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    1609 N Hill St Three Rivers, TX 78071
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    1609 N Hill St Three Rivers, TX 78071

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    • Apartment buildings
    For Sale
    $2,195,000
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    Furnished Corporate Units Near Highway For Sale
    $2,195,000

    Furnished Corporate Units Near Highway

    28 furnished units near Highway 281, ideal for corporate housing.

    1609 N Hill St, Three Rivers, TX 78071
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    Property ID
    US82-7799024
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Eagle Ford Apartments / Vacation Rental

    Property Details for 1609 N Hill St

    Year built
    2013
    Property type
    Apartment buildings

    Description

    28 fully furnished corporate units finished in 2013. Granite Countertops, Solid Wood doors, No Carpet, Laundry Room. Asset is off Highway 281 and 3 miles from the 281 & I-37 Intersection and 1.5 miles from the Valero Refinery. Rig counts have been going up in the Eagle Ford Shale as oil prices have increased. This is an opportunity to own a multifamily asset in an area with a severe shortage of housing for oil workers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Three Rivers
    County
    Live Oak
    State
    Texas
    Longitude
    -98.175964
    Latitude
    28.475476

    Comparable in this City

    • $199,500
      756 SF

      Three Rivers Duplex For Sale

      Well-maintained duplex with two 3-bedroom units in Three Rivers.
      310 S Hermann Ave, Three Rivers, TX 78071
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    • $135,000
      10.01 Acres

      Unrestricted Land in Three Rivers

      10.01 acres with frontage on FM 1358.
      318 Wj Pearce, Three Rivers, TX 78071
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      Land Near US 281

      Land located near US 281 and Interstate 37.
      US-281 And I-37, Three Rivers, TX 78071
      View Details
    • Contact for pricing
      16,750 SF

      Office and Warehouse on Acreage

      16,750 SF office and warehouse space on 17.71 acres.
      3248 N Hwy Frontage Rd, Three Rivers, TX 78071
      View Details
    • $3,700,000
      34.12 Acres

      Prime Commercial Land I-37 Frontage

      34+/- acres at I-37 & SH-72, Three Rivers, TX.
      6284 State Highway 281, Three Rivers, TX 78071
      View Details
    • Contact for pricing
      0.50 Acres

      Half-Acre Lot Near Choke Canyon

      0.50-acre lot near Choke Canyon Lake and State Park.
      Deer Run Trce, Three Rivers, TX 78071
      View Details

    Similar Nearby for Sale

    • $199,500
      756 SF

      Three Rivers Duplex For Sale

      Well-maintained duplex with two 3-bedroom units in Three Rivers.
      310 S Hermann Ave, Three Rivers, TX 78071
      View Details
    • $170,500
      11.00 Acres

      11 Acres Land in Three Rivers

      11 acres of land between Three Rivers and Kenedy, TX.
      Fm 2049, Three Rivers, TX 78071
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    • Contact for pricing

      RV Park Investment Opportunity

      Turnkey RV park with diverse revenue streams and strategic location.
      2293 Highway 37 Access, Three Rivers, TX 78071
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    • $50,000
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      Land on I-37 Access Road

      Highly visible 0.5-acre lot with structure in Oakville, TX.
      37 Access, Three Rivers, TX 78071
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    • $282,850
      5,250 SF

      Commercial Building in Three Rivers

      Established commercial building with 5,250 SF on 0.40 acres.
      222 W Thornton St W, Three Rivers, TX 78071
      View Details
    • $135,000
      10.01 Acres

      Unrestricted Land in Three Rivers

      10.01 acres with frontage on FM 1358.
      318 Wj Pearce, Three Rivers, TX 78071
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      9 Acre Property For Lease

      9 acre property for lease off Highway 37 feeder.
      3646 Highway 37 N, Three Rivers, TX 78071
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      600 SF

      600 Acres Industrial Logistics Site

      600 acres industrial site with infrastructure and logistics.
      3077 Highway 37 S, Three Rivers, TX 78071
      View Details
    View Listing
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    Three Rivers, TX 78071
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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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