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    Property profile & analytics

    2 Heritage Ln Magnolia, TX 77354

    • Commercial real estate
    • 12.90 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-2397630
    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 2 Heritage Ln

    Lot size
    12.90 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 12.9-acre parcel presents a unique investment opportunity in Magnolia, Texas. Located at 2 Heritage Lane within the Heritage Farms Subdivision, this property boasts approximately 941 feet of frontage on the highly trafficked FM 1488. The site benefits from city utilities provided by the City of Magnolia and currently operates under an Agricultural Exemption. Its strategic location within Magnolia's extraterritorial jurisdiction (ETJ) and less than three miles east of downtown Magnolia ensures high visibility and accessibility. Enjoy easy access to a variety of amenities, charming local restaurants, and scenic views, all while being less than an hour's drive from Downtown Houston. Significant road improvements are underway in the area, including the FM 249 extension, widening of FM 1488, and the proposed Magnolia Bypass, promising future growth and increased property value. 2020 TXDOT traffic counts reveal 16,054 vehicles per day (VPD) on FM 1488 west of the site, highlighting the substantial traffic flow. While restrictions apply, this property offers immense potential for various commercial or development ventures. The combination of prime location, substantial frontage, and ongoing infrastructure improvements makes this a compelling investment opportunity in a rapidly growing area. The zip code is 77354, and the property is situated in Montgomery County.

    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
    Magnolia
    County
    Montgomery
    State
    Texas
    Longitude
    -95.6758013
    Latitude
    30.2242843

    Comparable in this City

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    • $985,000
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      Magnolia Commercial Land - Prime Location

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      6 SF

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      6.64 acres at signalized intersection near Woodlands submarket.
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      12 SF

      12.9 Acres on FM 1488

      12.9 acre parcel in Magnolia ETJ with high traffic.
      2 Heritage Ln, Magnolia, TX 77354
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    • $980,000

      Unrestricted Lot in Magnolia

      Spacious lot suitable for personal or commercial use.
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    • $3,000,000

      6.7 Acres on FM 2978

      Prime development opportunity with frontage on FM 2978.
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    Similar Nearby for Sale

    • $4,799,876
      73.46 Acres

      Magnolia, TX Land - 73 Acres

      Prime 73-acre tract, ideal for development.
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      View Details
    • $985,000
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      Magnolia Commercial Land - Prime Location

      0.87-acre pad site, high-traffic area
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      6 SF

      Land For Sale in Magnolia

      6.64 acres at signalized intersection near Woodlands submarket.
      29903 Farm To Market Rd, Magnolia, TX 77354
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      12 SF

      12.9 Acres on FM 1488

      12.9 acre parcel in Magnolia ETJ with high traffic.
      2 Heritage Ln, Magnolia, TX 77354
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    • $980,000

      Unrestricted Lot in Magnolia

      Spacious lot suitable for personal or commercial use.
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    • $3,000,000

      6.7 Acres on FM 2978

      Prime development opportunity with frontage on FM 2978.
      29933 Hardin Store Rd, Magnolia, TX 77354
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    Similar Nearby for Lease

    • $8,000 /Mo

      Land for Rent

      Land available for rent in Magnolia, Texas.
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      Magnolia Office Land Opportunity

      Prime 2-acre commercial lot, executive office zoning.
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    • $15 SF/Yr
      15,690 SF

      Magnolia Warehouse Suites

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      Magnolia Commercial Land - 0.88 Acres

      Prime Magnolia land, lease or buy. High visibility.
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      Prime Commercial Land For Lease

      1.5-acre tract ideal for build-to-suit opportunities.
      29214 Fm 2978 Rd, Magnolia, TX 77354
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      85,000 SF

      Magnolia Flex & Warehouse Space

      85,000 SF Available in 6 Buildings
      26823 Fm 2978 Rd, Magnolia, TX 77354
      View Details
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    2 Heritage Ln
    Magnolia, TX 77354
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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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