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    Property profile & analytics

    26823 Fm 2978 Rd Magnolia, TX 77354

    • Flex space
    • 85,000 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-2339070
    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

    • Flex space

    Property Details for 26823 Fm 2978 Rd

    Property size
    85,000 SF
    Property type
    Flex space
    Property subtype
    Distribution centers

    Description

    Woodgrove Business Park at 26823 FM 2978 in Magnolia, Texas, offers a prime opportunity for businesses seeking flexible and warehouse space. This multi-building complex totals 85,000 square feet, with six individual buildings situated on a 9.24-acre lot. The property is currently fully vacant and offers multiple tenancy options, with spaces ranging from a minimum of 5,000 contiguous square feet to a maximum of 35,000 contiguous square feet. The buildings are suitable for a variety of uses, including office and industrial applications. Ample parking is available with 105 spaces provided for tenants and their clients. The property is located in Montgomery County, Texas, with easy access to FM 2978, providing convenient transportation links. Individual building lot sizes vary, ranging from 0.62 acres to 3.78 acres. This presents a unique opportunity to acquire a significant amount of space in a well-located business park, ideal for companies needing flexible space options and ample parking. The property's size and layout make it suitable for a variety of businesses, from small startups to larger enterprises. The fully vacant status allows for complete customization to meet specific business needs. The location in Magnolia, Texas offers a blend of suburban tranquility and convenient access to major transportation routes.

    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
    -95.599075
    Latitude
    30.149818

    Comparable in this City

    • $16 SF/Yr
      49,076 SF

      Magnolia Business Park Spaces For Lease

      Modern Offices & Warehouses in Texas
      8259 Fm 1488 Rd, Magnolia, TX 77354
      View Details
    • $1.25 SF/Yr
      40,000 SF

      Magnolia, TX Flex Space for Lease

      Versatile warehouse/flex space, Magnolia, TX.
      9200 Carraway Ln, Magnolia, TX 77354
      View Details
    • $8 SF/Yr
      37,493 SF

      Magnolia Office Warehouse Suites

      Modern suites, ideal for various businesses.
      26232 Fm 2978 Rd, Magnolia, TX 77354
      View Details
    • $13 SF/Yr
      3,540 SF

      Magnolia Warehouse Suites for Lease

      Two suites available, 1540-2000 sq ft
      32914 Tamina Rd, Magnolia, TX 77354
      View Details
    • $21 SF/Yr
      8,838 SF

      Magnolia Office-Warehouse Space

      Modern warehouse/office space in The Woodlands submarket.
      32118 Tamina Rd, Magnolia, TX 77354
      View Details
    • $15 SF/Yr
      15,690 SF

      Magnolia Warehouse Suites

      6 Suites, 1,640-5,981 sq ft
      331 Corporate Wood Dr, Magnolia, TX 77354
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9.24 Acres

      Magnolia Business Park Investment

      85,000 SF Flex & Warehouse Space
      26823 Fm 2978 Rd, Magnolia, TX 77354
      View Details
    • $1,800,000
      10.00 Acres

      Magnolia 10-Acre Unrestricted Land

      Texas gem: Mixed-use development potential.
      8406 Matthews Ln, Magnolia, TX 77354
      View Details
    • Contact for pricing
      125,500 SF

      Magnolia Warehouse Park Investment

      Modern warehouse space, flexible layouts.
      30130 Dobbin-Huffsmith Rd, Magnolia, TX 77354
      View Details
    • Contact for pricing
      85,000 SF

      Planned Development with Flex Space

      85,000 SF planned development offering warehouse, flex, and office spaces.
      26823 Fm 2978 Rd, Magnolia, TX 77354
      View Details
    • $349,000
      1,200 SF

      Versatile Flex Space in Magnolia

      Functional flex space with roll-up door in prime location.
      5432 Fm 1488 Rd, Magnolia, TX 77354
      View Details
    • Contact for pricing
      6,400 SF

      New Construction Flex Space Available

      New construction flex space with office and mezzanine storage.
      33215 Sweetgum Ln, Magnolia, TX 77354
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      49,076 SF

      Magnolia Business Park Spaces For Lease

      Modern Offices & Warehouses in Texas
      8259 Fm 1488 Rd, Magnolia, TX 77354
      View Details
    • $1.25 SF/Yr
      40,000 SF

      Magnolia, TX Flex Space for Lease

      Versatile warehouse/flex space, Magnolia, TX.
      9200 Carraway Ln, Magnolia, TX 77354
      View Details
    • $8 SF/Yr
      37,493 SF

      Magnolia Office Warehouse Suites

      Modern suites, ideal for various businesses.
      26232 Fm 2978 Rd, Magnolia, TX 77354
      View Details
    • $13 SF/Yr
      3,540 SF

      Magnolia Warehouse Suites for Lease

      Two suites available, 1540-2000 sq ft
      32914 Tamina Rd, Magnolia, TX 77354
      View Details
    • $21 SF/Yr
      8,838 SF

      Magnolia Office-Warehouse Space

      Modern warehouse/office space in The Woodlands submarket.
      32118 Tamina Rd, Magnolia, TX 77354
      View Details
    • $15 SF/Yr
      15,690 SF

      Magnolia Warehouse Suites

      6 Suites, 1,640-5,981 sq ft
      331 Corporate Wood Dr, Magnolia, TX 77354
      View Details
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    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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