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    Eldridge Pkwy Tomball, TX 77375

    For Sale
    $1,000,000

    5-unit multifamily, development potential.

    Property size:
    1,416 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional investment opportunity presents a 1.53-acre mixed-use property in Tomball, Texas, ideally located near the intersection of N Eldridge Parkway and Spring Cypress. The property encompasses five units, with building sizes ranging from 1,416 to 1,932 square feet, including a 3,000 square foot vehicle repair shop with office space. All units are currently leased, generating established rental income. Built between 1969 and 1990, this Class C property offers significant potential for future growth, situated in a rapidly developing area with high residential and commercial density. The property benefits from excellent visibility and high traffic counts, with over 7,000 vehicles daily on N Eldridge Parkway and over 24,000 vehicles daily on Spring Cypress. Its convenient location provides easy access to SH 249 and the Grand Parkway (99). Located in Harris County and within the Tomball ISD, the property's 2017 total tax rate was $2.17 per $100 of assessed value. This is a prime opportunity for investors seeking a multifamily property with development potential in a high-growth area. The asking price is $1,000,000.

    Property Features for 0 Eldridge Pkwy

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,416 SF
    Class
    C
    Lot Size
    66,647 SF

    Building Details

    Year Built
    1969
    Units
    5

    HighLights

    • Strong investment opportunity with existing rental income.
    • Building sizes range from 1,416 SF to 3,000 SF, including a vehicle repair shop with office space.
    • Prime location in a rapidly growing area with high future potential.
    • Convenient access to SH 249 and the Grand Parkway (99).
    • High‑density residential and commercial area.
    • High traffic counts: over 7,000 vehicles daily on N Eldridge Parkway and over 24,000 vehicles daily on Spring Cypress Road.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Tomball
    County
    Harris
    State
    Texas
    Longitude
    -95.5963711
    Latitude
    30.0177986

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    FAQs

    What type of property is this?
    Multifamily property - 5-unit multifamily, development potential.
    Where is this multifamily property located?
    The property is located at Eldridge Pkwy Tomball, TX.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Strong investment opportunity with existing rental income.; Building sizes range from 1,416 SF to 3,000 SF, including a vehicle repair shop with office space.; Prime location in a rapidly growing area with high future potential.
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    Realmo Value Estimation

    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.

    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.

    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
    Eldridge Pkwy Tomball, TX 77375
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