Mixed-Use Property with Covered
New
For Sale
$199,900
13644 HWY 87 N, Nursery, TX 77976
CommercialSale, Nursery, TX
Property Size988 SF
Lot Size2.24 Acres
Price / SF$202.33
Days on Market2
Property Features for 13644 HWY 87 N
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Oversize, Carport, RV
Lot features
One To Three Acres, Corner Lot, Outside City Limits
Elementary school district
Nursery ISD
Middle school district
Nursery ISD
High school district
Nursery ISD
Directions
When headed north on HWY 87, property is in Nursery at intersection of HWY 87 and Castillo
Standard status
Active
APN
28911
Size
988 SF
Lot size
2.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
00200 FELIPE DIMMITT ABST 20 TRACT 36, 37 & 38, ACRES 2.241
Tax Annual Amount
2854
Legal Description
00200 FELIPE DIMMITT ABST 20 TRACT 36, 37 & 38, ACRES 2.241
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Well, Private
Water front
1
Building Details
Year built
1992
Floors in Building
1
Flooring type
Tile
Building materials
BrickVeneer, Frame
Roof type
Composition, Shingle
Listing Agency:
The Ron Brown Company
(361) 575-1446
Listed By:
Jake Truss · License #0730168
(361) 550-7878
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 2:06PM
MLS# 624107
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Set on 2.241 acres in Nursery, Texas, this mixed-use property combines a 988-square-foot, one-bedroom, one-bath home with substantial covered improvements. The residence was built in 1992 and includes brick veneer and frame construction, tile flooring, central heating, and central air. A 25-by-40-foot covered workshop provides enclosed project and storage space, while four cargo containers add additional on-site storage.
The property fronts US Hwy 87 at a hard corner and includes access from Castillo Drive. Three separate gates and driveways accommodate trucks, trailers, equipment, and oversized vehicles. Multiple RV hookups are connected to electric service and septic infrastructure. Water is supplied by a private well, and the site also includes oversize parking, a carport, and RV parking.
The property fronts US Hwy 87 at a hard corner and includes access from Castillo Drive. Three separate gates and driveways accommodate trucks, trailers, equipment, and oversized vehicles. Multiple RV hookups are connected to electric service and septic infrastructure. Water is supplied by a private well, and the site also includes oversize parking, a carport, and RV parking.
Key Highlights
- 2.241‑acre mixed‑use property on a hard corner along US Hwy 87
- 988‑square‑foot, 1‑bedroom, 1‑bath home built in 1992
- 25‑by‑40‑foot covered workshop for projects, equipment, or storage
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
$6,936
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
3.47%
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%
$138,720
$138.7K
Cap Rate 7%
$99,086
$99.1K
Cap Rate 9%
$77,067
$77.1K
Market Conditions
NOI Build-Up for 988 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
$11.9K $12.00/SF
− Vacancy
−$1.2K −$1.20/SF
EGI
$10.7K $10.80/SF
− OpEx
−$3.7K −$3.78/SF
NOI
$6.9K $7.02/SF
Area
Victoria County, TX
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$138,720
Cap Rate 7%
$99,086
Cap Rate 9%
$77,067
Alternative Uses
Best Use
Flex RnD
$99.1K
$86.7K – $115.6K
NOI $6,936 @ 7.0% cap · market cap 3.47%
Second Best
Mixed Use
$95.9K
$84.0K – $111.9K
NOI $6,716 @ 7.0% cap · market cap 3.36%
Theoretical Best
Multifamily LT 5
$10.85M
$9.50M – $12.66M
NOI $759,795 @ 7.0% cap · market cap 380.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 77976, TX
68
Population
26
Households
2.6
Avg Household Size
53
Median Age
33%
College-Educated
100%
High-School Grad
11.8 sq mi
ZIP Area
6
Density / Sq Mi
$61,458
Median Earnings
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Highway-accessible mixed-use property combining a one-bedroom home, covered workspace, storage containers, and RV utility connections.
Where is this mixed-use property located?
The property is located at 13644 HWY 87 N Nursery, TX.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 2.241‑acre mixed‑use property on a hard corner along US Hwy 87; 988‑square‑foot, 1‑bedroom, 1‑bath home built in 1992; 25‑by‑40‑foot covered workshop for projects, equipment, or storage
