Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Versatile Property with Warehouse Title is generated by Realmo AI

    21405 Fm 787 Road W, Cleveland, TX 77327

    View on Map
    Claim this Listing
    For Sale
    $585,000

    5.54 acres with warehouse, office, and unique features.

    Type:Land or Vacant Lot
    Property size:
    8,576 SF
    Lot size:
    5.55 Acres
    Price / SF:
    $68/SF
    Added:
    Feb 17, 2025
    Days on Market:
    470
    Last Refresh:
    May 11 at 12:22 am

    Property Features for 21405 Fm 787 Road W

    General Information

    Standard status
    Active
    Size
    8,576 SF
    Lot size
    5.55 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    DANA OLEJNICZAK

    Listing agent DANA OLEJNICZAK

    Listing office MARTHA TURNER SOTHEBY'S INTERNATIONAL REALTY - KINGWOOD

    Listing date Feb 17, 2025

    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 MARTHA TURNER SOTHEBY'S INTERNATIONAL REALTY - KINGWOOD

    HighLights

    • 5.54 acres with 465 feet of frontage on FM 787 offers significant development or business opportunities.
    • 8,576 sq. ft. warehouse with 14‑ft drive‑through doors and heavy‑duty shelving.
    • Includes a 3,977 sq. ft. former sawmill building with storage.
    • 924 sq. ft. modular home (3 beds, 2 baths) or 3 office option, secured by a 6‑ft fenced area.
    • On‑site retention pond can double as a fishing pond.
    • Unique feature: Sawmill's rear metal siding originates from Minute Maid Park’s remodel.

    Overview

    This property offers an incredible opportunity with 5.54 acres and 465 feet of frontage. It includes an 8,576 sq. ft. warehouse featuring 14-ft doors on both sides, allowing large truck drive-through access. Inside the warehouse, there is office space, 1.5 baths with a stand-up shower, a 20x18 tool room, and additional flex space above suitable for office or storage. The warehouse is equipped with steel pipe shelving along the walls, ideal for heavy storage. Additionally, there is a 3,977 sq. ft. former sawmill building, which includes a 255 sq. ft. storage room and an additional 238 sq. ft. of separate storage. The property also features a 924 sq. ft. modular home with 3 beds, 2 baths, and a full kitchen, secured by a 6-ft fenced area with lockable access, which can also serve as a 3 office option. A retention pond is located on site and can also be used as a fishing pond. The sawmill's rear metal siding originates from Minute Maid Park’s remodel.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mc Duffie Trucking ... Trucking Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Depot Storage — 1011 E Houston St, Cleveland, TX 77327

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Liberty
    State
    Texas
    Longitude
    -95.0696
    Latitude
    30.3497

    Nearby Similar for Sale

    • $75,900

      Land for Custom Dream Property

      Land offers freedom, convenience, and modern country living.
      013 CR 2307, Cleveland, TX 77327
      View Details
    • $79,900

      Spacious Land in Cleveland, TX

      1.6 acre lot ideal for home, investment, or getaway.
      120 Eagle Creek Drive, Cleveland, TX 77328
      View Details
    • $211,999

      Residential Land in Tarkington Meadows

      5.47 acre lot in Cleveland, TX, ready for development.
      160 County Road 2267, Cleveland, TX 77327
      View Details
    • $840,000

      Prime Freeway Frontage Land

      3.437 acres with easy freeway access in Cleveland, TX.
      301 Birch Street, Cleveland, TX 77327
      View Details
    • $169,900

      Commercial Lot on US-59

      One-acre commercial lot in Cleveland, TX with US-59 access.
      1190 Highway 59 S, Cleveland, TX 77327
      View Details
    • $675,000
      2,004 SF

      Ranch Home on 8.5 Acres

      Custom-built ranch home on a private 8.5-acre lot.
      2126 Bambi Court, Cleveland, TX 77328
      View Details
    • $8,398,000

      323 Acres Development Transition Land

      Unimproved land with high traffic location in fast-growing Cleveland, TX.
      000 FM 1010, Cleveland, TX 77327
      View Details
    • $269,000
      4,927 SF

      Versatile Facility with Event Potential

      Adaptable 5,000 sq ft facility suitable for various purposes.
      301 S Fenner Ave, Cleveland, TX
      View Details
    • $140,000

      Cleveland Land Parcel For Sale

      0.51-acre parcel suitable for residential or commercial use.
      279 & 281 Road 5513, Cleveland, TX 77327
      View Details
    • $895,000
      6,917 SF

      Turnkey Event Venue For Sale

      Breathtaking property and turnkey event experience ready for unforgettable gatherings.
      105 County Road 2239, Cleveland, TX 77327
      View Details
    • $240,000

      10 Acres Homesite in Cleveland, TX

      Gorgeous 10-acre homesite in Peach Creek Plantation.
      3890 N Duck Creek Road, Cleveland, TX 77328
      View Details
    • $450,300

      Commercial Land on Highway 105

      1.29 acres on Highway 105 in Cleveland, Texas.
      14695 Highway 105, Cleveland, TX 77327
      View Details

    FAQs

    What type of property is this?
    Warehouse - 5.54 acres with warehouse, office, and unique features.
    Where is this warehouse located?
    The property is located at 21405 Fm 787 Road W Cleveland, TX.
    What is the asking price?
    The asking price for this property is $585,000.
    What are key features of this property?
    This property features: 5.54 acres with 465 feet of frontage on FM 787 offers significant development or business opportunities.; 8,576 sq. ft. warehouse with 14‑ft drive‑through doors and heavy‑duty shelving.; Includes a 3,977 sq. ft. former sawmill building with storage.
    (281) 359-6800
    We can help!
    Listing Contact
    DANA OLEJNICZAK
    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

    Thank You for Inquiry
    21405 Fm 787 Road W, Cleveland, TX 77327
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!