Building Details

Year Built 2022

Listing Agency: VAQUERO RE LLC Show Phone

Listed By: MYRNA ARMENDARIZ · License #0633817

Source: Corcoran

Added: Mar 4 Changed: Oct 21 Last Checked: Oct 20 at 8:54PM

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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

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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 / Yr

$24,722

Cap Rate

2.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$494,440 $494.4K

Cap Rate 7%

$353,171 $353.2K

Cap Rate 9%

$274,689 $274.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

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 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 (±1% cap)

NOI $24,722 @ 7.0% cap · market cap 2.91%

Second Best

Industrial

$290.8K

$254.5K – $339.3K (±1% cap)

NOI $20,359 @ 7.0% cap · market cap 2.40%

Theoretical Best

Specialty Retail

$1.01M

$883.6K – $1.18M (±1% cap)

NOI $70,687 @ 7.0% cap · market cap 8.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Agricultural land / Farmland

Suggested Use

Top Pick Auto Parts Store Plumbing Service Hair Salon Big Box & Wholesale Store Grocery & Convenience Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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 $850,000.

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.