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    Tx-359 Orange Grove, TX 78372

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    For Lease
    Contact for pricing

    New Retail Center - High Traffic Area

    Lot size:
    12,414 SF

    Property Features for 0 Tx-359

    General Information

    Property type
    Retail properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,414 SF
    Total Rate
    18621

    Building Details

    Year Built
    2023

    Spaces For Lease

    at 0 Tx-359, Orange Grove, TX 78372 Contact us
    Unit Available Space

    $24 /Mo

    Size
    12,414 SF
    Contact us

    We can help!

    Listing Contact
    Lynann Pinkham
    Lynann Pinkham

    Listing Agency: Cravey Real Estate Services, Inc. Listing Agent: Lynann Pinkham

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This brand-new, 12,414 square foot retail center is now pre-leasing in Jim Wells County, Texas. Strategically located on State Highway 359 at the corner of FM 624, this development offers exceptional visibility and accessibility. The center boasts approximately 60-foot retail depths, providing ample space for various businesses. A key feature is the potential for drive-throughs on each end cap, enhancing convenience and attracting customers. One proposed space, suitable for a convenience store, measures approximately 5,298 square feet and sits on approximately 1.10 acres, priced at $14.00 per square foot. The property offers direct visibility to State Highway 359 and convenient access from Leona Street, connecting to FM 624. Benefit from high traffic counts, with approximately 7,800-9,600 vehicles daily on FM 624 (2020 data) and approximately 6,700 vehicles daily on SH 359. The building was completed in 2023 and is designed to accommodate multiple tenants. Contact us today to inquire about available space sizes and lease terms for this prime retail opportunity. This is a rare chance to secure a space in a newly constructed center in a high-traffic location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Orange Grove
    County
    Jim Wells
    State
    Texas
    Longitude
    -97.93607
    Latitude
    27.95819

    Nearby Similar for Lease

    • $18 SF/Yr
      12,414 SF

      Retail Center on State Highway

      Proposed retail center with drive-through potential on State Highway.
      359 State Hwy, Orange Grove, TX
      View Details

    FAQs

    What type of property is this?
    Retail property - New Retail Center - High Traffic Area
    Where is this retail property located?
    The property is located at Tx-359 Orange Grove, TX.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: New 12,414 SF retail center in Jim Wells County.; Pre-leasing opportunity with multiple tenant spaces available.; Located on State Highway 359 and FM 624, offering high visibility.
    (361) 288-3102 Call to check price and availability
    Request Owner's contact information
    Tx-359 Orange Grove, TX 78372
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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
    Tx-359 Orange Grove, TX 78372
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Lynann Pinkham
    Lynann Pinkham
    Real Estate License ID: 319336
    (361) 288-3102 (361) 815-2155 (361) 289-5168
    Learn more
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