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

    3113 Grace Lane Highlands, TX 77562

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $790,000

    5+/- acre tract suitable for various development projects.

    Type:Land or Vacant Lot
    Property size:
    544 SF
    Lot size:
    5.00 Acres
    Added:
    Sep 27, 2024
    Days on Market:
    574
    Last Refresh:
    Apr 5 at 9:47 pm

    Property Features for 3113 Grace Lane

    General Information

    Standard status
    Active
    Size
    544 SF
    Lot size
    5.00 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    MARK COYLE
    MARK COYLE

    Listing agent MARK COYLE License #0711361

    Listing office RE/MAX LEADING EDGE

    Listing date Sep 27, 2024

    Source Corcoran

    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 RE/MAX LEADING EDGE

    Overview

    5-Acre Tract Development Opportunity

    This 5+/- acre tract presents a development opportunity for various purposes, including RV, storage, residential subdivision, commercial, multi-family, retail, motel/hotel, warehouse, or light industrial use. The property offers the potential for subdivision and rebranding. Alternatively, it could be used to build a ranch. The tract features 357 feet of frontage on Grace Lane and is approximately 626 feet deep. It is located in an X flood zone. An adjacent 5.65-acre property is also available, featuring a 2800+ square foot house with 5 beds, 2 fireplaces, a 50-year roof, upgraded windows with a lifetime warranty, a saltwater swimming pool, a 72' x 34' office (544 sq/ft) building/4 car metal building, equipment building, tractor shed and an onsite pond with 388' Highway frontage on Main Street and 656' of adjoining frontage on Grace Lane.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Building Supply Auto Repair Shop Big Box & Wholesale Store Hotel & Motel Kitchen & Bath Showroom Storage Facility Furniture & Home Goods Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Highlands
    County
    Harris
    State
    Texas
    Longitude
    -95.0611
    Latitude
    29.8466

    Nearby Similar for Sale

    • $170,000

      Spacious Highlands Lot Opportunity

      Generous lot for custom home in Highlands, Texas.
      201 South 5th Street, Highlands, TX 77562
      View Details
    • $1,375,000

      9.54 Acres Investment Opportunity

      Income-producing trailers with room for more in growing Highlands, Texas.
      1300 N Battlebell Road, Highlands, TX 77562
      View Details
    • $345,000
      2,172 SF

      Highlands Restaurant Property For Sale

      Restaurant property in Highlands with frontage on S Main St.
      1401 S Main St, Highlands, TX
      View Details
    • $2,250,000
      5,082 SF

      Mixed-Use Property in Highlands, TX

      Income-generating property with laundromat, office space, RVs, truck yard.
      501 MAIN ST, Highlands, TX
      View Details
    • $1,000,000

      Prime Acreage Near the City

      Acreage available for above-ground development near the city.
      001 Steele Road, Highlands, TX 77562
      View Details
    • $319,000

      5 Acres Ready to Build

      Land available less than 30 minutes from Downtown Houston.
      1102 N Battlebell Road, Highlands, TX 77562
      View Details
    • $550,000

      27-Unit Industrial RV Park

      Established 27-unit RV park in Highlands, Texas.
      803 North Main Street, Highlands, TX 77562
      View Details
    • $100,000

      Land For Sale

      Land available for sale in Highlands, Texas.
      0 Barbers Hill Road, Highlands, TX 77532
      View Details
    • $239,900

      Unrestricted Land for Dream Home

      4.6-acre land parcel suitable for a home or mini-ranch.
      3306 1/2 Barbers Hill Road, Highlands, TX 77562
      View Details
    • $1,660,000

      Highlands, Texas: Development Opportunity

      10+ acres in Highlands, TX with development potential.
      2222 N Main St, Highlands, TX
      View Details
    • $850,000
      2,848 SF

      Highlands Commercial Property with Drive-Through

      Three-property deal: building, parking lot, and vacant lot.
      217 N Main St, Highlands, TX 77562
      View Details
    • $95,000

      Land For Sale

      Land available for purchase.
      2501 Barbers Hill Road, Highlands, TX 77562
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5+/- acre tract suitable for various development projects.
    Where is this commercial land located?
    The property is located at 3113 Grace Lane Highlands, TX.
    What is the asking price?
    The asking price for this property is $790,000.
    What are key features of this property?
    This property features: Versatile 5‑acre tract suitable for RV, storage, residential, commercial, multi‑family, retail, motel/hotel, warehouse, or light industrial development.; Located in an X FLOOD ZONE.; 357' of frontage on Grace Lane.
    (409) 744-3300
    We can help!
    Listing Contact
    MARK COYLE
    MARK COYLE
    Real Estate License ID: 0711361
    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!