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    190 Co Rd 404 Pecos, TX 79772

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    For Sale
    Contact for pricing

    Prime 20-acre commercial land, ready for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    411
    This exceptional 20-acre commercial land parcel, situated at 190 Co Rd 404, Pecos, TX 79772, presents a unique investment opportunity. Located in Reeves County within the Extra Territorial Jurisdiction (ETJ) Opportunity Zone, this cleared site boasts completed designs for a 306-unit Class A RV park. Detailed civil engineering and architectural landscape plans are in place, along with secured city permits and a reputable general contractor selected. The property enjoys convenient access to city water, sewer, and Texas New Mexico Power (TNMP). The planned RV park features extensive amenities, including a 6,000 sq ft community center, laundry room, workout room, party room, on-site management, private showers, privacy fencing, video surveillance, a pickleball court, basketball court, playground, horseshoe pits, cornhole, a walking trail, and an automatic gated entrance with tractor-trailer parking. An additional 36 acres of commercial land directly across the street offers further expansion potential, available for lease or purchase, ideal for supporting commercial buildings, trucking, and storage yards. Construction can commence immediately, with an estimated completion time of six months or less. This property is ideally suited for a Permian Basin oil field company seeking ample RV parking and commercial trucking yard space. The property is individually owned and zoned ETJ.

    Property Features for 190 Co Rd 404

    General Information

    Property type
    Land
    Lot Size
    871,200 SF

    We can help!

    Listing Contact
    Derrick Garnett

    Learn more

    HighLights

    • 20‑acre cleared site with approved plans for a 306‑unit Class A RV park featuring modern amenities.
    • Located in Pecos, TX ETJ Opportunity Zone, with city utilities (water, sewer, power) readily available.
    • Amenities include a 6,000 sq ft community center, laundry, fitness center, and recreational facilities (pickleball, basketball, playground).
    • Includes completed civil engineering, architectural landscape design, and city permits; general contractor selected.
    • Adjacent 36‑acre commercial parcel available for lease or purchase, ideal for supporting businesses serving the RV park.
    • Ready for immediate construction, with estimated completion within 6 months.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Pecos
    County
    Reeves
    State
    Texas
    Longitude
    -103.527511
    Latitude
    31.434345

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    FAQs

    What type of property is this?
    Land - Prime 20-acre commercial land, ready for development.
    Where is this land located?
    The property is located at 190 Co Rd 404 Pecos, TX.
    What are key features of this property?
    This property features: 20-acre cleared site with approved plans for a 306-unit Class A RV park featuring modern amenities.; Located in Pecos, TX ETJ Opportunity Zone, with city utilities (water, sewer, power) readily available.; Amenities include a 6,000 sq ft community center, laundry, fitness center, and recreational facilities (pickleball, basketball, playground).
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    Pecos, TX 79772
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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
    190 Co Rd 404 Pecos, TX 79772
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    We can help!
    Listing Contact
    Derrick Garnett
    Real Estate License ID: TX 0612446
    Learn more
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