Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Eldridge Pkwy Tomball, TX 77375
    Property profile & analytics

    Eldridge Pkwy Tomball, TX 77375

    View on Map
    • Mixed-use properties
    • 1,416 SF
    • 1.53 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 0 Eldridge Pkwy

    Year built
    1969
    Lot size
    1.53 lot acres
    Property size
    1,416 SF
    Property type
    Mixed-use properties
    Property subtype
    Land

    Description

    This exceptional investment opportunity presents a 1.53-acre mixed-use property in Tomball, Texas, ideally located near the intersection of N Eldridge Parkway and Spring Cypress. The property encompasses five units, with building sizes ranging from 1,416 to 1,932 square feet, including a 3,000 square foot vehicle repair shop with office space. All units are currently leased, generating established rental income. Built between 1969 and 1990, this Class C property offers significant potential for future growth, situated in a rapidly developing area with high residential and commercial density. The property benefits from excellent visibility and high traffic counts, with over 7,000 vehicles daily on N Eldridge Parkway and over 24,000 vehicles daily on Spring Cypress. Its convenient location provides easy access to SH 249 and the Grand Parkway (99). Located in Harris County and within the Tomball ISD, the property's 2017 total tax rate was $2.17 per $100 of assessed value. This is a prime opportunity for investors seeking a multifamily property with development potential in a high-growth area. The asking price is $1,000,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tomball
    County
    Harris
    State
    Texas
    Longitude
    -95.5964
    Latitude
    30.0178

    Comparable in this City

    • Value Estimation by Request
      49.69 Acres

      Sec Of Sh 249 & Brown Rd

      Multifamily properties • 49.69 Acres
      0 Sec Of Sh 249 & Brown Rd, Tomball, TX 77375
      View Details
    • Value Estimation by Request

      26000 Tx-249

      Land
      26000 Tx-249, Tomball, TX 77375
      View Details
    • Value Estimation by Request
      10.89 Acres

      21801 Hufsmith - Kohrville Rd

      Land • 474,212 SF
      21801 Hufsmith - Kohrville Rd, Tomball, TX 77375
      View Details
    • Value Estimation by Request
      36.40 Acres

      21725 Hufsmith - Kohrville Rd

      Land • 36.40 Acres
      21725 Hufsmith - Kohrville Rd, Tomball, TX 77375
      View Details
    • Value Estimation by Request
      2.30 Acres

      Farm To Market 2920

      Land • 2.30 Acres
      0 Farm To Market 2920, Tomball, TX 77375
      View Details
    • Value Estimation by Request
      17.51 Acres

      23566 Coons Rd

      Land • 17.51 Acres
      23566 Coons Rd, Tomball, TX 77375
      View Details

    Similar Nearby for Sale

    • $3,500,000

      Tomball Mixed-Use Land Opportunity

      10.15 Acres in Tomball designated for mixed-use development.
      00 Michel Rd, Tomball, TX 77375
      View Details
    • Contact for pricing
      2.30 Acres

      ±2.3 Acres Tomball Commercial Land

      Prime Tomball land, ideal for mixed-use development.
      0 Farm To Market 2920, Tomball, TX 77375
      View Details
    • Contact for pricing

      Corner Lot Near Highway 249

      Corner lot suitable for multifamily, industrial, or storage development.
      18531 Hufsmith - Kohrville Rd, Tomball, TX 77375
      View Details
    • Contact for pricing

      17.51 Acres Development Opportunity

      17.51-acre tract ideal for multi-family, industrial, or storage development.
      23566 Coons Rd, Tomball, TX 77375
      View Details
    • Contact for pricing
      5,900 SF

      Warehouse with Residence on Acres

      5,900 SF warehouse with residence on 12 acres.
      11031 Spell Rd, Tomball, TX 77375
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      Sec Of Sh 249 & Brown Rd, Tomball, TX 77375
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Class A Mixed-Use Business Park

      Class A mixed-use business park in Tomball, TX for lease.
      25115 Fm 2978 Rd, Tomball, TX 77375
      View Details
    • Contact for pricing

      Class A Mixed-Use Business Park

      Mixed-use business park with retail, industrial, and flex spaces.
      25155 Fm 2978 Rd, Tomball, TX 77375
      View Details
    • Contact for pricing

      Land For Rent Tomball, TX

      Land available for rent in Tomball, Texas.
      25527 State Highway 249, Tomball, TX 77375
      View Details
    • Contact for pricing

      Tomball Land and Retail Space

      Land and retail spaces available for lease in Tomball.
      26209 Kuykendahl Rd, Tomball, TX 77375
      View Details
    • Contact for pricing

      1.5 Acres Ground Lease

      1.5 acres available for ground lease, ideal for QSR.
      24720-24730 State Highway 249, Tomball, TX 77375
      View Details
    • $10 SF/Yr

      Tomball Development Opportunity Near Highway

      2.54-acre tract suitable for medical, retail, office, or elder care.
      Medical Complex Dr, Tomball, TX 77375
      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.
    Eldridge Pkwy
    Tomball, TX 77375
    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

    Thank You for Inquiry
    Eldridge Pkwy, Tomball, TX, 77375
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!