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    Fm 3248 Gregory, TX 78359
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    Fm 3248 Gregory, TX 78359

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

    Current Use by Public Records

    • Land

    Property Details for 0 Fm 3248

    Lot size
    246.00 lot acres
    Property type
    Land

    Description

    This exceptional 246-acre commercial land parcel in Gregory, Texas, presents a unique investment opportunity. Strategically located in San Patricio County, near the bustling Port of Corpus Christi, this property boasts significant frontage on both FM Rd 3284 (0.66 miles or 28,911 feet) and County Rd 106 (0.458 miles). The site is conveniently served by existing water and sewer infrastructure, eliminating costly utility extensions. Zoned and entitled for immediate development, this land is ideal for various commercial uses, particularly light industrial projects. The absence of speculative warehouses in the immediate vicinity underscores the property's potential for a unique and impactful development. Given its location within a rapidly expanding $50 billion growth sector, and its proximity to the Gulf Coast Growth Ventures (GCGV) plant – a joint venture between ExxonMobil and SABIC – this site offers unparalleled access to major industrial players and logistical advantages. The seller is open to considering various transaction structures, including outright sale or land lease, and is also willing to explore build-to-suit options for qualified developers. The property is available for sale in its entirety or as divisible parcels, providing flexibility to accommodate diverse development plans. This is a rare opportunity to acquire a large, well-situated commercial land parcel in a high-growth area with excellent infrastructure and access to major industrial partners.

    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
    -97.2832
    Latitude
    27.9319

    Comparable in this City

    • Value Estimation by Request
      91.68 Acres

      1612 & Crk 3767

      Land • 91.68 Acres
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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
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    • Value Estimation by Request
      844 SF

      514 Gregory Ave

      COMMERCIAL (GENERAL) • 844 SF
      514 Gregory Ave, Gregory, TX 78359
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    • 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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      Vacant Lot in Gregory, Texas

      Vacant land available for sale in Gregory, Texas.
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    • $39,000
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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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    • Contact for pricing

      Industrial Land with Road Frontage

      Industrial land available with frontage on multiple roads.
      Fm 3248, Gregory, TX 78359
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    Similar Nearby for Lease

    • New
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      New Retail Center on Highway

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      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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