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

    2918 N Richmond Rd Wharton, TX 77488

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Unoccupied flex/industrial property on 2.63 acres in Wharton, TX.

    Property size:
    6,908 SF
    Lot size:
    2.63 Acres

    Property Features for 2918 N Richmond Rd

    General Information

    Standard status
    Active
    Size
    6,908 SF
    Lot size
    2.63 Acres

    Building Details

    Year built
    1968

    We can help!

    Listing Contact
    Brian Corriston
    Brian Corriston
    Source: Crexi

    Listing Agency: Northmarq - Houston Listing Agent: Brian Corriston

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Wharton Flex/Industrial Opportunity

    The property at 2918 N. Richmond Road, Wharton, Texas, is available for sale. This property, comprising 6,908 square feet, is situated on 2.63 acres. The surrounding area has limited industrial and office space, with just under 300,000 square feet of industrial and office properties within a 3-mile radius, showing a 98.1% occupancy rate. The property is currently unoccupied.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Restaurant Dental Office Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Wharton
    County
    Wharton
    State
    Texas
    Longitude
    -96.0912191
    Latitude
    29.3388139

    Nearby Similar for Sale

    • $13,000,000
      1,455.00 Acres

      Expansive Ranch with Colorado River Frontage

      1455+ acre Wharton Ranch with river frontage and improvements.
      S County Road 102, Wharton, TX 77488
      View Details
    • $485,000

      Historic Wharton Square Property

      Charming property on Wharton's historic square with endless potential.
      129 S Fulton St, Wharton, TX 77488
      View Details
    • $650,000

      44.9-Acre Ranch Between Glen Flora

      Ranch featuring pastures, wooded areas, cabin, and barn.
      811 County Road 230, Wharton, TX 77488
      View Details
    • $599,000
      2,081 SF

      7-Acre Estate with Barn

      Spacious home with barn on a 7-acre estate.
      4340 State Highway 60 S, Wharton, TX 77488
      View Details
    • $650,000

      44.9-Acre Ranch Near Wharton, TX

      Ranch property with cabin, barn, pastures, and wooded areas.
      811 County Road 230, Wharton, TX 77488
      View Details
    • $199,000

      Tenant-Occupied Duplex Investment Opportunity

      Duplex with two units, offering immediate rental income.
      611 Reed Ave, Wharton, TX 77488
      View Details
    • $199,000

      Tenant-Occupied Duplex Investment Opportunity

      Duplex with two units, tenant-occupied, offering immediate rental income.
      611 Reed Ave, Wharton, TX 77488
      View Details
    • $240,000

      Wharton Farmland with Deed Restrictions

      Agricultural property in Wharton, TX with deed restrictions.
      0000 Orchard Dr, Wharton, TX 77488
      View Details
    • $225,000
      2,143 SF

      Wharton Office Space For Sale

      Office property with 2143 square feet of space.
      148 S Houston St, Wharton, TX 77488
      View Details
    • $775,000
      2,060 SF

      Updated Home on Sprawling Acreage

      Updated 4-bedroom home on 13 acres with agricultural exemption.
      3535 Peach Creek Dr, Wharton, TX 77488
      View Details
    • $605,000
      5,794 SF

      Downtown Wharton Corner Location

      High-visibility mixed-use property in the heart of Wharton, Texas.
      221 N Houston St, Wharton, TX 77488
      View Details
    • $1,200,000
      3,295 SF

      Equestrian Estate with Multi-Residences

      32-acre equestrian estate featuring multiple residences and extensive equestrian facilities.
      6510 Fm 3012 Rd, Wharton, TX 77488
      View Details

    FAQs

    What type of property is this?
    Flex space - Unoccupied flex/industrial property on 2.63 acres in Wharton, TX.
    Where is this flex space located?
    The property is located at 2918 N Richmond Rd Wharton, TX.
    What are key features of this property?
    This property features: - Priced well below replacement cost at $101 PSF.; - Large 2.63-acre land parcel offers flexibility for owner-user or investor.; - Low land cost at $6.11 PSF.
    (832) 368-0374
    Request Owner's contact information
    2918 N Richmond Rd Wharton, TX 77488
    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.
    2918 N Richmond Rd
    Wharton, TX 77488
    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
    2918 N Richmond Rd Wharton, TX 77488
    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

    We can help!
    Listing Contact
    Brian Corriston
    Brian Corriston
    Real Estate License ID: 516241
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!