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

    17560 Tx-242 Roman Forest, TX 77357

    • Land
    • 17.69 lot acres
    For Sale
    View listing
    $9,538,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 17560 Tx-242

    Lot size
    17.69 lot acres
    Property type
    Land

    Description

    This exceptional 17.69-acre commercial land parcel presents a remarkable investment opportunity in the thriving New Caney, Texas market. Strategically positioned at the intersection of Highway 242 and Big Rivers Road, this property boasts an impressive 1,552 feet of frontage along the heavily trafficked Highway 242. The high visibility and accessibility are further enhanced by its proximity to major transportation arteries, including Interstate 69 and Highway 99. Daily traffic counts exceeding 79,819 vehicles on US 59 and 8,509 vehicles on Highway 242 ensure significant exposure for any development. The site's zoning and utilities, provided by EMC MUD#4, are ideal for a variety of commercial uses, including multi-family residential or retail developments. Its location near popular attractions like Big Rivers Water Park and Speed Sportz Raceway adds to its appeal. The asking price is $9,538,000, translating to a land value of $12.37 per square foot. The property's APN is 0382-00-00121. Seller financing options are available. This property offers significant potential for substantial returns in a rapidly growing area. Don't miss this chance to acquire a prime piece of commercial real estate in Montgomery County, Texas.

    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
    -95.2171
    Latitude
    30.194

    Comparable in this City

    • Value Estimation by Request

      21066 Us-59

      Land
      21066 Us-59, New Caney, TX 77357
      View Details
    • Value Estimation by Request
      1.05 Acres

      22780 Tx-242

      Restaurants • 1.05 Acres
      22780 Tx-242, New Caney, TX 77357
      View Details
    • Value Estimation by Request

      3011 Roman Forest Blvd

      Land
      3011 Roman Forest 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
      2.38 Acres

      27965 Fm 1485 Rd

      Land • 2.38 Acres
      27965 Fm 1485 Rd, New Caney, TX 77357
      View Details
    • Value Estimation by Request
      9.78 Acres

      19308 Fm 1485 Rd

      Land • 9.78 Acres
      19308 Fm 1485 Rd, New Caney, TX 77357
      View Details

    Similar Nearby for Sale

    • $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
      38.00 Acres

      Prime New Caney Commercial Land

      38 Acres, SH 99 Frontage, High Growth
      SH 99 Fm 1485 @ Grand Pkwy, New Caney, TX 77357
      View Details
    • $2,495,800
      10.56 Acres

      Prime Hwy 242 Commercial Land

      10.55 Acres, High Traffic, Opportunity Zone
      23019 Tx-242, Roman Forest, TX 77357
      View Details
    • Contact for pricing

      Prime New Caney Land - US 59

      9+ Acres, Pad Sites Available, High Traffic
      21066 Us Highway 59, New Caney, TX 77357
      View Details
    • $9,538,000
      17.69 Acres

      Hwy 242 Commercial Land

      17.69 Acres, Prime New Caney Location
      17560 Tx-242, Roman Forest, TX 77357
      View Details
    • $1,700,000
      9.78 Acres

      9.78 Acres Commercial Land, New Caney, TX

      Prime Commercial/Industrial Land, High Traffic
      19308 Fm 1485 Rd, 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.
    17560 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.