Cleared Land with Residential
For Sale
Contact for pricing
15953 1st St, Splendora, TX 77372
8.46 acres near US59 with home, ideal for development.
Property Size2,663 SF
Lot Size8.46 Acres
Price / SF$337.73
Days on Market377
Property Features for 15953 1st St
General Information
Standard status
Active
Size
2,663 SF
Lot size
8.46 Acres
Property subtype
Industrial, Land, Mixed Use, Office, Retail
Listing Agency:
Anne Vickery Real Estate
(281) 732-4071
Listed By:
Anne Vickery · License #TX / 9005105
Source:
Crexi
Added: Aug 1, 2025
Changed: Aug 8
Last Checked: Aug 11 at 3:38PM
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 Anne Vickery Real Estate
Investment Insights
Based on property information with market context.
This property features approximately 8.46 acres of cleared and fenced land with frontage on 1st Street. It is located minutes from US59 and Grand Parkway, approximately 37 miles NNE of Houston, in a rapidly growing corridor of Splendora. The property includes a 2,663 square foot ranch-style brick home, constructed in 1996, featuring 3 bedrooms, 2.5 bathrooms, high ceilings, quartz counters, a gas fireplace, sprinkler irrigation, and a prewired alarm system. A gated driveway provides access to the property. This parcel is suitable for various commercial or owner-user purposes, including a live/work configuration, contractor yard, warehouse/office, light industrial, self-storage, or mixed-use redevelopment. Public water and sewer utilities are available. Zoning in nearby comparable parcels along 1st Street already accommodates commercial or residential use. This development-ready asset offers ample space and visibility in East Montgomery County's emerging US59 corridor.
Key Highlights
- ±8.46 acres of cleared, fenced land with 1st Street frontage in a rapidly growing area.
- Flexible parcel suitable for various commercial or owner‑user scenarios.
- Includes a 2,663SF ranch‑style brick home with 3 beds, 2.5 baths.
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
$31,219
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%
$624,380
$624.4K
Cap Rate 7%
$445,986
$446.0K
Cap Rate 9%
$346,878
$346.9K
Market Conditions
NOI Build-Up for 2,663 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
$53.4K $20.04/SF
− Vacancy
−$11.7K −$4.41/SF
EGI
$41.6K $15.63/SF
− OpEx
−$10.4K −$3.91/SF
NOI
$31.2K $11.72/SF
Area
Montgomery County, TX
Vacancy
22.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$624,380
Cap Rate 7%
$445,986
Cap Rate 9%
$346,878
Alternative Uses
Best Use
Office B
$446.0K
$390.2K – $520.3K
NOI $31,219 @ 7.0% cap · market cap 3.47%
Second Best
Mixed Use
$393.7K
$344.5K – $459.4K
NOI $27,562 @ 7.0% cap · market cap 3.06%
Theoretical Best
Specialty Retail
$672.3K
$588.3K – $784.3K
NOI $47,060 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 77372, TX
13,306
Population
4,779
Households
2.8
Avg Household Size
36
Median Age
12%
College-Educated
80%
High-School Grad
51.5 sq mi
ZIP Area
258
Density / Sq Mi
$78,601
Median Household Income
$38,263
Median Earnings
$1,226
Median Rent
$217,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 8.46 acres near US59 with home, ideal for development.
Where is this commercial land located?
The property is located at 15953 1st St Splendora, TX.
What is the asking price?
The asking price for this property is $899,380.
What are key features of this property?
This property features: ±8.46 acres of cleared, fenced land with 1st Street frontage in a rapidly growing area.; Flexible parcel suitable for various commercial or owner‑user scenarios.; Includes a 2,663SF ranch‑style brick home with 3 beds, 2.5 baths.
