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Property profile & analytics
OFF-MARKET Estimated value $580,000
Commercial real estate

24779 Fm 1485th Rd New Caney, TX 77357-7642

3,456 SF 7 ac lot Built 1992
Individually Owned 13-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US83-2406805
Property summary
AI-generated overview

This exceptional 7-acre commercial land parcel, located at 24779 FM 1485 in New Caney, Texas (Montgomery County, zip code 77357), presents a compelling investment opportunity. The property, identified by APN 0509-01-00304, is currently generating income from a mobile home park with 20 units spread across this lot and an adjacent 2.45-acre lot. This provides immediate cash flow while allowing for future development plans. The land offers excellent accessibility, with immediate access to Highway 99 and I-69, ensuring convenient transportation. Public utilities are available. The property's strategic location within the rapidly growing New Caney area, near numerous residential developments, makes it highly attractive for developers seeking to capitalize on the region's expanding population and robust economy. Montgomery County, boasting a population exceeding 600,000 in 2023, is experiencing significant growth, fueled by diverse sectors including healthcare, education, manufacturing, and retail. Major employers such as Memorial Hermann, Conroe Independent School District, and H-E-B contribute to the area's economic strength. The area also benefits from highly-regarded school districts (including Conroe ISD), educational institutions (Lone Star College and Sam Houston State University's Woodlands Center), and ample healthcare resources. Recreational opportunities abound, with proximity to Sam Houston National Forest and Lake Conroe. The asking price for this income-producing property is $1,500,000.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1992
Construction FRAME
Total area 3,456 SF
Lot 7 ac (304,920 SF)
Zoning code 5
APN 0509-01-00304
UPID US83-2406805
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$430k
CAP Approach CAP
$550k
Comparable Approach Comparable
$607k
Blend (final) Blend
$580k
Owner & transaction history
Carol A Mills
Carol A Mills
2 recorded transactions
1969
Price N/A
1969
Price N/A
Zoning & alternative use
5 · New Caney, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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