Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Unrestricted Hempstead Land For Sale Title is generated by Realmo AI

    21728 Fairground Road, Hempstead, TX 77445

    View on Map
    Claim this Listing
    For Sale
    $680,000

    5-acre unrestricted property near Highway 290, suitable for commercial/residential use.

    Type:Land
    Lot size:
    5.00 Acres
    Added:
    Feb 17, 2025
    Days on Market:
    468
    Last Refresh:
    Mar 13 at 1:56 pm

    Property Features for 21728 Fairground Road

    General Information

    Standard status
    Active
    Lot size
    5.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Blanca Cardoso

    Listing agent Blanca Cardoso License #0653960

    Listing office Bayou Vista Realty, LLC

    Listing date Feb 17, 2025

    Source Compass

    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 Bayou Vista Realty, LLC

    HighLights

    • 5‑acre unrestricted property suitable for commercial or residential use
    • Conveniently located near Highway 290 with easy access
    • Utilities in place: electrical hookups, water well, and septic system
    • Wide main entrance accommodates heavy‑duty vehicles
    • Reinforced areas for equipment parking
    • Versatile horse stable adaptable for storage or workspace

    Overview

    This 5-acre unrestricted property in Hempstead is suitable for commercial and residential development. Located near Highway 290, the property offers accessibility and a wide main entrance suitable for heavy-duty vehicles. Reinforced areas are present for equipment parking. A horse stable is on the property that can be converted into storage or workspace. Essential utilities are in place, including electrical hookups, a water well, and a septic system. There are also two mailboxes on the property. The existing manufactured home will be removed by the seller.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Auto Repair Shop Hotel & Motel Department Store Storage Facility Grocery & Convenience Store Car Rental Facility Bed & Breakfast Plumbing Service Arcade & Gaming Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Hempstead
    County
    Waller
    State
    Texas
    Longitude
    -96.035831
    Latitude
    30.074691

    Nearby Similar for Sale

    • $1,400,000
      2,483 SF

      Equestrian Ranch with Wildlife Exemption

      Turnkey ranch on 19 acres with equestrian facilities.
      40570 Wild life Run, Hempstead, TX 77445
      View Details
    • $105,000
      27,000 SF

      Hempstead, TX Land Opportunity

      Five adjacent lots in Hempstead, TX, ideal for residential development.
      25 St, Hempstead, TX 77445
      View Details
    • $239,000

      Commercial Corner Lot on FM 1488

      2.447 acre commercial corner lot with high visibility.
      TBD Farm To Market Road 1488, Hempstead, TX 77445
      View Details
    • $450,000
      3,600 SF

      Highway 6 Restaurant Opportunity

      Turnkey restaurant property with high visibility on Highway 6.
      27004 Hwy 6, Hempstead, TX 77445
      View Details
    • $350,000

      Prime Land Adjacent to H-E-B

      1.723-acre parcel adjacent to H-E-B Distribution Center in Hempstead.
      48 Saint Marys St, Hempstead, TX 77445
      View Details
    • $780,000
      3,290 SF

      Hempstead Homestead on 10 Acres

      Serene 10-acre Hempstead property with main home, cottage, and barns.
      23600 Brazos Estates Road, Hempstead, TX 77445
      View Details
    • $489,000
      1,500 SF

      Modern Farmhouse on 1.5 Acres

      Like-new, custom farmhouse with barn, pond views, and generator.
      44206 Springer Rd, Hempstead, TX 77445
      View Details
    • $495,000

      Unrestricted Acreage with Workshop/Barn

      Four unrestricted acres featuring a manufactured home and workshop/barn.
      41230 Delma Rd, Hempstead, TX 77445
      View Details
    • $420,000

      Unrestricted Lot in Hempstead, TX

      18,748 SF unrestricted lot for sale in Hempstead, Texas.
      906 Rice Street, Hempstead, TX 77445
      View Details
    • $260,000
      2,156 SF

      Log Home on Corner Lot

      Spacious log home on 1.8 acres with residential/commercial potential.
      40646 Fm 2979, Hempstead, TX 77445
      View Details
    • $2,250,000

      Hempstead Land Investment Opportunity

      25+ acre commercial land near HWY 290 in Hempstead, TX.
      0 Mack Washington Ln., Hempstead, TX 77445
      View Details
    • $789,900

      Prime Commercial Tract in Hempstead

      55.599-acre commercial tract with high visibility and connectivity.
      0 HWY 290 Bus, Hempstead, TX 77445
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5-acre unrestricted property near Highway 290, suitable for commercial/residential use.
    Where is this commercial land located?
    The property is located at 21728 Fairground Road Hempstead, TX.
    What is the asking price?
    The asking price for this property is $680,000.
    What are key features of this property?
    This property features: 5‑acre unrestricted property suitable for commercial or residential use; Conveniently located near Highway 290 with easy access; Utilities in place: electrical hookups, water well, and septic system
    (832) 573-8922
    We can help!
    Listing Contact
    Blanca Cardoso
    Real Estate License ID: 0653960
    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

    Thank You for Inquiry
    21728 Fairground Road, Hempstead, TX 77445
    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!