Unrestricted Land with Office
For Sale
Contact for pricing
23111 FM 1462, Damon, TX 77430
65-acre unrestricted site with commercial building near Grand Parkway.
Property Size9,562 SF
Lot Size65.00 Acres
Price / SF$277.14
Days on Market464
Property Features for 23111 FM 1462
General Information
Standard status
Active
Size
9,562 SF
Lot size
65.00 Acres
Property subtype
Mixed Use
Listing Agency:
Keller Williams Southwest
Listed By:
Lyle Muegge · License #477785
Source:
Crexi
Added: May 9, 2025
Changed: Aug 14
Last Checked: Aug 14 at 7:24AM
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 Keller Williams Southwest
Investment Insights
Based on property information with market context.
This property features a 65+/- acre unrestricted site improved with a 9,562 square foot commercial office building, a barndominium, and over 2,000 trees. Located on FM 1462 in Fort Bend County, the property is zoned to Needville ISD. The tract is approximately 5.5 miles south of the proposed Grand Parkway/Hwy 99 and 7.5 miles from the Austin Point subdivision. It is situated about 300 feet from the intersection of FM 762 and FM 1462, which connects Hwy 36 and Hwy 288. The land includes over 2,000 trees, two large groundwater-filled ponds with fountains, and a 4-inch water well with a 500-gallon tank. The rear 25+/- acres are fully fenced. The property has an AG EXEMPT status and, according to FEMA flood maps, is primarily outside the flood hazard area, with approximately 1+/- acres in the southwest corner located in the 500-year flood zone. This property is suitable for a homesite or residential/commercial development.
Key Highlights
- Prime 65+/- acre UNRESTRICTED site ideal for homesite or residential/commercial development.
- Includes a 9,562 SF commercial office building and barndominium.
- Strategic location: just 5.5+/- miles south of the proposed Grand Parkway/Hwy 99.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,887
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,577,740
$1.6M
Cap Rate 7%
$1,126,957
$1.1M
Cap Rate 9%
$876,522
$876.5K
Market Conditions
NOI Build-Up for 9,562 SF
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.
Gross rent
$143.4K $15.00/SF
− Vacancy
−$17.2K −$1.80/SF
EGI
$126.2K $13.20/SF
− OpEx
−$47.3K −$4.95/SF
NOI
$78.9K $8.25/SF
Area
Brazoria County, TX
Vacancy
12.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,577,740
Cap Rate 7%
$1,126,957
Cap Rate 9%
$876,522
Alternative Uses
Best Use
Mixed Use
$1.13M
$986.1K – $1.31M
NOI $78,887 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$119.12M
$104.23M – $138.97M
NOI $8,338,340 @ 7.0% cap · market cap 314.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 77430, TX
2,224
Population
736
Households
3
Avg Household Size
45
Median Age
36%
College-Educated
81%
High-School Grad
116.5 sq mi
ZIP Area
19
Density / Sq Mi
$94,583
Median Household Income
$60,682
Median Earnings
$1,803
Median Rent
$329,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 65-acre unrestricted site with commercial building near Grand Parkway.
Where is this mixed-use property located?
The property is located at 23111 FM 1462 Damon, TX.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Prime 65+/- acre UNRESTRICTED site ideal for homesite or residential/commercial development.; Includes a 9,562 SF commercial office building and barndominium.; Strategic location: just 5.5+/- miles south of the proposed Grand Parkway/Hwy 99.
