Versatile 10-Acre Property with
For Sale
$1,100,000
14945 Wiggins Road, Conroe, TX 77302
Cleared 10-acre property featuring a 7,200 sq ft metal building.
Property Size7,200 SF
Lot Size10.00 Acres
Price / SF$152.78
Days on Market214
Property Features for 14945 Wiggins Road
General Information
Standard status
Active
Size
7,200 SF
Lot size
10.00 Acres
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$3,996
Amenities
Central air
Detached Carport
Golf Cart Garage
Additional Parking
Boat Parking
Central Air Cooling
Central Heating
Driveway
Electric Cooling
Electric Gate
Electric Heating
Mobile Home Allowed
Building Details
Year Built
2013
Listing Agency:
GOUPRE
(281) 853-5133
Listed By:
SEAN GAMBINI · License #0627881
Source:
Corcoran
Added: Jan 6
Changed: Aug 8
Last Checked: Aug 8 at 1:48PM
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 GOUPRE
Investment Insights
Based on property information with market context.
This cleared 10-acre property includes a 7,200 sq ft red iron metal building suitable for conversion into a barndominium or use as a shop or commercial workspace. The building features reinforced concrete beams and a rebar foundation, along with three identical 60’ x 40’ bays with removable partitions, a 20-foot apex, and three 16’ x 14’ roll-up doors. The property also contains two existing manufactured homes, which the seller is willing to remove upon request. Two traditional septic systems and one well serve the property. 3-phase power runs from the front to the rear along the left side. Additional features include two ponds, full perimeter fencing, and 18-wheeler accessibility. The surrounding properties are well-maintained. The seller is willing to add additional pad sites, dirt work, or clearing as needed to accommodate the buyer’s plans. There are no restrictions on the property.
Key Highlights
- Large 7,200 sq ft metal building with reinforced foundation, suitable for barndominium conversion or commercial use
- 10‑acre property with no restrictions
- 3‑phase power available from front to rear of the property
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
$44,499
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
4.05%
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%
$889,980
$890.0K
Cap Rate 7%
$635,700
$635.7K
Cap Rate 9%
$494,433
$494.4K
Market Conditions
NOI Build-Up for 7,200 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
$55.9K $7.76/SF
− Vacancy
−$3.5K −$0.49/SF
EGI
$52.4K $7.27/SF
− OpEx
−$7.9K −$1.09/SF
NOI
$44.5K $6.18/SF
Area
Montgomery County, TX
Vacancy
6.30%
Lease Rate
$7.76 /SF/Yr
Expense Ratio
15.00%
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%
$889,980
Cap Rate 7%
$635,700
Cap Rate 9%
$494,433
Alternative Uses
Best Use
Warehouse
$635.7K
$556.2K – $741.7K
NOI $44,499 @ 7.0% cap · market cap 4.05%
Second Best
Industrial
$523.5K
$458.1K – $610.8K
NOI $36,646 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.12M
NOI $127,236 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77302, TX
19,384
Population
7,040
Households
2.8
Avg Household Size
37
Median Age
24%
College-Educated
92%
High-School Grad
52.9 sq mi
ZIP Area
366
Density / Sq Mi
$81,886
Median Household Income
$50,344
Median Earnings
$1,315
Median Rent
$247,000
Median Home Value
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?
Flex space - Cleared 10-acre property featuring a 7,200 sq ft metal building.
Where is this flex space located?
The property is located at 14945 Wiggins Road Conroe, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Large 7,200 sq ft metal building with reinforced foundation, suitable for barndominium conversion or commercial use; 10‑acre property with no restrictions; 3‑phase power available from front to rear of the property
