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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24904 Macedonia Rd Hockley, TX 77447

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

    Current Use by Public Records

    • Land

    Property Details for 24904 Macedonia Rd

    Lot size
    10.00 lot acres
    Property type
    Land
    Property subtype
    Farms

    Description

    This exceptional 10-acre property in Hockley, Texas, presents a unique investment opportunity. Located near the Grand Parkway and Highway 290, this land offers convenient access to major roadways. The property boasts a blend of mature trees and open pasture, creating a versatile landscape suitable for various uses. Existing infrastructure includes electrical connections, a well, and a septic system, though their current condition is undetermined. Three sheds provide ample storage. The property also features numerous pecan trees. Eight acres currently benefit from an agricultural exemption, adding significant tax advantages. A mobile home and pool have been removed from the property, leaving the land ready for development. The location is highly desirable, with significant new growth in the area, making this a prime opportunity for residential development, a small farm, or a recreational retreat. The property's APN is 322300-010-000-100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hockley
    County
    Waller
    State
    Texas
    Longitude
    -95.8246
    Latitude
    30.1353

    Comparable in this City

    • Value Estimation by Request
      5.63 Acres

      15534 Meadow Creek Rd

      Farms • 1,518 SF
      15534 Meadow Creek Rd, Hockley, TX 77447-8233
      View Details
    • Value Estimation by Request
      15.28 Acres

      23350 Murrell Rd

      Farms • 2,969 SF
      23350 Murrell Rd, Hockley, TX 77447
      View Details
    • Value Estimation by Request

      23550 Flavin Ln

      Farms
      23550 Flavin Ln, Hockley, TX 77447
      View Details
    • Value Estimation by Request
      5.00 Acres

      19333 Becker Rd

      Farms • 5.00 Acres
      19333 Becker Rd, Hockley, TX 77447
      View Details
    • Value Estimation by Request
      2.60 Acres

      77447 Waller County

      Investment properties • 2.60 Acres
      77447 Waller County, Hockley, TX 77447
      View Details
    • Value Estimation by Request
      14.76 Acres

      Mueschke Rd

      Land • 14.76 Acres
      0 Mueschke Rd, Hockley, TX 77447
      View Details

    Similar Nearby for Sale

    • $1,200,000
      5.00 Acres

      Prime 5-Acre Agricultural Land

      Texas farmland, unrestricted, Hwy access.
      19333 Becker Rd, Hockley, TX 77447
      View Details
    • $9,517,416

      187 Acres Multiuse Development Opportunity

      187+- acres with multiuse building and development potential.
      24668 Hegar Spg Pkwy, Hockley, TX 77447
      View Details
    • $1,625,000

      Unrestricted Acreage with Structures

      25-acre property with structures, pond, and prime road exposure.
      22940 Nichols Sawmill Rd, Hockley, TX 77447
      View Details
    • $2,900,000

      Hockley Farm and Agricultural Property

      Farm and agricultural property available in Hockley, Texas.
      Farm To Market 2920, Hockley, TX 77447
      View Details
    • $1,900,000

      Hockley Unrestricted 50-Acre Property

      50-acre unrestricted property with pastures, trees, pond, and cabin.
      24030 Hegar Rd, Hockley, TX 77447
      View Details
    • Contact for pricing
      14.76 Acres

      Northwest Houston Land - 51 Acres

      Prime Commercial/Industrial/Residential Land
      0 Mueschke Rd, Hockley, TX 77447
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Kermier Commerce Park Land Lease

      18-Acre Commercial/Industrial Land Parcel
      0 Kermier Rd, Waller, TX 77447
      View Details
    • Contact for pricing

      Hockley Land For Rent

      Land available for rent in Hockley, Texas.
      19333 Becker Rd, Hockley, TX 77447
      View Details
    • Contact for pricing
      17 SF

      Hockley Land for Lease

      17.95 AC land available for lease or build-to-suit.
      Kermier Rd, Hockley, TX 77447
      View Details
    • $12 SF/Yr
      1,800 SF

      Retail Space in Hockley, TX

      Retail space with high visibility and easy access.
      22610-22618 Fm 2920 Rd, Hockley, TX 77447
      View Details
    • Contact for pricing
      6 SF

      Industrial Building with Office Space

      Industrial building featuring office space on a 0.402 AC lot.
      18608 Kermier Rd, Hockley, TX 77447
      View Details
    • $11 SF/Yr
      8,850 SF

      Zube Business Park Warehouse For Lease

      Modern 8,850 SF Warehouse in Hockley, TX
      17531 Roberts Rd -, Hockley, TX 77447
      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.
    24904 Macedonia Rd
    Hockley, TX 77447
    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.