Mobile Home and RV
New
For Sale
$949,000
30291 & 30293 Fm 1488 Rd, Waller, TX 77484
Established park property includes a restaurant-ready building with on-site infrastructure and additional commercial-use flexibility.
Property Size3,776 SF
Lot Size6.87 Acres
Price / SF$249.74
Days on Market2
Property Features for 30291 & 30293 Fm 1488 Rd
General Information
Standard status
Active
Size
3,776 SF
Lot size
6.87 Acres
Property subtype
Farm and Ranch Properties
Site & Location
Frontage
199 ft
Road Access
Yes
Utilities to Site
Yes
Restaurant
Grease Trap
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$8,702
Building Details
Building Size
3,776 SF
Year Built
1999
Buildings
1
Stories
1
Listing Agency:
Waller County Land Co.
(281) 381-0707
Listed By:
Joel Lopez · License #0670095
(281) 381-0707
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 5:03AM
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 Waller County Land Co.
Investment Insights
Based on property information with market context.
This 6.874-acre property combines an established mobile home and RV park with a 3,800-square-foot commercial building. The building has an open interior, concrete flooring, three bathrooms, a walk-in cooler, tables, chairs, and equipment. Infrastructure includes a 5-ton HVAC system installed in 2025, a second 4.5-ton HVAC unit, grease trap, water well with generator backup, aerobic septic system, and access to public water. The site is unrestricted and may support commercial or mixed-use operations, subject to applicable approvals.
Located at 30291 & 30293 FM 1488 Rd in Waller, the property provides approximately 199 feet of frontage along FM 1488. The existing park occupies the rear portion of the site, while the restaurant- or event-oriented building adds a separate commercial component. The property was built in 1999 and is in the Fields Store community.
Located at 30291 & 30293 FM 1488 Rd in Waller, the property provides approximately 199 feet of frontage along FM 1488. The existing park occupies the rear portion of the site, while the restaurant- or event-oriented building adds a separate commercial component. The property was built in 1999 and is in the Fields Store community.
Key Highlights
- 6.874‑acre unrestricted property with approximately 199 ft of frontage on FM 1488
- Established mobile home and RV park occupies the rear portion of the property
- 3,800 SF building with open layout, three bathrooms, walk‑in cooler, tables, chairs, and equipment
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
$55,149
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
5.81%
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%
$1,102,980
$1.1M
Cap Rate 7%
$787,843
$787.8K
Cap Rate 9%
$612,767
$612.8K
Market Conditions
NOI Build-Up for 3,800 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
$78.0K $20.52/SF
− Vacancy
−$4.4K −$1.17/SF
EGI
$73.5K $19.35/SF
− OpEx
−$18.4K −$4.84/SF
NOI
$55.1K $14.51/SF
Area
Harris County, TX
Vacancy
5.70%
Lease Rate
$20.52 /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%
$1,102,980
Cap Rate 7%
$787,843
Cap Rate 9%
$612,767
Alternative Uses
Best Use
Specialty Retail
$787.8K
$689.4K – $919.2K
NOI $55,149 @ 7.0% cap · market cap 5.81%
Second Best
Mixed Use
$692.1K
$605.6K – $807.5K
NOI $48,450 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$1.04M
$907.9K – $1.21M
NOI $72,632 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 77484, TX
13,449
Population
5,180
Households
2.6
Avg Household Size
39
Median Age
25%
College-Educated
84%
High-School Grad
151.0 sq mi
ZIP Area
89
Density / Sq Mi
$71,446
Median Household Income
$35,091
Median Earnings
$1,075
Median Rent
$243,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Established park property includes a restaurant-ready building with on-site infrastructure and additional commercial-use flexibility.
Where is this mobile home & rv park located?
The property is located at 30291 & 30293 Fm 1488 Rd Waller, TX.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 6.874‑acre unrestricted property with approximately 199 ft of frontage on FM 1488; Established mobile home and RV park occupies the rear portion of the property; 3,800 SF building with open layout, three bathrooms, walk‑in cooler, tables, chairs, and equipment
