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23639 Highway 6 Hempstead, TX 77445
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Prime TX Rail-Served Commercial Land
Description
Added:
Dec 11, 2024
Days on Market:
409
This exceptional commercial land offering, known as the RCR Hempstead Logistics Park, presents a unique opportunity for significant development. Located in Waller County, Texas, at the intersection of Highway 6 and US Highway 290, this ±167.1-acre site boasts unparalleled access to major transportation arteries, including Interstates I-10, I-45, and Texas State Highway 99 (Grand Parkway). The property includes approximately ±42 acres of rail-served land and ±25 acres of non-rail-served land, providing flexibility for various development scenarios. Union Pacific rail service is readily available, offering manifest rail service, transload capabilities, and future unit train capacity, along with rail car storage and switching. The site is strategically positioned within two miles of a new HEB distribution center and approximately 50 miles northwest of Houston, placing it within 150 miles of five major Texas ports. Conceptual building sizes range from 50,000 to 500,000 square feet, with several rail-served buildings planned at approximately 172,250 sq ft, 197,400 sq ft, 122,400 sq ft, 69,300 sq ft, and a 180,000 sq ft building with transload capabilities. The park benefits from City of Hempstead utilities, including water and regional stormwater detention. Electricity is provided by San Bernard Electric Cooperative via a Phase 3, 12,500-volt line, with a redundant line planned. Fiber optic service is also available. The location offers access to a competitively priced labor pool. The park features controlled access and security, ensuring a safe and efficient operating environment. This is an ideal location for businesses seeking efficient logistics and distribution solutions in a rapidly growing Texas market.
Property Features for 23639 Highway 6
General Information
Property type
Land
Lot Size
217,800 SF
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Listing Contact
Hydie McAlister
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HighLights
±167‑acre commercial land site available for sale; ±42 acres rail‑served, ±125 acres non‑rail‑served.
Located approximately 50 miles northwest of Houston, within 150 miles of five major Texas ports.
Two miles from a new HEB distribution center in Hempstead, TX.
Prime highway access at the intersection of TX Hwy 6 and US Hwy 290, providing easy access to I‑10, I‑45, and the Grand Parkway.
Union Pacific rail service offering manifest rail, transload, and future unit train capacity, plus rail car storage and switching.
Proposed rail‑served buildings: 172,250 sq ft, 197,400 sq ft, 122,400 sq ft, 69,300 sq ft; one 180,000 sq ft building with transload capabilities.
The property is located at 23639 Highway 6 Hempstead, TX.
What are key features of this property?
This property features: ±167-acre commercial land site available for sale; ±42 acres rail-served, ±125 acres non-rail-served.; Located approximately 50 miles northwest of Houston, within 150 miles of five major Texas ports.; Two miles from a new HEB distribution center in Hempstead, TX.
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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.
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23639 Highway 6 Hempstead, TX 77445
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23639 Highway 6, Hempstead, TX
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23639 Highway 6, Hempstead, TX
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