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

    2948 Gulfway Dr Port Arthur, TX 77642-5060

    • Outlet malls
    • 28,347 SF
    • 2.32 lot acres
    OFF-MARKET
    Value Estimations
    $1,285,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2439749
    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

    • Pecan Apartments / Apartment Building
    • Parker's Building Supply / Electrical Supply Store / Hardware Store

    Property Details for 2948 Gulfway Dr

    Year built
    1973
    Lot size
    2.32 lot acres
    Property size
    28,347 SF
    Property type
    Outlet malls
    APN
    003000-000-035300-00000
    APU
    300000003530000000

    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
    Port Arthur
    County
    Jefferson
    State
    Texas
    Longitude
    -93.9276
    Latitude
    29.8993
    CBSA code
    13140
    CBSA name
    BEAUMONT-PORT ARTHUR, 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
    $12,898
    $30,933
    $410,620
    $441,553
    -
    $30,933
    $410,620
    $441,553

    Comparable in this City

    • Value Estimation by Request
      1,160 SF

      3538 Gulfway Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 1,160 SF
      3538 Gulfway Dr, Port Arthur, TX 77642-3672
      View Details
    • Value Estimation
      $640,000
      10,125 SF

      3501 Regional Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 10,125 SF
      3501 Regional Dr, Port Arthur, TX 77642-8006
      View Details
    • Value Estimation
      $1,050,000
      6,921 SF

      4601 Gulfway Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 6,921 SF
      4601 Gulfway Dr, Port Arthur, TX 77642-1717
      View Details
    • Value Estimation
      $8,585,000
      628,811 SF

      3100 Hwy 365

      MINI-MALL • 628,811 SF
      3100 Hwy 365, Port Arthur, TX 77642-7724
      View Details
    • Value Estimation
      $1,015,000
      42,472 SF

      3100 Hwy 365

      MINI-MALL • 42,472 SF
      3100 Hwy 365, Port Arthur, TX 77642-7724
      View Details
    • Value Estimation
      $825,000
      28,440 SF

      4901 Gulfway Dr

      MINI-MALL • 28,440 SF
      4901 Gulfway Dr, Port Arthur, TX 77642-1723
      View Details

    Similar Nearby for Sale

    • $267,000
      1,558 SF

      Retail/Office Space in Port Arthur

      Commercial retail/office space leased to a national tenant.
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    • $225,000

      Versatile Commercial Property on Gulfway

      Commercial property with high visibility, ideal for retail or office.
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    • $199,900
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      Versatile Commercial Space, High Traffic Area
      2125 Jefferson Dr, Port Arthur, TX 77642
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    • $1,900,000
      3,111 SF

      Port Arthur C-Store & Gas Station

      High-traffic retail property, excellent visibility.
      5266 Gulfway Dr, Port Arthur, TX 77642
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    • Contact for pricing
      0.70 Acres

      Prime Port Arthur Commercial Land

      0.69 Acres, High Traffic Area
      3810 Fm 365 Rd, Port Arthur, TX 77642
      View Details
    • $1,400,000
      8.07 Acres

      Prime Port Arthur Commercial Land

      8 Acres, High Visibility, Retail Zoning
      5801 Twin City Hwy, Port Arthur, TX 77642
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      2,500 SF

      Gulfway Drive Office Suite A

      Prime Port Arthur Office Space: 2,500 SF
      5126 Gulfway Dr, Port Arthur, TX 77642
      View Details
    • $12 SF/Yr
      1,170 SF

      Gulfway Drive Executive Office Suite

      Prime Port Arthur Office Space: 1,170 SF Available
      5126 Gulfway Dr, Port Arthur, TX 77642
      View Details
    • $1.60 SF/Yr
      7,400 SF

      Retail Space in Port Arthur

      7400 SF retail space available for lease.
      3300 Jimmy Johnson Blvd, Port Arthur, TX 77642
      View Details
    • Contact for pricing

      Prime Commercial Land Available

      0.69 acre commercial land near major retailers and hospital.
      8700 9Th Ave, Port Arthur, TX 77642
      View Details
    • $0.50 SF/Yr
      2,511 SF

      Office Space in Business Center

      2,511 SF office space in a well-established business center.
      3915 Twin City Hwy, Port Arthur, TX 77642
      View Details
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    Port Arthur, TX 77642-5060
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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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