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    Prime Land Near Hospital District Title is generated by Realmo AI

    Buddy Ganem aka Fm 3239 lot 3 & 4 Sec, Portland, TX 78374

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    Claim this Listing
    For Sale
    $1,700,000

    LAND - Portland, TX

    Lot size:
    8.70 Acres
    Added:
    Jan 24, 2024
    Days on Market:
    857
    Last Refresh:
    May 30 at 11:06 pm

    Property Features for Buddy Ganem aka Fm 3239 lot 3 & 4 Sec

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    56848, 56856
    Lot size
    8.70 Acres

    Taxes and HOA fees

    Tax Description
    GEO H PAUL SUBD CFP CO SEC P TR 3 & TR 4 (8.7 ACRES)

    We can help!

    Listing Contact
    Shawn Cass
    Shawn Cass

    Listing agent Shawn Cass License #0326039

    Listing office Cass Real Estate 401 US Hwy 181, Portland, TX

    Listing date Jan 24, 2024

    MLS# 434295 Listing URL

    Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑traffic location on Buddy Ganem Drive (FM 3239) with 521.82' frontage.
    • Large 8.698‑acre site suitable for development.
    • Proximity to major employers and industrial sites.
    • Close to new Hospital District, retail, and entertainment.
    • Improved drainage easement and high elevation.
    • Located near award‑winning G‑PISD schools, sports complexes, and other community amenities.

    Overview

    This 8.698-acre cultivated site is located on the north side of the Buddy Ganem corridor between US Hwy 181 and Wildcat Drive. It features 521.82 feet of frontage along Buddy Ganem and a depth of 726 feet. The property is near the new Hospital District, Texan Travel Stop, Target, Raising Cane's, Five Guys, Chipotle, and the newly renovated B&B Theater, as well as other national retail giants. Additional features include a recently improved 50-foot drainage easement and high elevation. Its location offers proximity to the La Quinta Trade Terminal, GCGV, Cheniere, Voestalpine, and TCPO. The site benefits from high traffic along Buddy Ganem Drive and is near new hotels, restaurants, entertainment venues, award-winning G-PISD Schools, sports complexes, a Public Library, a Fire Department, and sports medicine sites. The improving infrastructure in the area enhances the value of this location. This site is located in Portland, TX.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Portland
    County
    San Patricio
    State
    Texas
    Longitude
    -97.2907
    Latitude
    27.9445

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    FAQs

    What type of property is this?
    Commercial land - 8.698 acres near retail, hospital, and industrial developments.
    Where is this commercial land located?
    The property is located at Buddy Ganem aka Fm 3239 lot 3 & 4 Sec Portland, TX.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: High‑traffic location on Buddy Ganem Drive (FM 3239) with 521.82' frontage.; Large 8.698‑acre site suitable for development.; Proximity to major employers and industrial sites.
    (972) 333-3727
    We can help!
    Listing Contact
    Shawn Cass
    Shawn Cass
    Real Estate License ID: 0326039
    Learn More
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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.

    More about this property
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