Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    55.2 Acre Waller County Farm Title is generated by Realmo AI

    14136 Penick Road, Waller, TX 77484

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,036,000

    Operating vegetable farm with lakes, utilities, and development potential.

    Type:Land or Vacant Lot
    Property size:
    1,586 SF
    Lot size:
    55.20 Acres
    Price / SF:
    $1,914/SF
    Added:
    Nov 18, 2025
    Days on Market:
    179
    Last Refresh:
    Apr 5 at 9:30 pm

    Property Features for 14136 Penick Road

    General Information

    Standard status
    Active
    Size
    1,586 SF
    Lot size
    55.20 Acres
    Property subtype
    Land or Vacant Lot

    Building Details

    Year Built
    1983

    We can help!

    Listing Contact
    RICK DOAK

    Listing agent RICK DOAK

    Listing office COMPASS RE TEXAS, LLC - HOUSTON

    Listing date Nov 18, 2025

    Source Corcoran

    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 COMPASS RE TEXAS, LLC - HOUSTON

    HighLights

    • 55.2 acre property in Waller County, suitable for development
    • Two deep water lakes ideal for irrigation and fishing
    • Excellent utilities including three‑phase power and two water wells
    • Significant paved road frontage
    • Property is not in a flood plane
    • Currently under Ag 1‑D‑1 valuation

    Overview

    This 55.2-acre property is located in Waller County and has been operating as a vegetable farm for many years. The property features two deep water lakes suitable for irrigation and fishing. Utilities include three-phase power, and the property benefits from paved road frontage. There are two water wells, one approximately 100 feet deep and the other approximately 300 feet deep. According to the listing, none of the property is located in a flood plane, making it suitable for development. Currently, there is a mobile home, sheds, and barns on the property. The property is currently under Ag 1-D-1 valuation. The listing includes Waller County Property IDs 13348, 13349, and 149506. The mobile home is sold as-is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Waller
    County
    Harris
    State
    Texas
    Longitude
    -95.9289
    Latitude
    29.9711

    Nearby Similar for Sale

    • $874,900
      3,316 SF

      Waller County Country Estate

      9.2-acre estate with a two-story home and equestrian facilities.
      31928 Reids Prairie Road, Waller, TX 77484
      View Details
    • $825,000
      2,495 SF

      Country Property with Versatile Improvements

      Well-maintained country property on approximately 5 acres with multiple barns.
      19989 Meadow Bend Road, Waller, TX 77484
      View Details
    • $825,000
      3,012 SF

      Farmhouse on 10 Acres

      Farmhouse with stocked lake on a 10-acre homesite.
      28335 Riley Road, Waller, TX 77484
      View Details
    • $925,000
      3,012 SF

      Farmhouse on 10 Acres

      Farmhouse on 10 acres with stocked lake and pier.
      28335 Riley Road, Waller, TX 77484
      View Details
    • $2,600,000
      7,217 SF

      Wellness Retreat on 12 Acres

      Purpose-built lodge for wellness, recovery, or corporate programming.
      26250b Riley Road, Waller, TX 77484
      View Details
    • $2,350,000
      8,100 SF

      Waller Office Warehouse on Acreage

      8,100 SF office warehouse on 14.9 acres in Waller.
      30210 Waller Spring Creek Rd, Waller, TX 77484
      View Details
    • $1,400,000
      10,000 SF

      10,000 SF Industrial Warehouse

      10,000 SF warehouse with expansion yard and drive-thru capability.
      19268 Kickapoo Rd, Waller, TX
      View Details
    • $535,350
      1,264 SF

      Waller, TX New Manufactured Home

      New 3 bed/2 bath manufactured home on 10 acres.
      2 Bell Road, Waller, TX 77484
      View Details
    • $6,750,000
      4,050 SF

      Waller County Ranch with Residences

      177-acre ranch featuring main and guest residences, ponds.
      32023 Courtney Road, Waller, TX 77484
      View Details
    • $5,400,000
      12,469 SF

      Magnolia Manor Estate on 67 Acres

      Upscale estate with retreat amenities, suitable for various uses.
      26250 Riley Road, Waller, TX 77484
      View Details
    • $1,540,000
      2,491 SF

      Texas Ranch with Stocked Pond

      15-acre ranch featuring a pond, pool, and versatile outbuildings.
      31229 Rochen Road, Waller, Waller, TX 77484
      View Details
    • $335,000
      1,845 SF

      Waller Office Building For Sale

      Office building in high-traffic location with tenant occupancy.
      40344 US-290 BUS, Waller, TX
      View Details

    FAQs

    What type of property is this?
    Farm - Operating vegetable farm with lakes, utilities, and development potential.
    Where is this farm located?
    The property is located at 14136 Penick Road Waller, TX.
    What is the asking price?
    The asking price for this property is $3,036,000.
    What are key features of this property?
    This property features: 55.2 acre property in Waller County, suitable for development; Two deep water lakes ideal for irrigation and fishing; Excellent utilities including three‑phase power and two water wells
    (832) 899-4788
    We can help!
    Listing Contact
    RICK DOAK
    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
    14136 Penick Road, Waller, TX 77484
    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!