11023 Ostermeyer Rd Galveston, TX 77554
This exceptional 8.735-acre tract, located at 11023 Ostermeyer Road in Galveston, Texas (77554), presents a unique development opportunity. Zoned for both residential and agricultural use, this unimproved land offers 330 feet of frontage directly on Ostermeyer Road. Its strategic location provides convenient access to both the Gulf of Mexico (less than ¾ mile away) and Galveston Bay (under 1.5 miles). The property is situated in an AE Flood Zone. Imagine building your dream "ranchette" with potential water views, perfect for equestrian enthusiasts or those seeking a tranquil country setting. The property's proximity to the renowned Los Palmas ranch (approximately 750 feet) adds to its appeal. The asking price is $399,000, translating to approximately $45,678.31 per acre. The seller is open to offers and also willing to consider selling adjacent properties: a 12.2-acre parcel at 12101 Ostermeyer Road and a 3.6-acre lot at 11918 Stewart Road. A survey is available for review, and buyers are encouraged to verify details with their chosen title company. The property's APN is 7206-0000-0256-001. This is an investment opportunity not to be missed.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.