equestrian estate with luxury home and professional-grade amenities.
      10431 N P Street, La Porte, TX 77571
      View Details
    • $499,000

      Commercial Land with Rental Property

      One-acre commercial property with existing rental and R3 zoning.
      1400 S Broadway St, La Porte, TX
      View Details
    • $545,000
      3,000 SF

      Updated Auto Shop For Sale

      Recently updated auto shop with new paint booth and lift.
      1307 W Main St, La Porte, TX
      View Details
    • $650,000

      La Porte Agricultural Land

      Approximately 9.58 acres of AG exempt land for sale.
      11026 Bois D Arc Street, La Porte, TX 77571
      View Details
    • $750,000

      Wooded Land Near Broadway

      Wooded property near Broadway, planned for subdivision development.
      00 McCabe Road, La Porte, TX 77571
      View Details
    • $930,000
      6,000 SF

      La Porte Office Building For Sale

      6,000 SF office building available in La Porte, TX.
      903 S 8th St, La Porte, TX
      View Details
    • Contact for pricing
      4,760 SF

      Two-Building Office Warehouse Property

      Two-building office warehouse totaling 9,520 SF, available for sale.
      520-532 N 8th Ave, La Porte, TX
      View Details
    • Contact for pricing
      35 SF

      Industrial Land in Battleground District

      35-acre industrial land with robust utilities and highway access.
      11701 Strang Road, La Porte, TX, 77571
      View Details
    • $110,000

      Land For Sale

      Land available for sale in La Porte, Texas.
      3031 Highway 146 S, La Porte, TX
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.17 AC site for retail or medical development.
    Where is this commercial land located?
    The property is located at Spencer Highway La Porte, TX.
    What are key features of this property?
    This property features: Excellent retail or medical development opportunity.; Located on Spencer Highway, 1 mile west of 146, future Grand Parkway.; High density and great visibility.
    (713) 438-9513
    We can help!
    Listing Contact
    Neal Thomson
    Neal Thomson
    Real Estate License ID: 600513
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!