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    Country Estate with Workshop Title is generated by Realmo AI

    3021 W FM 1093 Road, Wallis, TX 77485

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    For Sale
    $849,900

    11+ acre country estate featuring a custom home and shop.

    Property size:
    4,080 SF
    Price / SF:
    $208/SF
    Added:
    May 28, 2025
    Days on Market:
    369
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 3021 W FM 1093 Road

    General Information

    Standard status
    Active
    Size
    4,080 SF

    Building Details

    Year Built
    1995

    We can help!

    Listing Contact
    LYLE MUEGGE

    Listing agent LYLE MUEGGE License #0477785

    Listing office KELLER WILLIAMS REALTY SOUTHWEST

    Listing date May 28, 2025

    Source Corcoran

    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 KELLER WILLIAMS REALTY SOUTHWEST

    HighLights

    • 11+ acre country estate with gated entrance, offering privacy and space.
    • 4,080 sq ft custom home featuring 4 bedrooms, 4.5 bathrooms, game room, and home office/5th bedroom.
    • 4,320 SF shop (2,400 enclosed) with air‑conditioned office and full bathroom (built 2021).
    • Convenient access to Katy and Houston via I‑10, Hwy 59, and Westpark Tollway.
    • Equipped with a 24kw Koehler whole home generator for power reliability.
    • Spacious kitchen with island, double oven, and stainless steel dishwasher.

    Overview

    This 11+ acre country estate is a short drive to Katy and Houston via I-10, Hwy 59 and Westpark Tollway. The property features a 4,080 sq ft custom home with a gated entrance, plus a 4,320 SF shop (2,400 enclosed) built in 2021, which includes an air-conditioned office and full bathroom. The home has 4 bedrooms, a game room, a home office or 5th bedroom, 4.5 bathrooms, and a 4-car garage. It also features high-speed internet and a 24kw Koehler whole-home generator. The spacious kitchen includes an island with a prep sink, double oven, stainless steel dishwasher, bay window, and beadboard ceiling. The family room features rich wood paneling and floors, plus a stone wood-burning or gas fireplace. The primary bedroom suite includes a full ensuite bathroom. There are two large bedroom suites upstairs, each with a full bathroom. The property also features a wraparound front porch and an insulated shop.
    Property Profile Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Computer & Electronic Repair Tech Support Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Wallis
    County
    Austin
    State
    Texas
    Longitude
    -96.1169
    Latitude
    29.6295

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    FAQs

    What type of property is this?
    Horse & equestrian property - 11+ acre country estate featuring a custom home and shop.
    Where is this horse & equestrian property located?
    The property is located at 3021 W FM 1093 Road Wallis, TX.
    What is the asking price?
    The asking price for this property is $849,900.
    What are key features of this property?
    This property features: 11+ acre country estate with gated entrance, offering privacy and space.; 4,080 sq ft custom home featuring **4 bedrooms, 4.5 bathrooms, game room, and home office/5th bedroom.**; **4,320 SF shop (2,400 enclosed)** with air‑conditioned office and full bathroom (built 2021).
    (281) 450-0966
    We can help!
    Listing Contact
    LYLE MUEGGE
    Real Estate License ID: 0477785
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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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