Listing Agency: Anne Vickery & Associates Realty, LLC Show Phone

Listed By: G.G. Corporate Connect

Source: Garygreene

Added: Jan 16 Changed: Oct 16 Last Checked: Oct 16 at 7:03AM

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Investment Insights

Based on property information with market context.

This 0.88-acre lot features approximately 6,000 sq ft of covered outdoor storage within a stabilized, fenced, and gated yard. The property is cleared and level. Situated in the Oak Forest / Garden Oaks area, the location offers convenient access to Loop 610, I-45, and US 290. The surrounding area features new townhomes and commercial construction. The property sits on a redeveloped street with upgraded drainage completed over the past five years. According to the owner, the property never flooded. The surface is stabilized and ready for immediate use. It is located in FEMA Zone AE, and the buyer is advised to verify requirements. The property is suitable for contractors, small businesses, storage, or future redevelopment.

Key Highlights

• Excellent location near Loop 610, I‑45, and US 290 in the Oak Forest / Garden Oaks area.
• Large 0.88‑acre cleared and stabilized lot, ready for immediate use.
• Includes approximately 6,000 sq ft of covered outdoor storage.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,162

Cap Rate

5.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$883,240 $883.2K

Cap Rate 7%

$630,886 $630.9K

Cap Rate 9%

$490,689 $490.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$57.6K $9.60/SF

− Vacancy

−$5.6K −$0.94/SF

EGI

$52.0K $8.66/SF

− OpEx

−$7.8K −$1.30/SF

NOI

$44.2K $7.36/SF

Area

Houston, TX

Vacancy

9.80%

Lease Rate

$9.60 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$883,240

Cap Rate 7%

$630,886

Cap Rate 9%

$490,689

Alternative Uses

Best Use

Warehouse

$630.9K

$552.0K – $736.0K (±1% cap)

NOI $44,162 @ 7.0% cap · market cap 5.35%

Second Best

Industrial

$483.3K

$422.9K – $563.9K (±1% cap)

NOI $33,831 @ 7.0% cap · market cap 4.10%

Theoretical Best

Office A

$1.54M

$1.35M – $1.80M (±1% cap)

NOI $108,000 @ 7.0% cap · market cap 13.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

R E Campbell ... General Contractor Formwork International Building Supply FFI Rentals (Bike/Boat/Book/etc) Store S & A Creative Granite ... General Contractor

Suggested Use

Top Pick Law Firm Real Estate Agency Hair Salon Spa & Massage Center Nail Salon Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

527

Businesses Nearby

Explore this area Business Placement

Demographics for 77018, TX

27,870

Population

13,335

Households

2.1

Avg Household Size

38

Median Age

60%

College-Educated

92%

High-School Grad

6.8 sq mi

ZIP Area

4,099

Density / Sq Mi

$121,658

Median Household Income

$75,487

Median Earnings

$1,256

Median Rent

$543,800

Median Home Value

Market

Vacancy Rate% for Industrial in Houston, TX

9.4% 2019

10.7% 2020

7.2% 2021

5.2% 2022

6.8% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Commercial land - 0.88-acre lot with covered storage near major highways.

Where is this commercial land located?

The property is located at 3502 Pinemont Drive Houston, TX.

What is the asking price?

The asking price for this property is $825,000.

What are key features of this property?

This property features: Excellent location near Loop 610, I‑45, and US 290 in the Oak Forest / Garden Oaks area.; Large 0.88‑acre cleared and stabilized lot, ready for immediate use.; Includes approximately 6,000 sq ft of covered outdoor storage.