Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land on FM 2978 Corner Title is generated by Realmo AI

    8617 Prine Lane, Magnolia, TX 77354

    View on Map
    Claim this Listing
    For Sale
    $799,000

    1.0829 acre tract with frontage on FM 2978.

    Type:HC, OFC, SCR
    Property size:
    1,788 SF
    Lot size:
    1.08 Acres
    Price / SF:
    $446/SF
    Added:
    Jul 10, 2024
    Days on Market:
    691
    Last Refresh:
    Apr 3 at 5:01 am

    Property Features for 8617 Prine Lane

    General Information

    Standard status
    Active
    Size
    1,788 SF
    Lot size
    1.08 Acres
    Property subtype
    HC, OFC, SCR

    We can help!

    Listing Contact
    Mark Johnson

    Listing agent Mark Johnson License #467749

    Listing office KW Commercial | The Woodlands & Magnolia | Meris Commercial Group

    Listing date Jul 10, 2024

    Source Realnex

    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 KW Commercial | The Woodlands & Magnolia | Meris Commercial Group

    HighLights

    • Located ~400 yards from new planned 4‑lane parkway connecting FM 2978 to Hwy 249.
    • Material development planned with new 4‑lane parkway on FM 2978.
    • Equidistant to new retail center anchored by CVS.
    • 1.0829 ac tract on the soft corner of FM 2978 & Prine Lane.
    • ~118' of frontage on FM 2978 (curb cut on Prine Lane).
    • Existing residence (1788 SF) with 2‑car carport, 2 septic tanks, well water, and electricity.

    Overview

    This 1.0829-acre tract is located on the corner of FM 2978 and Prine Lane, featuring approximately 118 feet of frontage on FM 2978 and a curb cut on Prine Lane. The property includes a 1,788-square-foot residence with a two-car carport, two septic tanks, well water, and electricity. It is situated approximately 400 yards south of a planned four-lane parkway that will connect FM 2978 (just south of Woodlands Parkway) to Hwy 249. The property is also equidistant to a new retail center to the south, anchored by CVS. Material development is planned with the new four-lane parkway on FM 2978.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Magnolia
    County
    Montgomery
    State
    Texas
    Longitude
    -95.594955
    Latitude
    30.183256

    Nearby Similar for Sale

    • $3,500,000
      7,973 SF

      Unrestricted Magnolia Commercial Tract

      11.29 AC unrestricted commercial tract with existing businesses.
      28631 FM 2978, Magnolia, TX 77354
      View Details
    • $995,500

      Equestrian Retreat on Unrestricted Acres

      7.42-acre equestrian property with main home and guest house.
      25429 Hardin Store Rd, Magnolia, TX 77354
      View Details
    • $1,275,000
      3,802 SF

      Farmhouse with Event Venue Potential

      Farmhouse on 7 acres with event venue and pool.
      38011 Spur 149 Road, Magnolia, TX 77354
      View Details
    • $1,350,000
      4,050 SF

      Magnolia Commercial Building For Sale

      4,050 SF commercial building in high-traffic Magnolia corridor.
      28809 Hardin Store Rd, Magnolia, TX
      View Details
    • $478,500

      Unrestricted Land with Dirt Pads

      Eight-acre property featuring two large dirt pads ready for construction.
      26156 Red Oak Dr, Magnolia, TX 77355
      View Details
    • $8,685,000
      14,857 SF

      Freestanding CVS Pharmacy Retail Store

      Freestanding CVS Pharmacy in Magnolia, TX, leased until 2044.
      29015 FM2978, Magnolia, TX 77354
      View Details
    • $1,100,000

      Farmhouse with Event Venue Potential

      Charming farmhouse on almost 7 acres with event venue potential.
      38011 Spur 149 Rd, Magnolia, TX 77354
      View Details
    • $601,332

      Magnolia Wooded Acres Opportunity

      6.6848 acres of wooded land near Magnolia's growth.
      225 Pelican St, Magnolia, TX 77355
      View Details
    • $975,000
      3 SF

      Land Near FM 1488

      3.9 acres of land near FM 1488 in Magnolia, Texas.
      33312 Lois Lane, Magnolia, TX 77354
      View Details
    • $750,000
      2,488 SF

      Unrestricted Magnolia Property with Updated Home

      5-acre property with updated home, ideal for diverse uses.
      30906 Walnut Creek Rd, Magnolia, TX 77355
      View Details
    • $1,600,000
      3,899 SF

      Magnolia Estate with Private Pond

      Spacious estate on 12 wooded acres with pond.
      13506 Stagecoach Road, Magnolia, TX 77355
      View Details
    • $5,676,295
      4,954 SF

      Clearwater Express Car Wash Property

      Car wash property for sale in Magnolia, Texas.
      14206 FM 1488, Magnolia, TX 77354
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.0829 acre tract with frontage on FM 2978.
    Where is this commercial land located?
    The property is located at 8617 Prine Lane Magnolia, 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 ~400 yards from new planned 4‑lane parkway connecting FM 2978 to Hwy 249.; Material development planned with new 4‑lane parkway on FM 2978.; Equidistant to new retail center anchored by CVS.
    We can help!
    Listing Contact
    Mark Johnson
    Real Estate License ID: 467749
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    8617 Prine Lane, Magnolia, TX 77354
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!