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

    32023 Courtney Rd Waller, TX 77484

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $6,750,000

    177-acre Waller County ranch featuring main and guest houses.

    Lot size:
    177.35 Acres

    Property Features for 32023 Courtney Rd

    General Information

    Lot size
    177.35 Acres

    Building Details

    Year built
    2019

    We can help!

    Listing Contact
    Melissa Hegemeyer
    Source: Elliman

    Listing Agent: Melissa Hegemeyer

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

    Learn more

    Property Insight Report

    Overview

    Waller County Ranch with Residences

    This 177.354-acre ranch is located in northwestern Waller County. The property includes a 4,050 sq ft main residence built in 2019 and a 2,458 sq ft guest house. The land features mature trees, three ponds, and a creek, creating an environment suitable for native Texas wildlife. The property is zoned for Waller ISD and has an AG exemption for wildlife management, resulting in a favorable tax rate. It has road frontage on FM 2979 and Courtney Road, providing connections for travel to North Texas, Austin, and Houston.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Spa & Massage Hair Salon Nail Salon Building Supply Gym & Fitness Barber Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Waller
    County
    Harris
    State
    Texas
    Longitude
    -95.9497
    Latitude
    30.0958

    Nearby Similar for Sale

    • $535,350
      Pending

      Waller, TX New Manufactured Home

      New 3 bed/2 bath manufactured home on 10 acres.
      2 Bell Rd, Waller, TX 77484
      View Details
    • $2,475,000
      11,250 SF

      Refurbished Waller Building with Expansion Potential

      Multi-purpose property in downtown Waller with immediate cash flow.
      2302 Main St, Waller, TX 77484
      View Details
    • $5,400,000
      12,469 SF

      Magnolia Manor Estate on 67 Acres

      Upscale estate with retreat amenities, suitable for various uses.
      26250 Riley Rd, Waller, TX 77484
      View Details
    • $1,289,000

      Farmhouse with Renovated In-Law Suite

      16-acre farmhouse with in-law suite and equestrian facilities.
      10306 Schmidt Rd, Waller, TX 77484
      View Details
    • $3,500,000

      Ag-Exempt Acres for Agricultural Use

      40 acres with cross-fenced pastures, wells, and barndo.
      15610 Penick Rd, Waller, TX 77484
      View Details
    • $899,900

      Waller County Country Estate

      9.2-acre estate with a two-story home and equestrian facilities.
      31928 Reids Prairie Rd, Waller, TX 77484
      View Details
    • $1,550,000
      2,491 SF

      Texas Ranch with Stocked Pond

      15-acre ranch featuring a pond, pool, and versatile outbuildings.
      31229 Rochen Rd, Waller, TX 77484
      View Details
    • $1,250,000

      Private Lakefront Estate on 10 Acres

      A rare retreat with nature, privacy, and elegant design.
      1024 Colibri Lk Ln, Waller, TX 77484
      View Details
    • $289,000
      1,001 SF

      Remodeled Home on Large Lot

      Newly remodeled home on a large, private, unrestricted lot.
      17411 Rolling Hill Ln, Waller, TX 77484
      View Details
    • $1,850,000
      4,283 SF

      Unrestricted Acreage with Warehouse

      Multiuse property featuring warehouse, main home, and guest home.
      20515 Kickapoo Rd, Waller, TX 77484
      View Details
    • $1,260,000
      1,979 SF

      Timber-Framed Estate on Four Acres

      Luxury timber-framed estate with guest house and insulated barn.
      30338 Riley Rd, Waller, TX 77484
      View Details
    • $1,400,000

      Waller County Country Retreat

      Country retreat near Houston with no restrictions and ag exempt.
      36239 Cochran Rd, Waller, TX 77484
      View Details

    FAQs

    What type of property is this?
    Ranch - 177-acre Waller County ranch featuring main and guest houses.
    Where is this ranch located?
    The property is located at 32023 Courtney Rd Waller, TX.
    What is the asking price?
    The asking price for this property is $6,750,000.
    What are key features of this property?
    This property features: - 177.354-acre ranch in desirable northwestern Waller County.; - Enjoy a **4,050 sq ft main residence built in 2019 and a 2,458 sq ft guest house.**; - Qualifies for AG exemption for wildlife management, resulting in a favorable tax rate.
    (281) 744-8175
    Request Owner's contact information
    32023 Courtney Rd Waller, TX 77484
    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.
    32023 Courtney Rd
    Waller, TX 77484
    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
    32023 Courtney Rd Waller, TX 77484
    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
    Melissa Hegemeyer
    Real Estate License ID: 0636539
    (281) 744-8175
    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.