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    1612 & Crk 3767 Gregory, TX 78359
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    1612 & Crk 3767 Gregory, TX 78359

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    • Land
    • 91.68 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1612 & Crk 3767

    Lot size
    91.68 lot acres
    Property type
    Land

    Description

    This exceptional 91.68-acre commercial land parcel presents a unique investment opportunity in Portland, Texas. Strategically located near the intersection of CR 1612 and CR 3767, this property boasts 1,201 feet of frontage on CR 1612, directly across from the expansive 1,400-acre ExxonMobil project. Its convenient location offers easy access to Portland's commercial center, schools, and major highways including Hwy-181, Hwy-35, and Hwy-361. Currently used for agriculture, this cleared and leveled rectangular tract (excluding an access easement to CR 3767) is ideally suited for residential development. The property is zoned for commercial use (Zoning 2). Portland, situated in San Patricio County, is experiencing significant growth, fueled by the presence of major industrial plants and a burgeoning population (estimated at 19,453) within the Corpus Christi Metropolitan Statistical Area. The nearby town of Gregory has an estimated population of 1,740. This prime location offers unparalleled potential for investors seeking to capitalize on the region's dynamic economic expansion. The asking price for this remarkable property is $2,500,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Gregory
    County
    San Patricio
    State
    Texas
    Longitude
    -97.325
    Latitude
    27.9185

    Comparable in this City

    • Value Estimation by Request
      246.00 Acres

      Fm 3248

      Land • 246.00 Acres
      0 Fm 3248, Gregory, TX 78359
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    • Value Estimation by Request
      5.51 Acres

      181 & Sunset Cor Hwy

      Land • 5.51 Acres
      181 & Sunset Cor Hwy, Gregory, TX 78359
      View Details
    • Value Estimation by Request
      844 SF

      514 Gregory Ave

      COMMERCIAL (GENERAL) • 844 SF
      514 Gregory Ave, Gregory, TX 78359
      View Details
    • Value Estimation by Request
      3,840 SF

      202 Hwy 181

      COMMERCIAL (GENERAL) • 3,840 SF
      202 Hwy 181, Gregory, TX 78359
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    • Value Estimation by Request
      1,800 SF

      205 35th W

      COMMERCIAL (GENERAL) • 1,800 SF
      205 35th W, Gregory, TX 78359
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    • Value Estimation by Request
      2,880 SF

      4687 Hwy 35

      COMMERCIAL (GENERAL) • 2,880 SF
      4687 Hwy 35, Gregory, TX 78359
      View Details

    Similar Nearby for Sale

    • $502,024
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      Approximately 12.55 acres of land within Portland city limits.
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      Vacant Lot in Gregory, Texas

      Vacant land available for sale in Gregory, Texas.
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    • $75,900
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      Corner Lot in Gregory, TX

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      Land available in established Gregory community, buyer to verify land use.
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    • $75,900
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      Corner Lot in Gregory, TX

      Large corner lot suitable for residential or commercial development.
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      Industrial Land with Road Frontage

      Industrial land available with frontage on multiple roads.
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    Similar Nearby for Lease

    • New
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      New Retail Center on Highway

      New shopping center with spaces for lease near HEB.
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    • New
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      Office Space in Gregory, TX

      Tidy office space suitable for office or retail use.
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      View Details
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    Gregory, TX 78359
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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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