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    19960 Tx-242 Conroe, TX 77306

    For Sale
    $3,500,000

    7% Cap Rate, Multi-Tenant Warehouse

    Property size:
    22,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents a 22,700-square-foot industrial portfolio in Conroe, Texas, boasting a compelling 7.05% capitalization rate and a strong net operating income (NOI) of $246,629. The property comprises five Class C warehouses situated on a seven-acre lot, currently 100% leased to five tenants under a triple-net (NNN) lease structure. Built in 2004, each warehouse features 18-foot ceilings, heavy power, large grade-level doors, and ample outside storage. The property also includes a billboard lease, adding to its income stream. All buildings are fully insulated and have never experienced flooding. The asking price is $3,500,000, translating to $154.19 per square foot. Below-market rents present a significant opportunity for future income growth. Seller financing is available, making this an attractive proposition for investors seeking a stable, high-yielding asset in a thriving Texas market. The property is located at 19960 TX-242, Conroe, TX 77306, within Montgomery County. This multi-tenant industrial complex offers a diversified income stream and significant potential for long-term appreciation.

    Property Features for 19960 Tx-242

    General Information

    Property type
    Distribution properties
    Square Feet
    22,700 SF
    Class
    C
    Lot Size
    304,920 SF

    Building Details

    Year Built
    2004
    Buildings
    5
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Map

    City
    Conroe
    County
    Montgomery
    State
    Texas
    Longitude
    -95.2643858
    Latitude
    30.2168132

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    FAQs

    What type of property is this?
    Distribution property - 7% Cap Rate, Multi-Tenant Warehouse
    Where is this distribution property located?
    The property is located at 19960 Tx-242 Conroe, TX.
    What is the asking price?
    The asking price for this property is $3,500,000.
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    19960 Tx-242 Conroe, TX 77306
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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
    19960 Tx-242 Conroe, TX 77306
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