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    146 At Wharton Weems Blvd La Porte, TX 77571

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    146 At Wharton Weems Blvd La Porte, TX 77571

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    • Retail properties & Spaces

    Property Details for 146 At Wharton Weems Blvd

    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial and industrial land opportunity presents 7.97 to 9 acres of prime retail space within the master-planned Port Crossing Commerce Center in La Porte, Texas. Situated at the intersection of Highway 146 and Wharton Weems Boulevard, this property boasts excellent visibility and accessibility. The zoning is Planned Urban Development, designated by the City of La Porte within Harris County. The site offers multiple tenancy options, ideal for developers seeking to build a retail center or for businesses looking to establish a significant presence in a high-traffic area. Two spaces are currently available for development. Its strategic location provides unparalleled access to major transportation arteries, placing businesses within three miles of both Barbours Cut and Bayport Container Terminals. This presents a unique advantage for businesses involved in import/export or logistics, offering significant cost savings and efficiency gains. The property's size and location make it an attractive investment for both short-term and long-term growth. The total building square footage is currently zero, providing a blank canvas for custom development tailored to specific business needs. This presents a rare opportunity to build a property to exact specifications, maximizing return on investment. This prime location in the thriving Port Crossing Commerce Center offers a compelling combination of accessibility, visibility, and growth potential. The property's location in Harris County, Texas, with a zip code of 77571, ensures easy access to a robust workforce and consumer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    La Porte
    County
    Harris
    State
    Texas
    Longitude
    -95.0303
    Latitude
    29.6365

    Comparable in this City

    • Value Estimation by Request

      11Th St

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      0.88 Acres

      700 Highway 146

      Restaurants • 0.88 Acres
      700 Highway 146, La Porte, TX 77571
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      3.77 Acres

      Fairmont Pkwy

      Land • 3.77 Acres
      0 Fairmont Pkwy, La Porte, TX 77571
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      312 Barbours Cut Blvd

      Land
      312 Barbours Cut Blvd, La Porte, TX 77571
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      3.17 Acres

      Spencer Hwy

      Land • 3.17 Acres
      0 Spencer Hwy, La Porte, TX 77571
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    • Value Estimation by Request
      10,800 SF

      Highway 146

      Land • 10,800 SF
      0 Highway 146, La Porte, TX 77571
      View Details

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    La Porte, TX 77571
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    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
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