Spacious Land with Large
For Sale
$875,000
18380 Blackberry Road, Conroe, TX 77306
11.974 acres with warehouse, pond, and utilities near development.
Property Size4,000 SF
Lot Size11.97 Acres
Price / SF$218.75
Days on Market185
Property Features for 18380 Blackberry Road
General Information
Standard status
Active
Size
4,000 SF
Lot size
11.97 Acres
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$5,759
Amenities
Cleared
Level
Mobile Home Allowed
Trees
Waterfront
Wooded
Building Details
Year Built
2022
Listing Agency:
VAQUERO RE LLC
(832) 818-3222
Listed By:
MYRNA ARMENDARIZ · License #0633817
Source:
Corcoran
Added: Mar 4
Changed: Sep 4
Last Checked: Sep 5 at 9:03AM
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 VAQUERO RE LLC
Investment Insights
Based on property information with market context.
This 11.974-acre property offers country living with convenient access to FM2090, 242, and 1485. The land features a 40x100 warehouse and a 60x100 concrete slab suitable for constructing a large barndominium farmhouse. A stocked 1-acre pond, recently restructured, enhances the property. The land is mostly cleared, with mature trees surrounding the perimeter, and is fully fenced. Utilities include a deep water well, RV sewer hookups, propane, and an electric pole. Gravel roads are in place, along with a new entrance gate and fence. The area is experiencing development and commercial growth, offering proximity to shopping and restaurants. The property has low taxes and no HOA fees. An existing survey is available.
Key Highlights
- Large 11.974 acre property ideal for country living or development.
- Massive 40x100 warehouse/barndominium potential on 60x100 concrete slab.
- Stocked 1 acre pond and mature trees on mostly cleared, completely fenced land.
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
$24,722
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
2.83%
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%
$494,440
$494.4K
Cap Rate 7%
$353,171
$353.2K
Cap Rate 9%
$274,689
$274.7K
Market Conditions
NOI Build-Up for 4,000 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
$31.0K $7.76/SF
− Vacancy
−$2.0K −$0.49/SF
EGI
$29.1K $7.27/SF
− OpEx
−$4.4K −$1.09/SF
NOI
$24.7K $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%
$494,440
Cap Rate 7%
$353,171
Cap Rate 9%
$274,689
Alternative Uses
Best Use
Warehouse
$353.2K
$309.0K – $412.0K
NOI $24,722 @ 7.0% cap · market cap 2.83%
Second Best
Industrial
$290.8K
$254.5K – $339.3K
NOI $20,359 @ 7.0% cap · market cap 2.33%
Theoretical Best
Specialty Retail
$1.01M
$883.6K – $1.18M
NOI $70,687 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 77306, TX
15,127
Population
5,913
Households
2.6
Avg Household Size
32
Median Age
13%
College-Educated
62%
High-School Grad
41.1 sq mi
ZIP Area
368
Density / Sq Mi
$76,411
Median Household Income
$35,587
Median Earnings
$933
Median Rent
$156,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Agricultural land / Farmland - 11.974 acres with warehouse, pond, and utilities near development.
Where is this agricultural land / farmland located?
The property is located at 18380 Blackberry Road Conroe, TX.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Large 11.974 acre property ideal for country living or development.; Massive 40x100 warehouse/barndominium potential on 60x100 concrete slab.; Stocked 1 acre pond and mature trees on mostly cleared, completely fenced land.
