Cleared Lot with Covered
3502 Pinemont Drive Houston, TX 77018
3502 Pinemont Drive, Houston, TX, 77018
$865,000
For Sale
$865,000
0.88-acre lot with covered storage near major highways.
Property Size6,000 SF
Lot Size0.88 Acres
Price / SF$144.17
Days on Market637
Property Features for 3502 Pinemont Drive
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Lot size
- 0.88 Acres
- Property subtype
- Land or Vacant Lot
Listing Agency
TEXAS SIGNATURE REALTY
(832) 876-2093
Listed by
MARIA CASTELLANOS
Source
Corcoran
Added: Oct 20, 2024 Checked: Jul 17 at 10:58 pm
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 TEXAS SIGNATURE REALTY
Investment Insights
Based on property information with market context.
This 0.88-acre lot features approximately 6,000 sq ft of covered outdoor storage within a stabilized, fenced, and gated yard. The property is cleared and level. Situated in the Oak Forest / Garden Oaks area, the location offers convenient access to Loop 610, I-45, and US 290. The surrounding area features new townhomes and commercial construction. The property sits on a redeveloped street with upgraded drainage completed over the past five years. According to the owner, the property never flooded. The surface is stabilized and ready for immediate use. It is located in FEMA Zone AE, and the buyer is advised to verify requirements. The property is suitable for contractors, small businesses, storage, or future redevelopment.
Key Highlights
- Excellent location near Loop 610, I‑45, and US 290 in the Oak Forest / Garden Oaks area.
- Large 0.88‑acre cleared and stabilized lot, ready for immediate use.
- Includes approximately 6,000 sq ft of covered outdoor storage.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.6k | $9.60 |
| − Vacancy | −$5.6k | −$0.94 |
| EGI | $52.0k | $8.66 |
| − OpEx | −$7.8k | −$1.30 |
| NOI | $44.2k | $7.36 |
6,000 SF · lease $9.60/SF/yr · vacancy 9.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$630.9K
$552.0K – $736.0K
NOI $44,162 @ 7.0% cap · market cap 5.11%
Second Best
Industrial
$483.3K
$422.9K – $563.9K
NOI $33,831 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,000 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
R E Campbell ...
General Contractor
Formwork International
Building Supply
FFI Rentals
(Bike/Boat/Book/etc) Store
S & A Creative Granite ...
General Contractor
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FAQs
What type of property is this?
Commercial land - 0.88-acre lot with covered storage near major highways.
Where is this commercial land located?
The property is located at 3502 Pinemont Drive Houston, TX.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Excellent location near Loop 610, I‑45, and US 290 in the Oak Forest / Garden Oaks area.; Large 0.88‑acre cleared and stabilized lot, ready for immediate use.; Includes approximately 6,000 sq ft of covered outdoor storage.
