Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23019 Hwy 242 New Caney, TX 77357

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,495,800

    Commercial land with high visibility and accessibility on Hwy 242.

    Type:Lots/Land
    Lot size:
    10.56 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    9
    Last Refresh:
    Mar 26 at 12:29 am

    Property Features for 23019 Hwy 242

    General Information

    Standard status
    Active
    Lot size
    10.56 Acres
    Property subtype
    Lots/Land

    We can help!

    Listing Contact
    Anne Vickery
    Anne Vickery

    Listing agent Anne Vickery License #0484993

    Listing office Anne Vickery & Associates Realty, LLC

    Listing date Mar 24, 2026

    Source Exitrealty

    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 & Associates Realty, LLC

    Overview

    High-Traffic Frontage on Hwy 242

    This commercial land property features 662 feet of frontage on high-traffic Highway 242. The location is situated in an Opportunity Zone. It provides access to amenities such as Big Rivers Water Park and the Grand Parkway RV Resort. The property benefits from a daily traffic count of 79,819 vehicles passing US 59 and 8,509 vehicles along Highway 242. It is located 5.5 miles from Highway 99, 15 miles from IAH Bush Airport, and 30 minutes from Downtown Houston.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Hair Salon HVAC Service Garden Center Electrical Service Pet Grooming Service (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    New Caney
    County
    Montgomery
    State
    Texas
    Longitude
    -95.240407
    Latitude
    30.219692

    Nearby Similar for Sale

    • $500,000
      2,668 SF

      Multi-Unit Residential Investment Opportunity

      Multi-family property with diverse rental income potential in New Caney.
      20918 Dunn, New Caney, TX 77357
      View Details
    • $599,000
      5,000 SF

      Commercial Space with Warehouse

      1.8-Ac commercial space with 5,000 SF warehouse.
      24090 FM 1485, New Caney, TX
      View Details
    • $160,000

      New Caney Acreage with RV

      1.64 acres with RV and utilities in place.
      149 Green, New Caney, TX 77357
      View Details
    • $729,000

      New Caney Commercial Property

      Commercial property in a rapidly growing area of Montgomery County.
      31865 Fm 1485 Road, New Caney, TX 77357
      View Details
    • $1,975,000
      4,638 SF

      Warehouse Property on 1.45 Acres

      11,400 SF warehouse with office space on 1.45 acres.
      23210 FM 1485, New Caney, TX
      View Details
    • $490,000

      Spacious Corner Property For Sale

      High-visibility corner property with existing buildings and expansion potential.
      27952 FM 1485, New Caney, TX
      View Details
    • $1,559,000

      Prime Commercial Tract in New Caney

      2.4-acre commercial tract in rapidly expanding New Caney submarket.
      22688 Oakley Road, New Caney, TX 77357
      View Details
    • $110,000

      Commercial Lot with Development Potential

      Corner lot with potential for multi-unit or commercial development.
      2706 Appian Way, New Caney, TX 77357
      View Details
    • $4,900,000

      Development Site on TX-99 Frontage

      11.36-acre development site with TX-99 frontage in Opportunity Zone.
      32130 Cypress Hollow Drive, New Caney, TX 77357
      View Details
    • $39,900

      Vacant Corner Lot Available

      Vacant corner lot in a quiet neighborhood near amenities.
      000 W Magnolia Lane, New Caney, TX 77357
      View Details
    • $2,390,000

      Highway Frontage Redevelopment Opportunity

      3.4 acre property on US Highway 59 in New Caney.
      20787 US-59, New Caney, TX
      View Details
    • $525,000
      1,740 SF

      New Caney Industrial Property

      Industrial property available for sale in New Caney, Texas.
      21273 Penny St, New Caney, TX
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with high visibility and accessibility on Hwy 242.
    Where is this commercial land located?
    The property is located at 23019 Hwy 242 New Caney, TX.
    What is the asking price?
    The asking price for this property is $2,495,800.
    What are key features of this property?
    This property features: **Prime frontage with 662 feet on high‑traffic Hwy 242**; Located in an Opportunity Zone; High visibility with 79,819 vehicles daily on US 59 and 8,509 on Hwy 242
    (281) 940-7253
    We can help!
    Listing Contact
    Anne Vickery
    Anne Vickery
    Real Estate License ID: 0484993
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!