Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    23001 Tx-242 Roman Forest, TX 77357

    • Land
    • 22.23 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 23001 Tx-242

    Lot size
    22.23 lot acres
    Property type
    Land

    Description

    This exceptional 22.23-acre tract of land presents a remarkable investment opportunity in Montgomery County, Texas. Located at 23001 TX-242, New Caney, 77357, this property boasts direct access to SH 242 and close proximity to the Eastex Freeway, ensuring excellent visibility and accessibility. Served by East Montgomery County MUD 4, utilities are available on-site. While there is no permitted zoning, restricted covenants are in place. The property is situated outside the flood plain, with mostly off-site detention provided, although a portion of a detention pond/drainage easement is located on the site. The tax rate is 3.7104%, and the property falls within the Splendora ISD. This prime development site offers significant potential for a variety of uses, including retail, multi-family, build-to-rent, single-family residential, RV park, self-storage, manufactured housing, and more. The property's strategic location, coupled with strong surrounding demographics and high single-family home values, makes it an ideal investment for developers seeking a high-return opportunity. Note that restrictions are in place prohibiting certain uses, including grocery stores, convenience stores with food departments exceeding 1,500 square feet, pharmacies, fuel stations, car washes, telecommunication towers, pawn shops, adult bookstores, schools, and churches. The APN is R529469, and the legal description is A0434 - Peters H A, TRACT 8A-2. Ownership is held by Bay Mountain Fund I LLC.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Roman Forest
    County
    Montgomery
    State
    Texas
    Longitude
    -95.2042
    Latitude
    30.1927

    Comparable in this City

    • Value Estimation by Request
      2.40 Acres

      22546 Lawsuit Ln

      Land • 2.40 Acres
      22546 Lawsuit Ln, New Caney, TX 77357
      View Details
    • Value Estimation by Request
      10.50 Acres

      19320 Willaby Rd

      Farms • 10.50 Acres
      19320 Willaby Rd, New Caney, TX 77357
      View Details
    • Value Estimation by Request
      4.30 Acres

      20765 Sullivan Rd

      Land • 187,308 SF
      20765 Sullivan Rd, New Caney, TX 77357
      View Details
    • Value Estimation by Request
      6.26 Acres

      20025 Heights Blvd

      Multifamily properties • 4,500 SF
      20025 Heights Blvd, New Caney, TX 77357
      View Details
    • Value Estimation by Request
      0.92 Acres

      22899 Gabriel Rd

      Land • 0.92 Acres
      22899 Gabriel Rd, Roman Forest, TX 77357
      View Details
    • Value Estimation by Request
      0.92 Acres

      Appian Way

      Land • 0.92 Acres
      0 Appian Way, Roman Forest, TX 77357
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3.28 Acres

      I-69 & Legion Rd Commercial Land

      3.28 Acres, Prime Location, Development Ready
      21192 Legion Rd, New Caney, TX 77357
      View Details
    • $450,000
      6.26 Acres

      New Caney 6.26-Acre Multi-Use Property

      6.26 acres, unrestricted, near Grand Parkway.
      20025 Heights Blvd, New Caney, TX 77357
      View Details
    • $650,000
      0.92 Acres

      North Houston Industrial Space For Sale

      10,052 SF Crane-Ready Warehouse, Harris County
      22899 Gabriel Rd, Roman Forest, TX 77357
      View Details
    • $789,900
      2.40 Acres

      New Caney Commercial Land

      2.4 Acres, Prime Location, Opportunity Zone
      22546 Lawsuit Ln, New Caney, TX 77357
      View Details
    • Contact for pricing

      New Caney Residential Land - Build Your Dream Home

      Spacious lot, no HOA, build your dream home.
      0 Idle Wilde Roadway, New Caney, TX 77357
      View Details
    • $958,219
      1.05 Acres

      Prime New Caney Commercial Land

      1.05 Acres, High Traffic Location, $958,219
      22780 Tx-242, New Caney, TX 77357
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Speed Street Pad Site: Prime Location

      1.3-Acre Commercial Land, New Caney, TX
      23050 Speed St, New Caney, TX 77357
      View Details
    • Contact for pricing

      25-Acre Commercial Land, New Caney

      Unrestricted land, ideal for development.
      150 Plum Grv Rd, Roman Forest, TX 77357
      View Details
    • Contact for pricing

      Land Available on FM 1485

      1.474 acres for ground lease or build-to-suit opportunity.
      18546 Fm 1485 Rd, New Caney, TX 77357
      View Details
    • $10,000 /Mo

      High Visibility Land on Loop

      Land with versatile use potential on busy Loop 494.
      21398 Loop 494, New Caney, TX 77357
      View Details
    • $15 SF/Yr
      1,100 SF

      Retail Space in New Caney

      Retail, office, or restaurant space in a prime location.
      22480-22580 Community Dr, New Caney, TX 77357
      View Details
    • $319,800
      2,105 SF

      Mixed-Use Property in High-Growth Corridor

      Commercial opportunity with residence, pool, and expansion potential.
      22450 Oakley Rd, New Caney, TX 77357
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23001 Tx-242
    Roman Forest, TX 77357
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.