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    Prime Retail Pad Site Opportunity Title is generated by Realmo AI

    SH-146 & Tompkins Drive, Baytown, TX 77520

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    Hard corner pad site in flourishing Baytown market.

    Type:Land
    Lot size:
    1.09 Acres
    Added:
    Sep 2, 2021
    Days on Market:
    1741
    Last Refresh:
    May 19 at 8:37 pm

    Property Features for SH-146 & Tompkins Drive

    General Information

    Standard status
    Active
    Lot size
    1.09 Acres
    Property subtype
    Land

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    Listing Contact
    Joshua Sebesta

    Listing agent Joshua Sebesta License #TX

    Listing office S&P Interests

    Listing date Sep 2, 2021

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of S&P Interests

    HighLights

    • Prime hard corner location at the intersection of SH 146 & Tompkins Dr, offering exceptional visibility and accessibility.
    • High traffic location with 179 ft frontage on SH 146 and 215 ft frontage on Tompkins Dr.
    • Strong demographics with high population and average household income within 1, 3, and 5‑mile radii.
    • Located in the flourishing Baytown market, near major employers ensuring a significant daytime population.
    • Ingress/egress from both SH 146 and Tompkins Dr, plus cross access with Walgreens to a signalized intersection.
    • Pad site is 1.09 acres (47,613 sq ft) adjacent to Walgreens.

    Overview

    This retail property is a hard corner pad site located at the southwest corner of SH 146 and Tompkins Drive in Baytown, Texas. The property, adjacent to Walgreens on SH 146, has 179 feet of frontage on SH 146 and 215 feet of frontage on Tompkins Drive. It offers ingress and egress from both SH 146 and Tompkins Drive and benefits from cross access with Walgreens to the signalized intersection at Massey Tompkins Road and SH 146. The site has a total area of 1.09 acres, equivalent to 47,613 square feet. Located at the entrance to the Whispering Pines residential community, the property is positioned for retail development. The surrounding area includes major employers such as Exxon Mobile, Chevron Phillips, Valero, Bayer Chemical, Calpine, and Ameriport. The population within a 1-mile radius is 15,277, with an average household income of $79,246. Within a 3-mile radius, the population is 115,200, with an average household income of $85,145. Within a 5-mile radius, the population is 252,506, with an average household income of $95,745.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Baytown
    County
    Chambers
    State
    Texas
    Longitude
    -94.894
    Latitude
    29.7803

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    FAQs

    What type of property is this?
    Commercial land - Hard corner pad site in flourishing Baytown market.
    Where is this commercial land located?
    The property is located at SH-146 & Tompkins Drive Baytown, TX.
    What are key features of this property?
    This property features: Prime hard corner location at the intersection of SH 146 & Tompkins Dr, offering exceptional visibility and accessibility.; High traffic location with 179 ft frontage on SH 146 and 215 ft frontage on Tompkins Dr.; Strong demographics with high population and average household income within 1, 3, and 5‑mile radii.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joshua Sebesta
    Real Estate License ID: 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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