Corner Commercial
For Sale
Contact for pricing
2901 FM 646 Road, League City, TX 77573
Corner parcel with a recently remodeled house/office structure and access to several major regional routes.
Property Size1,456 SF
Price / SF$240.38
Days on Market99
Property Features for 2901 FM 646 Road
General Information
Standard status
Active
Size
1,456 SF
Class
B
Property subtype
Retail, Office, Land
Investment Type
Owner/User
Building Details
Year Built
1981
Year Renovated
2025
Buildings
1
Listing Agency:
Independence Real Estate, Inc.
(281) 335-0335
Listed By:
Ernesto Ramirez · License #TX 719511
Source:
Crexi
Added: May 24
Changed: Aug 30
Last Checked: Aug 30 at 10:50AM
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 Independence Real Estate, Inc.
Investment Insights
Based on property information with market context.
This commercial land offering includes a corner parcel at FM 646 Road and Arizona Avenue, together with a recently remodeled house/office structure. The property is positioned for commercial development and includes 35,884 SF remaining after TxDOT acquired 3,116 SF along the FM 646 frontage for a planned roadway widening project tied to the future Grand Parkway.
Access is provided from FM 646, with proximity to I-45 South, State Highway 3, and State Highway 146. The site is located in League City, near Dickinson, and sits along corridors identified in the source information as heavily traveled. The existing structure was built in 1981 and recently remodeled.
Access is provided from FM 646, with proximity to I-45 South, State Highway 3, and State Highway 146. The site is located in League City, near Dickinson, and sits along corridors identified in the source information as heavily traveled. The existing structure was built in 1981 and recently remodeled.
Key Highlights
- 35,884 SF remaining commercial parcel
- 3,116 SF acquired by TxDOT along FM 646 frontage
- Corner location at FM 646 Road and Arizona Avenue
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
$24,364
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
6.96%
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%
$487,280
$487.3K
Cap Rate 7%
$348,057
$348.1K
Cap Rate 9%
$270,711
$270.7K
Market Conditions
NOI Build-Up for 1,456 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
$44.4K $30.48/SF
− Vacancy
−$11.9K −$8.17/SF
EGI
$32.5K $22.31/SF
− OpEx
−$8.1K −$5.58/SF
NOI
$24.4K $16.73/SF
Area
League City, TX
Vacancy
26.80%
Lease Rate
$30.48 /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%
$487,280
Cap Rate 7%
$348,057
Cap Rate 9%
$270,711
Alternative Uses
Best Use
Office B
$348.1K
$304.6K – $406.1K
NOI $24,364 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$442.9K
$387.5K – $516.7K
NOI $31,002 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
Explore this area
Business Placement
Demographics for 77573, TX
95,256
Population
37,188
Households
2.6
Avg Household Size
37
Median Age
49%
College-Educated
96%
High-School Grad
29.8 sq mi
ZIP Area
3,197
Density / Sq Mi
$122,783
Median Household Income
$67,441
Median Earnings
$1,647
Median Rent
$342,000
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 - Corner parcel with a recently remodeled house/office structure and access to several major regional routes.
Where is this commercial land located?
The property is located at 2901 FM 646 Road League City, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 35,884 SF remaining commercial parcel; 3,116 SF acquired by TxDOT along FM 646 frontage; Corner location at FM 646 Road and Arizona Avenue
