Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    24203 State Hwy 249 Tomball, TX 77375-8218
    Back to Search
    Property profile & analytics

    24203 State Hwy 249, Tomball, TX 77375-8218

    View on Map
    • Drug stores
    • 14,432 SF
    • 2.15 lot acres
    Off-Market
    Last Sale Mar 17, 2020
    Property ID
    US82-6101134
    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
    $1,505,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Drug stores

    Property Details for 24203 State Hwy 249

    Year built
    2003
    Construction
    BRICK
    Lot size
    2.15 lot acres
    Property type
    Drug stores
    APN
    1241570010003
    APU
    1241570010003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 17, 2020 — Cs 1991 LLC Spw 5906 LLC Grant Deed · related —
    Jun 8, 2018 — Spw 5906 LLC 5906 Nf Tomball LLC Quit Claim Deed · related —
    Feb 21, 2017 — 5906 Nf Tomball LLC 5906-tomball LP Quit Claim Deed · related $3.6M · * Other Institutional Lenders
    — — 5906 Nf Tomball LLC — Loan Modification · related $3.6M · * Other Institutional Lenders

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,463,000
      Market price range: $548k - $1.59M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,035,000
      Current use
      COMMERCIAL (GENERAL)
      $1,785,000
      Change: +72% Conversion: Easy
      RESTAURANT
      $1,320,000
      Change: +28% Conversion: Easy
      MEDICAL BUILDING
      $1,010,000
      Change: -3% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $925,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tomball
    County
    Harris
    State
    Texas
    Longitude
    -95.6051
    Latitude
    30.0354
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, 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
    2022
    $22,763
    $1,868,980
    $1,378,534
    $3,247,514
    -
    $1,868,980
    $1,378,534
    $3,247,514

    Comparable in this City

    • Value Estimation
      $635,000
      15,110 SF

      28426 State Hwy 249

      DRUG STORE, PHARMACY
      28426 State Hwy 249, Tomball, TX 77375-6426
      View Details
    • Value Estimation
      $1,420,000
      14,022 SF

      815 Main St

      DRUG STORE, PHARMACY
      815 Main St, Tomball, TX 77375-5541
      View Details
    • Value Estimation
      $1,570,000
      16,048 SF

      24424 State Hwy 249

      DRUG STORE, PHARMACY
      24424 State Hwy 249, Tomball, TX 77375-8213
      View Details
    • Value Estimation
      $1,625,000
      15,716 SF

      26288 Kuykendahl Rd

      DRUG STORE, PHARMACY
      26288 Kuykendahl Rd, Tomball, TX 77375-2657
      View Details
    • Value Estimation
      $1,535,000
      15,233 SF

      24048 Kuykendahl Rd

      DRUG STORE, PHARMACY
      24048 Kuykendahl Rd, Tomball, TX 77375-5326
      View Details
    • Value Estimation by Request
      1,800 SF

      320 Main St

      RETAIL STORES (PERSONAL SERVICES)
      320 Main St, Tomball, TX 77375
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,074 SF

      Tomball Showroom with Warehouse Space

      Showroom with warehouse in high-traffic retail corridor, across from H-E-B.
      1404 Main St, Tomball, TX 77375
      View Details
    • Contact for pricing

      Tomball Parkway Commercial Land

      4.52-acre commercial land with frontage on Tomball Parkway.
      Sh 249 / Tomball Pkwy, Tomball, TX 77375
      View Details
    • Contact for pricing
      15,510 SF

      Modern Retail Center Near Woodlands

      Fully leased, high-traffic retail center built in 2022.
      24026 Kuykendahl Rd, Tomball, TX 77375
      View Details
    • Contact for pricing
      7,200 SF

      Tomball Parkway Commercial Property

      7,200 SF building on 2.957 acres with highway frontage.
      24030 Tomball Pkwy, Tomball, TX 77375
      View Details
    • Contact for pricing

      Versatile Property with Income Potential

      Land with residence, repair shop, and parking in Tomball, TX.
      9011-9013 Dowdell Rd, Tomball, TX 77375
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Retail Space with Drive-Thru

      End-cap retail space with drive-thru in high-traffic area.
      25245 Kuykendahl Rd, Tomball, TX 77375
      View Details
    • Contact for pricing
      2,213 SF

      Retail Space in Tomball, TX

      Retail space available for lease in Tomball, Texas.
      1000 W Main St, Tomball, TX 77375
      View Details
    • $234 SF/Yr
      6,000 SF

      Retail Space in Growing Area

      New retail space with convenient access and generous parking.
      11709 Boudreaux Rd, Tomball, TX 77375
      View Details
    • Contact for pricing
      1,820 SF

      Renovated Tomball Building on Main

      Fully renovated building suitable for retail, medical, or office tenants.
      819 E Main St, Tomball, TX 77375
      View Details
    • Contact for pricing

      Tomball Retail Space For Lease

      Retail space available for lease in Tomball, Texas.
      27708 Tomball Pkwy, Tomball, TX 77375
      View Details
    • Contact for pricing

      Retail Space on Tomball Parkway

      Retail center with high visibility on Tomball Parkway.
      29707 Tomball Pkwy, Tomball, TX 77375
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24203 State Hwy 249
    Tomball, TX 77375-8218
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    24203 State Hwy 249, Tomball, TX, 77375
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!