Mixed-Use Development Tract with
For Sale
$1,499,000
851 County Road 149, Alvin, TX 77511
Unrestricted 30-acre tract with a 4,275 sq. ft. office building and approved plans for a 273-space RV park.
Property Size4,275 SF
Lot Size30.00 Acres
Price / SF$350.64
Days on Market115
Property Features for 851 County Road 149
General Information
Standard status
Active
Size
4,275 SF
Lot size
30.00 Acres
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$26,055
Amenities
Views
Waterfront
Wooded
Listing Agency:
COMPASS RE TEXAS, LLC - HOUSTON
(832) 899-4788
Listed By:
BRAD HERMES · License #510438
(713) 621-8001
Source:
Corcoran
Added: May 14
Changed: Sep 4
Last Checked: Aug 23 at 5:46AM
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 COMPASS RE TEXAS, LLC - HOUSTON
Investment Insights
Based on property information with market context.
This unrestricted commercial development tract spans 30 acres and includes an existing 4,275 sq. ft. office building. The property is also accompanied by plans for a 273-space RV park, supporting immediate development activity alongside the existing improvements.
The site is described as having flat topography and being positioned in the Alvin market. Public remarks note proximity to the Houston metro, the petrochemical corridor, and Gulf Coast traffic, with strong population growth referenced as a demand driver.
In addition to RV park development, the property is presented as suitable for mixed-use commercial, an industrial service yard, flex space, or hospitality development, based on the stated land attributes and existing onsite infrastructure.
The site is described as having flat topography and being positioned in the Alvin market. Public remarks note proximity to the Houston metro, the petrochemical corridor, and Gulf Coast traffic, with strong population growth referenced as a demand driver.
In addition to RV park development, the property is presented as suitable for mixed-use commercial, an industrial service yard, flex space, or hospitality development, based on the stated land attributes and existing onsite infrastructure.
Key Highlights
- Unrestricted 30‑acre tract in the Alvin market with a 4,275 sq. ft. existing office building
- Approved plans for a 273‑space RV park
- Flat topography on the 30‑acre site
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
$71,370
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
4.76%
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%
$1,427,400
$1.4M
Cap Rate 7%
$1,019,571
$1.0M
Cap Rate 9%
$793,000
$793.0K
Market Conditions
NOI Build-Up for 4,275 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
$126.7K $29.64/SF
− Vacancy
−$31.6K −$7.38/SF
EGI
$95.2K $22.26/SF
− OpEx
−$23.8K −$5.56/SF
NOI
$71.4K $16.69/SF
Area
Brazoria County, TX
Vacancy
24.90%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
25.00%
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%
$1,427,400
Cap Rate 7%
$1,019,571
Cap Rate 9%
$793,000
Alternative Uses
Best Use
Office B
$1.02M
$892.1K – $1.19M
NOI $71,370 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$53.26M
$46.60M – $62.13M
NOI $3,727,924 @ 7.0% cap · market cap 248.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
86
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Unrestricted 30-acre tract with a 4,275 sq. ft. office building and approved plans for a 273-space RV park.
Where is this office building located?
The property is located at 851 County Road 149 Alvin, TX.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Unrestricted 30‑acre tract in the Alvin market with a 4,275 sq. ft. existing office building; Approved plans for a 273‑space RV park; Flat topography on the 30‑acre site
