Alvin Mixed-Use Redevelopment
For Sale
$799,000
831 Fm 2917 Rd, Alvin, TX 77511
4-acre corner lot near Grand Parkway with income potential.
Property Size12,000 SF
Lot Size4.00 Acres
Price / SF$66.58
Days on Market172
Property Features for 831 Fm 2917 Rd
General Information
Standard status
Active
Size
12,000 SF
Lot size
4.00 Acres
Taxes and HOA fees
Annual Taxes
$30,295
Listing Agency:
Clark Realty
(979) 849-1000
Listed By:
Will Clark · License #0259190
(979) 849-1000
Source:
Exprealty
Added: Mar 4
Changed: Aug 23
Last Checked: Aug 21 at 4:38AM
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 Clark Realty
Investment Insights
Based on property information with market context.
This 4-acre hard corner property, located less than one mile from the future alignment of Grand Parkway 99 near Alvin, features multiple buildings and offers both immediate income potential and long-term redevelopment opportunities. Situated on FM 2917 in southern Brazoria County, the property currently functions as a multi-building commercial campus. The improvements total approximately 11,900 square feet across multiple commercial structures with three-phase electrical service. A separate approximately 2,000 square foot residential structure, featuring a 3-bedroom, 2-bathroom layout with an additional private suite, provides immediate rental income and live/work flexibility. There is also potential for two additional on-site apartment units. Approximately 1.5 acres of open land allows for expansion or site reconfiguration. The property is suitable for a contractor or trade headquarters, church or ministry campus, private school or training center, professional or medical conversion, or multi-family compound or phased redevelopment. This property has two addresses, 831 FM 2917 and 7010 Meadowlark Lane, Alvin, TX 77511, but it has only one tax ID.
Key Highlights
- Located less than one mile from the future Grand Parkway 99 alignment, offering significant future growth potential.
- 4‑acre hard corner property with multiple buildings and utilities in place.**
- ±11,900 SF of commercial structures with three‑phase power.**
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
$61,795
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
7.73%
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%
$1,235,900
$1.2M
Cap Rate 7%
$882,786
$882.8K
Cap Rate 9%
$686,611
$686.6K
Market Conditions
NOI Build-Up for 12,000 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
$96.5K $8.04/SF
− Vacancy
−$8.2K −$0.68/SF
EGI
$88.3K $7.36/SF
− OpEx
−$26.5K −$2.21/SF
NOI
$61.8K $5.15/SF
Area
Brazoria County, TX
Vacancy
8.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,235,900
Cap Rate 7%
$882,786
Cap Rate 9%
$686,611
Alternative Uses
Best Use
Apartment 5plus
$137.28M
$120.12M – $160.15M
NOI $9,609,257 @ 7.0% cap · market cap 1,202.66%
Second Best
Office B
$2.86M
$2.50M – $3.34M
NOI $200,337 @ 7.0% cap · market cap 25.07%
Theoretical Best
Multifamily LT 5
$149.49M
$130.80M – $174.41M
NOI $10,464,347 @ 7.0% cap · market cap 1,309.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 77511, TX
51,093
Population
20,499
Households
2.5
Avg Household Size
37
Median Age
19%
College-Educated
83%
High-School Grad
150.1 sq mi
ZIP Area
340
Density / Sq Mi
$77,015
Median Household Income
$43,119
Median Earnings
$1,213
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 4-acre corner lot near Grand Parkway with income potential.
Where is this mixed-use property located?
The property is located at 831 Fm 2917 Rd Alvin, TX.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Located less than one mile from the future Grand Parkway 99 alignment, offering significant future growth potential.; 4‑acre hard corner property with multiple buildings and utilities in place.**; ±11,900 SF of commercial structures with three‑phase power.**
