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    7602 Fm 2004 Rd Hitchcock, TX 77563

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    For Sale
    $1,999,000

    Income-producing horse ranch with racetrack and stables in Hitchcock.

    Lot size:
    47.17 Acres

    Property Features for 7602 Fm 2004 Rd

    General Information

    Property type
    Farm and Ranch Properties
    Standard status
    Active
    Lot size
    47.17 Acres

    Building Details

    Year built
    1955

    We can help!

    Listing Contact
    J Coy Wheeler
    Source: Elliman

    Listing Agency: Keller Williams Realty Metropolitan Listing Agent: J Coy Wheeler

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

    Learn more

    Overview

    Hitchcock Horse Ranch on 47+ Acres

    This income-producing horse ranch is situated on over 47 acres in Hitchcock, Texas, located on FM 2004 near Santa Fe. The property features cross-fenced pastures with a small pond, multiple pens, and high fencing. A mile-long oval racetrack complements the equestrian facilities, which include a 280'x120' stable with a lighted covered arena and a 210'x55' stable. Additional amenities include a private tack room, bleachers, and a storage garage. The property is equipped with a well and septic system, and city water and sewer are potentially available, as they are located on Pigeon Drive. The back acreage is zoned Agricultural/Residential, while the frontage on FM 2004 is zoned General Commercial, and there are no other deed restrictions. The property has 155 feet of frontage on Pigeon Drive and 527 feet of frontage on FM 2004, accessible via a gated driveway called Avenue D. The location is approximately 6 miles from I-45/Gulf Freeway, Emmett F Lowery Expressway, College of the Mainland, HCA Houston Healthcare Mainland, and UTMB Health Urgent Care. Galveston's beaches, fishing, and boating are a 15-mile commute south on I-45, and Houston is a 35-mile drive north on I-45. Freeport refineries are also 35 miles away. The property is Ag-Exempt and located in Sante Fe ISD.
    Location Intelligence

    Current Use by Public Records

    Horsin Around Horseback Riding Service

    Suggested Use

    Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center HVAC Service Storage Facility Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Hitchcock
    County
    Galveston
    State
    Texas
    Longitude
    -95.0492569
    Latitude
    29.3354651

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    FAQs

    What type of property is this?
    Horse & equestrian property - Income-producing horse ranch with racetrack and stables in Hitchcock.
    Where is this horse & equestrian property located?
    The property is located at 7602 Fm 2004 Rd Hitchcock, TX.
    What is the asking price?
    The asking price for this property is $1,999,000.
    What are key features of this property?
    This property features: - Ag-Exempt Income-Producing 47+ Acre Horse Ranch; - Mile Long Oval Racetrack and Multiple Stables with Lighted Covered Arena; - Zoned Agricultural/Residential and General Commercial with No Deed Restrictions
    (832) 752-6487
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    7602 Fm 2004 Rd Hitchcock, TX 77563
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    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
    7602 Fm 2004 Rd Hitchcock, TX 77563
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    Listing Contact
    J Coy Wheeler
    (832) 752-6487 (713) 621-8001
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