Sign Up Successful!
You now have access to more from Realmo!
    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

    501 Colonial Dr Friendswood, TX 77546

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $120,000

    Large corner lot in Heritage Estates, ideal for custom home.

    Property Features for 501 Colonial Dr

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Ashley Diep
    Source: Corcoran

    Listing Agent: Ashley Diep

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

    Learn more

    Property Insight Report

    Overview

    Spacious Corner Lot in Friendswood

    This corner lot for sale is located in Heritage Estates, offering a tranquil living environment. The lots in this area are larger and more spacious than average, providing ample room for custom homes that can include workshops and larger footprints. Homes in the area are consistently selling above $500,000. The location provides easy access to Friendswood ISD schools and is minutes from shopping, dining, and major highways. This property is located in one of Friendswood’s sought-after neighborhoods.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Friendswood
    County
    Galveston
    State
    Texas
    Longitude
    -95.196025
    Latitude
    29.535455

    Nearby Similar for Sale

    • Contact for pricing
      58,800 SF

      Versatile Industrial Property in Friendswood

      Prime industrial property with modern amenities and strategic location.
      4402 Rex Rd, Friendswood, TX 77546
      View Details
    • Contact for pricing
      17,500 SF

      Houston Industrial Manufacturing Buildings For Sale

      State-of-the-art industrial development with superior connectivity and manufacturing efficiency.
      16330 Beamer Rd, Friendswood, TX 77546
      View Details
    • $274,500

      Updated Condo in Hidden Cove

      Updated 2-story condo with no front neighbors in Friendswood ISD.
      42 Hideaway Dr, Friendswood, TX 77546
      View Details
    • $249,000
      1,412 SF

      Renovated Condo in FISD

      Tranquil, renovated end-unit condo with soaring ceilings and multi-level deck.
      52 Hideaway Dr, Friendswood, TX 77546
      View Details
    • $249,999

      Upgraded Condo in Hidden Cove

      Luxurious, upgraded condo with open layout and private patio.
      53 Hideaway Dr, Friendswood, TX 77546
      View Details
    • Contact for pricing
      2,650 SF

      Drive-Thru Ready Retail Opportunity

      Retail property with drive-thru infrastructure on high-traffic corner.
      101 E Parkwood Dr, Friendswood, TX
      View Details
    • Contact for pricing
      5,563 SF

      Medical Office Building For Sale

      5,563 SF medical office building with long-term tenant.
      1729 S Friendswood Dr, Friendswood, TX 77546
      View Details
    • Contact for pricing
      15,000 SF

      Friendswood Industrial Park Investment

      Modern Flex Space, 15,000 SF
      4401 Rex Rd, Friendswood, TX 77546
      View Details
    • $7,500,000
      14,000 SF

      Friendswood Super Market - For Sale

      High-volume retail storefront, prime location.
      4321 Friendswood Link Rd, Friendswood, TX 77546
      View Details

    FAQs

    What type of property is this?
    Land - Large corner lot in Heritage Estates, ideal for custom home.
    Where is this land located?
    The property is located at 501 Colonial Dr Friendswood, TX.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: - Corner lot in Heritage Estates, offering tranquil living.; - Potential for custom home with workshop and larger footprint due to spacious lot size.; - Located in Friendswood ISD, a top-rated school district.
    (888) 519-7431
    Request Owner's contact information
    501 Colonial Dr Friendswood, TX 77546
    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.
    501 Colonial Dr
    Friendswood, TX 77546
    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
    501 Colonial Dr Friendswood, TX 77546
    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
    Ashley Diep
    (888) 519-7431
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.