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    Property profile & analytics

    12902 Schmidt Rd Waller, TX 77484

    • Commercial real estate
    • 42.20 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-2918068
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 12902 Schmidt Rd

    Lot size
    42.20 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 42.2-acre commercial land parcel in Waller County, Texas, presents a unique investment opportunity. Located at 12902 Schmidt Rd, Waller, TX 77484, this property boasts a substantial lot size of 1,838,320 square feet, priced at $583 per square foot. The land is currently ag-exempt, resulting in low property taxes. The property includes a 30' x 80' workshop featuring a concrete floor and electricity, providing ample space for various uses. Fully fenced, cross-fenced, and gated, this property offers both privacy and security. Its convenient location offers the tranquility of country living while remaining close to downtown Waller and just 8 miles from Hwy 290. The property's size and features make it ideal for a variety of commercial ventures, including a potential horse ranch or cattle operation. The existing workshop adds significant value, and the low taxes further enhance the investment potential. This is a rare opportunity to acquire a large, well-maintained commercial tract in a desirable location. The asking price is $1,050,500. This property is zoned for Waller ISD.

    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
    Waller
    County
    Waller
    State
    Texas
    Longitude
    -96.0217914
    Latitude
    29.9883164

    Comparable in this City

    • $2,100,000
      13.78 Acres

      Prime Waller County Land

      13.78 Acres, divisible, high visibility.
      0 Kermier Rd, Waller, TX 77484
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    • Contact for pricing
      26.00 Acres

      Waller County Commercial Land - 26 Acres

      Prime 26-acre tract, ideal commercial development.
      16923 Fm 362 Rd, Waller, TX 77484
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    • $1,650,000

      Prime Waller County Land Investment

      27 Acres, Rodeo Arena, Hwy 1488 Frontage
      30628 Fm 1488 Rd, Waller, TX 77484
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    • $1,472,341

      Unrestricted Land on Reids Prairie

      Undeveloped land with frontage on Reids Prairie Road.
      Reids Prairie Rd, Waller, TX 77484
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      38 Acre Development Opportunity Waller

      Development opportunity in Waller, TX, suitable for residential, industrial, retail.
      17333 Fm 362 Rd, Waller, TX 77484
      View Details
    • $960,882

      Unrestricted Acreage with Arena

      24.64 acres with arena, ponds, and ag exemption.
      24594 Fm 362 Rd, Waller, TX 77484
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      26.00 Acres

      Waller County Commercial Land - 26 Acres

      Prime 26-acre tract, ideal commercial development.
      16923 Fm 362 Rd, Waller, TX 77484
      View Details
    • $1,650,000

      Prime Waller County Land Investment

      27 Acres, Rodeo Arena, Hwy 1488 Frontage
      30628 Fm 1488 Rd, Waller, TX 77484
      View Details
    • $2,100,000
      13.78 Acres

      Prime Waller County Land

      13.78 Acres, divisible, high visibility.
      0 Kermier Rd, Waller, TX 77484
      View Details
    • $1,883,098

      Unrestricted Acreage in Growth Corridor

      14.41 acres in Waller, TX, ideal for commercial use.
      Binford Rd Rd, Waller, TX 77484
      View Details
    • $5,989,500

      25 Acres in Binford Park

      Divisible land in Binford Business Park, Waller, TX.
      25 Acre+/- Binford Park Rd, Waller, TX 77484
      View Details
    • $349,000

      5-Acre Waller County Land Parcel

      5-acre parcel in Waller County ready for development.
      25660 Crocket Rd, Waller, TX 77484
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    Similar Nearby for Lease

    • $0.95 SF/Yr
      6,000 SF

      Waller Warehouse Space Available

      6,000 SF warehouse space for lease in Waller, TX.
      20223 Binford Rd, Waller, TX 77484
      View Details
    • $1.15 SF/Yr
      477 SF

      Office Space For Rent

      Office space with open floor plan available for lease.
      2313 Main St, Waller, TX 77484
      View Details
    • $809 /Mo

      Waller Apartment For Rent

      Apartment available for rent in Waller, Texas.
      3025 Waller St, Waller, TX 77484
      View Details
    • $1.00 SF/Yr
      4,087 SF

      Versatile Warehouse Space Available

      Open warehouse space with flexible layout and convenient features.
      2403 Washington St, Waller, TX 77484
      View Details
    • $1.70 SF/Yr
      5,492 SF

      Versatile Corner Suite Near Highway

      Adaptable suite near Business Hwy 290, suitable for diverse uses.
      40190 Highway 290 Business, Waller, TX 77484
      View Details
    • $2.00 SF/Yr
      5,709 SF

      New Retail Space Available

      Premium retail suite with open layout in high-traffic area.
      2406 Main St, Waller, TX 77484
      View Details
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    12902 Schmidt Rd
    Waller, TX 77484
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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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