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    Portland, TX Land Opportunity Title is generated by Realmo AI

    623 Commerce Street lot 1 & 1A Row, Portland, TX 78374

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    Claim this Listing
    For Sale
    $110,000

    LAND - Portland, TX

    Lot size:
    0.29 Acres
    Added:
    Aug 31, 2025
    Days on Market:
    257
    Last Refresh:
    May 14 at 8:06 pm

    Property Features for 623 Commerce Street lot 1 & 1A Row

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    OT2
    Standard status
    Active
    APN
    70416
    Lot size
    0.29 Acres

    Taxes and HOA fees

    Tax Description
    PORTLAND TIER E BLK 3 LOT 1A

    We can help!

    Listing Contact
    Brenton Reagan
    Brenton Reagan

    Listing agent Brenton Reagan License #0669077

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

    Listing date Aug 31, 2025

    MLS# 465211 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

    • Zoned Olde Town II, allowing Special Permits for mixed‑use development (Commercial, Residential, Light Industrial).
    • Two combined lots totaling 0.285 acres with approximately 95 feet of road frontage on Commerce Street.
    • Located near the City's new Leisure & Entertainment District.
    • Potential for assemblage with adjacent properties to create approximately 370 feet of frontage.
    • Rectangular Lot 1 is 142.5' deep x 25' along the road.
    • City water and sewer are nearby.

    Overview

    This 0.285-acre property consists of two lots, offering approximately 95 feet of road frontage on Commerce Street in Portland. Lot 1 is rectangular, measuring 142.5 feet deep and 25 feet along the road. Lot 1A is an old street Right of Way, measuring 70 feet across the street with a varying depth of approximately 107 to 147 feet. The property is zoned in the Olde Town II district, which allows special permits for mixed-use developments. Permitted uses include commercial spaces such as retail or office space, single-family residential, certain types of multi-family residential, and light industrial uses such as self-storage or metal warehouses. The property is located near the city's new Leisure & Entertainment District and is adjacent to three other properties for sale. Purchasing all four properties could result in approximately 370 feet of frontage. An overhead electric line is located in the back. City water and sewer services are nearby, but the city would charge for tapping into the lines. The buyer is responsible for determining gas availability and utility installation costs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Portland
    County
    San Patricio
    State
    Texas
    Longitude
    -97.320778
    Latitude
    27.875244

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    FAQs

    What type of property is this?
    Commercial land - 0.285 acre property in Portland's Olde Town II district.
    Where is this commercial land located?
    The property is located at 623 Commerce Street lot 1 & 1A Row Portland, TX.
    What is the asking price?
    The asking price for this property is $110,000.
    What are key features of this property?
    This property features: Zoned Olde Town II, allowing Special Permits for mixed‑use development (Commercial, Residential, Light Industrial).; Two combined lots totaling 0.285 acres with approximately 95 feet of road frontage on Commerce Street.; Located near the City's new Leisure & Entertainment District.
    (512) 736-2695
    We can help!
    Listing Contact
    Brenton Reagan
    Brenton Reagan
    Real Estate License ID: 0669077
    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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