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    The Largest CRE Database in the US with Over 1 Million Listings

    11509 Graytown Rd Converse, TX 78109

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    For Sale
    Contact for pricing

    40 Acres, Prime Development Site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    This exceptional 40-acre commercial land parcel presents a remarkable investment opportunity in Converse, Texas. Strategically located at 11509 North Graytown Road, zip code 78109, this property boasts 1,368 feet of frontage on Loop 1604, ensuring high visibility and convenient access to major transportation arteries. Just 1.8 miles from IH-10 and 5.5 miles from FM 78, this site offers unparalleled connectivity. The property's versatile zoning allows for a multitude of development options. The front portion is zoned B-3 Commercial, the middle section R-3 Commercial, and the rear is zoned R-6 Commercial, accommodating retail, apartments, storage facilities, or a mixed-use development. This 40-acre tract is ideal for a large-scale project, capitalizing on the area's robust growth in residential and retail sectors. The APN is 16552-000-0010. A 20-acre portion presents itself as a prime redevelopment site. The asking price is $5,500,000, translating to $3.15 per square foot (gross). This presents a compelling opportunity for investors seeking significant returns in a thriving Texas market.

    Property Features for 11509 Graytown Rd

    General Information

    Property type
    Land
    Lot Size
    1,742,400 SF

    We can help!

    Listing Contact
    Donnie Walker
    Donnie Walker

    Learn more

    HighLights

    • 40‑acre commercial land parcel in Converse, TX.
    • B‑3, R‑3, and R‑6 zoning allows for diverse development options including retail, multifamily, and self‑storage.
    • High‑traffic location with excellent visibility and convenient access to Loop 1604, IH‑10, and FM 78.
    • Strong potential for redevelopment given the growing residential and retail market in the area.
    • APN: 16552‑000‑0010.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Spa & Massage Gym & Fitness Hotel & Motel HVAC Service Bed & Breakfast Travel Agency Carpet & Flooring Store Locksmith

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

    Location Insight

    • Map
    • Local Demand
    City
    Converse
    County
    Bexar
    State
    Texas
    Longitude
    -98.2953929
    Latitude
    29.4916086

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    FAQs

    What type of property is this?
    Land - 40 Acres, Prime Development Site
    Where is this land located?
    The property is located at 11509 Graytown Rd Converse, TX.
    What are key features of this property?
    This property features: 40-acre commercial land parcel in Converse, TX.; B-3, R-3, and R-6 zoning allows for diverse development options including retail, multifamily, and self-storage.; High-traffic location with excellent visibility and convenient access to Loop 1604, IH-10, and FM 78.
    Request Owner's contact information
    11509 Graytown Rd Converse, TX 78109
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    Converse, TX 78109
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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
    11509 Graytown Rd Converse, TX 78109
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    We can help!
    Listing Contact
    Donnie Walker
    Donnie Walker
    Real Estate License ID: TX
    Learn more
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