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    2902 Caroline St Houston, TX 77002

    Sponsored
    For Sale
    Contact for pricing

    1.66-acre commercial land, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1.66-acre commercial land parcel presents a unique redevelopment opportunity in Houston's vibrant Midtown district. Situated at 2902 Caroline Street, in Harris County, Texas (zip code 77002), this property boasts significant advantages for investors. The site benefits from its location within a Qualified Opportunity Zone (QOZ), offering substantial tax advantages. Importantly, it's outside the 100-year and 500-year floodplains, mitigating risk. All city utilities are readily available. The property enjoys frontage on the recently completed Caroline Street reconstruction, enhancing visibility and accessibility. Midtown's exemption from minimum parking regulations provides flexibility for development. Furthermore, its proximity to Houston's burgeoning Innovation Corridor and the Metro Rail Red Line (two blocks away) ensures strong connectivity and potential for high demand. The absence of existing zoning within the City of Houston offers developers considerable latitude in project planning. This property is ideal for a variety of commercial uses and presents a compelling investment prospect. The seller may consider leasing options, and properties may be purchased individually or as a portfolio. This is a rare chance to acquire a strategically located, high-potential development site in one of Houston's most dynamic neighborhoods.

    Property Features for 2902 Caroline St

    General Information

    Property type
    Land
    Lot Size
    72,310 SF

    HighLights

    • No zoning restrictions; located within the City of Houston.
    • Midtown location exempt from minimum parking requirements.
    • Situated outside 100‑year and 500‑year floodplains.
    • Located in a Qualified Opportunity Zone (QOZ).
    • City of Houston utilities readily available on‑site.
    • Frontage on recently completed Caroline Street reconstruction.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wonton Food Corporation Food Products Supplier Wontons Fortune, cookie ... Korean Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3704009
    Latitude
    29.752554

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    FAQs

    What type of property is this?
    Land - 1.66-acre commercial land, prime location.
    Where is this land located?
    The property is located at 2902 Caroline St Houston, TX.
    What are key features of this property?
    This property features: No zoning restrictions; located within the City of Houston.; Midtown location exempt from minimum parking requirements.; Situated outside 100-year and 500-year floodplains.
    Request Owner's contact information
    2902 Caroline St Houston, TX 77002
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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
    2902 Caroline St Houston, TX 77002
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