Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    29452 Fm 2978th Rd Magnolia, TX 77354-3032
    Back to Search
    Property profile & analytics

    29452 Fm 2978th Rd, Magnolia, TX 77354-3032

    View on Map
    • Assisted living facilities
    • 1,512 SF
    • 1.00 lot acres
    Off-Market
    Property ID
    US83-2466273
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Assisted living facilities

    Property Details for 29452 Fm 2978th Rd

    Year built
    2010
    Lot size
    1.00 lot acres
    Zone code
    2
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    0078-01-00303
    APU
    780100303

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 3, 2019 — Westmoreland Storage LLC Westmoreland,ronnie D & Donna M Quit Claim Deed · related —
    — — Gary Westmoreland — Deed Of Trust · related $31k · Beneficial Texas INC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Magnolia
    County
    Montgomery
    State
    Texas
    Longitude
    -95.5962
    Latitude
    30.1818
    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
    2024
    $2,131
    $127,250
    $0.00
    $127,250
    -
    $127,250
    $0.00
    $127,250

    Comparable in this City

    • Value Estimation by Request
      3,015 SF

      202 Mapleleaf St

      HOMES (RETIRED, NURSING)
      202 Mapleleaf St, Magnolia, TX 77354-5069
      View Details
    • Value Estimation by Request
      3,788 SF

      8912 Ww Ln

      HOMES (RETIRED, NURSING)
      8912 Ww Ln, Magnolia, TX 77354-2222
      View Details
    • Value Estimation by Request
      3,796 SF

      5406 Rnch Lk Dr

      HOMES (RETIRED, NURSING)
      5406 Rnch Lk Dr, Magnolia, TX 77354-5019
      View Details
    • Value Estimation by Request
      0.74 Acres

      32605 Tamina Rd

      HOMES (RETIRED, NURSING)
      32605 Tamina Rd, Magnolia, TX 77354-2269
      View Details
    • Value Estimation
      $2,145,000
      29,014 SF

      18215 Buddy Riley Blvd

      HOMES (RETIRED, NURSING)
      18215 Buddy Riley Blvd, Magnolia, TX 77354-6737
      View Details
    • Value Estimation by Request
      4,500 SF

      41854 Fm 1774 Rd

      Medical Office Space
      41854 Fm 1774 Rd, Magnolia, TX 77354
      View Details

    Similar Nearby for Sale

    • $1,275,000
      3,802 SF

      Farmhouse with Event Venue Potential

      Farmhouse on 7 acres with event venue and pool.
      38011 Spur 149 Rd, Magnolia, TX 77354
      View Details
    • $1,100,000

      Farmhouse with Event Venue Potential

      Charming farmhouse on almost 7 acres with event venue potential.
      38011 Spur 149 Rd, Magnolia, TX 77354
      View Details
    • Contact for pricing
      4,010 SF

      Equestrian Estate or Wedding Venue

      Exceptional property with arena, barn, main house, and guest house.
      28207 Dobbin Huffsmith Rd, Magnolia, TX 77354
      View Details
    • Contact for pricing

      Unrestricted Acres For Sale

      1.3+ acres of unrestricted land available for purchase.
      30002 Rosebud St, Magnolia, TX 77354
      View Details
    • Contact for pricing

      13.13 Acres on FM 2978

      13.13 acres available on FM 2978 in Magnolia, TX.
      27207 Fm 2978 Rd, Magnolia, TX 77354
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,276 SF

      Medical Building in Woodlands Submarket

      Medical building with available spaces in a high-traffic location.
      10110 Research Forest Dr, Magnolia, TX 77354
      View Details
    • Contact for pricing

      Magnolia Office-Warehouse and Co-working Spaces

      Office-warehouse and co-working spaces available for lease in Magnolia, TX.
      8259 Fm 1488 Rd, Magnolia, TX 77354
      View Details
    • $13 SF/Yr
      6,615 SF

      Magnolia Flex Space: Prime Location

      Modern 6,615 sq ft office/flex space in Magnolia, TX.
      32415 Tamina Rd, Magnolia, TX 77354
      View Details
    • Contact for pricing

      Magnolia Retail Hub Restaurant Opportunity

      Restaurant space with drive-thru in high-traffic Magnolia retail hub.
      13345 Fm 1488 Rd, Magnolia, TX 77354
      View Details
    • Contact for pricing
      1,633 SF

      Flexible Office Warehouse Solutions

      Turnkey office warehouse spaces in a secure, accessible business park.
      331 Corporate Wood Dr, Magnolia, TX 77354
      View Details
    • Contact for pricing
      3,400 SF

      Magnolia Office Space For Rent

      Office space with convenient access and ample parking available for rent.
      5910 Fm 1488 Rd, Magnolia, TX 77354
      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.
    29452 Fm 2978th Rd
    Magnolia, TX 77354-3032
    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
    29452 Fm 2978th Rd, Magnolia, TX, 77354
    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!