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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2306 Leary Ln Victoria, TX 77901-2840

    • Office buildings
    • 28,800 SF
    • 3.68 lot acres
    OFF-MARKET
    Last Sale
    Jul 15, 2021
    Value Estimations
    $4,085,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-8268319
    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

    • Texas Department of Family and Protective Services, Victoria / State Government Office / Social Services Organization
    • Texas Health & Human Services / State Government Office
    • Texas Lottery Claim Center / Lottery Retailer

    Property Details for 2306 Leary Ln

    Year built
    2011
    Construction
    FRAME
    Lot size
    3.68 lot acres
    Property size
    28,800 SF
    Property type
    Office buildings
    APN
    55821-001-001R0
    APU
    55821001001R0

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,498,000
      Market price range: $1.14M - $4.10M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,640,000
      Current use
      RESTAURANT
      $3,570,000
      Change: +35% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $3,435,000
      Change: +30% Conversion: Easy
      RETAIL STORES
      $2,835,000
      Change: +7% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,720,000
      Change: +3% Conversion: Difficult
      MEDICAL BUILDING
      $2,500,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Victoria
    County
    Victoria
    State
    Texas
    Longitude
    -96.9842
    Latitude
    28.8387
    CBSA code
    47020
    CBSA name
    VICTORIA, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $40,806
    $51,520
    $2,080,790
    $2,132,310
    -
    $51,520
    $2,080,790
    $2,132,310

    Comparable in this City

    • Value Estimation by Request
      800 SF

      104 Laurent St

      OFFICE BUILDING • 800 SF
      104 Laurent St, Victoria, TX 77901-7003
      View Details
    • Value Estimation by Request
      3,840 SF

      303 Mantz St

      PROFESSIONAL BUILDING • 3,840 SF
      303 Mantz St, Victoria, TX 77901-6811
      View Details
    • Value Estimation by Request
      2,240 SF

      408 Moody St

      PROFESSIONAL BUILDING • 2,240 SF
      408 Moody St, Victoria, TX 77901-6434
      View Details
    • Value Estimation
      $2,335,000
      15,407 SF

      205 Brg St

      OFFICE BUILDING • 15,407 SF
      205 Brg St, Victoria, TX 77901-6514
      View Details
    • Value Estimation by Request
      2,112 SF

      301 Goodwin Ave

      PROFESSIONAL BUILDING • 2,112 SF
      301 Goodwin Ave, Victoria, TX 77901-6605
      View Details
    • Value Estimation by Request
      1,120 SF

      3509 Houston Hwy

      OFFICE BUILDING • 1,120 SF
      3509 Houston Hwy, Victoria, TX 77901-4607
      View Details

    Similar Nearby for Sale

    • $383,000

      Two-Story Office Building For Sale

      Two-story office building in central Victoria location for sale.
      708 E Goodwin Ave, Victoria, TX 77901
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    • $279,000

      Historic Building in Victoria's District

      Impressive historic building with prime location and owner financing.
      702 E Convent St, Victoria, TX 77901
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    • $499,900
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      Versatile Office Building in Victoria

      Adaptable commercial space with multiple suites and ample parking.
      2403 N Laurent St, Victoria, TX 77901
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    • $3,995,000
      111,856 SF

      Victoria Tower Office Building

      Six-story office building on 13.9 acres in Victoria, Texas.
      1908 N Laurent St, Victoria, TX 77901
      View Details
    • $495,000
      0.78 Acres

      Commercial Property Near Houston Highway

      Three parcels totaling 0.78 acres near Houston Highway.
      3505 Houston Hwy, Victoria, TX 77901
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    • New
      $650,000
      7,734 SF

      Downtown Victoria Commercial Building For Sale

      Spacious 7,700+ SF commercial building in downtown Victoria, TX.
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    Similar Nearby for Lease

    • Contact for pricing
      111,860 SF

      Victoria Commercial District Development Opportunity

      Prime location with excess land for development or reuse.
      1908 N Laurent St, Victoria, TX 77901
      View Details
    • Contact for pricing
      13,600 SF

      Victoria Executive Office/Warehouse

      13,600 SF, 2.25 Acres, Prime Location
      206 Anaqua Ave, Victoria, TX 77901
      View Details
    • $3 SF/Yr
      8,016 SF

      Downtown Victoria Office Space

      Prime Victoria location, 8,016 sq ft, furnished.
      205-1/2 Constitution St, Victoria, TX 77901
      View Details
    • $1,158 /Mo

      Downtown Victoria Office Space Available

      772 sqft office space in historic downtown Victoria.
      121 S Main 101, Victoria, TX 77901
      View Details
    • $3,738 /Mo
      1,495 SF

      Victoria Retail or Office Space

      1495 SF retail or office space available for rent.
      3202 N Navarro St, Victoria, TX 77901
      View Details
    • $1,212 /Mo
      70,000 SF

      Downtown Victoria Office Suite

      821 SF office suite in remodeled historic building.
      311 E Constitution St, Victoria, TX 77901
      View Details
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    2306 Leary Ln
    Victoria, TX 77901-2840
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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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