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    22349 Fm 359 Rd, Hempstead, TX 77445

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    For Sale
    $3,600,000

    Corner tract with a 3-bedroom home, foreman apartment, barn, stocked pond, and strong frontage for commercial redevelopment.

    Type:Farm and Ranch Properties
    Added:
    Jun 3, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 2:52 am

    Property Features for 22349 Fm 359 Rd

    General Information

    Standard status
    Active
    Property subtype
    Farm and Ranch Properties

    Building Details

    Year Built
    2005

    We can help!

    Listing Contact
    Roberto Martins

    Listing agent Roberto Martins

    Listing office

    Listing date Jun 3, 2026

    Source Elliman

    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 Roberto Martins

    HighLights

    • Corner tract with frontage on FM 359 and Old Houston Rd: 900+ ft on FM 359 and 300+ ft on Old Houston Rd
    • 2005‑built property includes a 3‑bedroom, 2‑bath, 2‑car garage home plus an apartment for the foreman
    • On‑site amenities include a barn, stocked fishing pond, and reported deer and duck hunting
    • Commercial redevelopment potential noted; buyers to verify land use restrictions and development potential
    • Not in the flood plains; owner will convey all mineral rights he owns
    • Traffic count exceeds 40,000 vehicles per day (per TxDOT), with direct routes to Houston, College Station, Brenham and Austin

    Overview

    This property is a ranch offering a 3/2/2 home plus an additional apartment for the foreman, along with a barn. The land supports deer and duck hunting and includes a stocked fishing pond on-site.

    Located on the corner of FM 359 / Old Houston Rd and 290 business, the tract provides over 900 feet of frontage along FM 359 and more than 300 feet along Old Houston Rd. TxDOT data cited in the remarks indicates traffic exceeds 40,000 vehicles per day. The seller also notes direct routes to Houston, College Station, Brenham, and Austin, and states the property is not in the flood plains. Mineral rights owned by the seller will be conveyed, and buyers are asked to verify land use restrictions and development potential.

    The combination of ranch improvements and substantial highway frontage can appeal to buyers seeking an operating property while evaluating future commercial uses. The remarks specifically suggest potential for uses such as a gas station and convenience store, mini warehouse, shopping center, or a lot subdivision, with nearby industrial and commercial development referenced by the seller.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Restaurant Auto Parts Store Hotel & Motel Department Store Storage Facility Grocery & Convenience Store Car Rental Facility Bed & Breakfast Arcade & Gaming Center Butcher

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

    Location Insight

    • Map
    • Local Demand
    City
    Hempstead
    County
    Waller
    State
    Texas
    Longitude
    -96.04086
    Latitude
    30.082102

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    FAQs

    What type of property is this?
    Ranch - Corner tract with a 3-bedroom home, foreman apartment, barn, stocked pond, and strong frontage for commercial redevelopment.
    Where is this ranch located?
    The property is located at 22349 Fm 359 Rd Hempstead, TX.
    What is the asking price?
    The asking price for this property is $3,600,000.
    What are key features of this property?
    This property features: Corner tract with frontage on FM 359 and Old Houston Rd: 900+ ft on FM 359 and 300+ ft on Old Houston Rd; 2005‑built property includes a 3‑bedroom, 2‑bath, 2‑car garage home plus an apartment for the foreman; On‑site amenities include a barn, stocked fishing pond, and reported deer and duck hunting
    (713) 249-5154
    We can help!
    Listing Contact
    Roberto Martins
    Learn More
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    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.

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    22349 Fm 359 Rd, Hempstead, TX 77445
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