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

    15219 Paradise Cove Dr Willis, TX 77318

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,600,000

    Multifamily property for sale in Willis, Texas.

    Type:Multifamily
    Added:
    Mar 3, 2025
    Days on Market:
    394
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 15219 Paradise Cove Dr

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Jeffrey A Blake

    Listing agent Jeffrey A Blake License #389337

    Listing office Blake & Associates Realty

    Listing date Mar 3, 2025

    Source Crexi

    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 Blake & Associates Realty

    Overview

    Paradise Cove Multifamily Opportunity

    This multifamily property is available for sale. The property is located at 15219 Paradise Cove Dr, Willis, TX 77318.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Building Supply Spa & Massage Center Hotel & Motel Auto Repair Shop Nail Salon Auto Parts Store Hair Salon Gym & Fitness Center Veterinary Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Willis
    County
    Montgomery
    State
    Texas
    Longitude
    -95.5183
    Latitude
    30.4477

    Nearby Similar for Sale

    • $440,000

      Versatile Property in Willis, TX

      Commercial/residential opportunity in Willis' rapidly expanding business corridor.
      123 Business Park Dr, Willis, TX
      View Details
    • $975,000
      2,748 SF

      Unrestricted Acreage with Farmhouse

      Farmhouse on 11+ unrestricted acres with horse barn and pool.
      7000 Woodland Lakes Drive, Willis, TX 77378
      View Details
    • $649,000
      3,460 SF

      Highway 75 Warehouse with Office

      3,460 SF warehouse with office space in Willis, TX.
      11130 N Highway 75, Willis, TX
      View Details
    • $790,000
      4,098 SF

      Lake Conroe Triplex Investment Opportunity

      Gated community triplex near Lake Conroe, pre-selling now!
      14010 Longstreet Road 5, Willis, TX 77318
      View Details
    • $6,857,610
      4,954 SF

      Clearwater Express Car Wash

      Car wash property for sale in Willis, Texas.
      111 Holland St, Willis, TX 77378
      View Details
    • $943,500
      1,860 SF

      Willis Acreage with Custom Home

      Unrestricted 11-acre property with custom home and equestrian facilities.
      159 E Double Creek, Willis, TX 77378
      View Details
    • $210,000
      1,188 SF

      Lake Conroe Duplex on Corner Lot

      One-story duplex near Lake Conroe with community amenities.
      11423 Outrigger Drive, Willis, TX 77318
      View Details
    • Contact for pricing
      40,469 SF

      Highway 75 Warehouse Opportunity

      40,469 SF building on 2.46 acres near I-45.
      14077 Highway 75 N, Willis, TX
      View Details
    • $180,000

      New Metal Building For Sale

      New 2000 sq ft metal building suitable for warehouse/storage.
      10725 Pine Street, Willis, TX 77318
      View Details
    • $3,200,000

      Partially Renovated Multifamily Investment

      16-unit multifamily property with immediate income and upside potential.
      214 Longstreet Rd, Willis, TX 77378
      View Details
    • $790,000

      New Gated Community Triplexes

      Turnkey triplexes in gated community near Lake Conroe.
      14010 Longstreet Rd, Willis, TX 77318
      View Details
    • $889,000
      10,582 SF

      Willis Truck Tire Service Facility

      Operational truck tire and service facility in a growing commercial corridor.
      611 N Highway 75 N, Willis, TX
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multifamily property for sale in Willis, Texas.
    Where is this multifamily property located?
    The property is located at 15219 Paradise Cove Dr Willis, TX.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: No property information provided.
    (936) 718-1549
    We can help!
    Listing Contact
    Jeffrey A Blake
    Real Estate License ID: 389337
    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!