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

    32804 Hwy 290 Hockley, TX 77447-6643

    • Flex space
    • 20,875 SF
    • 7.64 lot acres
    OFF-MARKET
    Last Sale
    Sep 17, 2024
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-2971802
    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 32804 Hwy 290

    Year built
    1999
    Construction
    METAL FRAME
    Lot size
    7.64 lot acres
    Property size
    20,875 SF
    Property type
    Flex space
    APN
    422580000031
    APU
    422580000031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $825,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $709,000
      Market price range: $417k - $1.08M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $585,000
      Current use
      MEDICAL BUILDING
      $1,375,000
      Change: +135% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,285,000
      Change: +120% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hockley
    County
    Harris
    State
    Texas
    Longitude
    -95.8386
    Latitude
    30.0288
    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
    2023
    $18,761
    $1,730,859
    $1,188,498
    $2,919,357
    -
    $1,730,859
    $1,188,498
    $2,919,357

    Comparable in this City

    • Value Estimation
      $1,405,000
      29,352 SF

      22310 Fm 2920th Rd

      LIGHT INDUSTRIAL • 29,352 SF
      22310 Fm 2920th Rd, Hockley, TX 77447-9394
      View Details
    • Value Estimation
      $660,000
      23,304 SF

      16863 Warren Rnch Rd, Unit 1

      LIGHT INDUSTRIAL • 23,304 SF
      16863 Warren Rnch Rd, Hockley, TX 77447-9169
      View Details
    • Value Estimation
      $610,000
      20,621 SF

      36422 Hempstead Rd

      LIGHT INDUSTRIAL • 20,621 SF
      36422 Hempstead Rd, Hockley, TX 77447-3210
      View Details
    • Value Estimation
      $935,000
      87,203 SF

      36310 Hempstead Rd

      LIGHT INDUSTRIAL • 87,203 SF
      36310 Hempstead Rd, Hockley, TX 77447-3152
      View Details
    • Value Estimation
      $370,000
      10,205 SF

      17555 Roberts Rd

      LIGHT INDUSTRIAL • 10,205 SF
      17555 Roberts Rd, Hockley, TX 77447-7838
      View Details
    • Value Estimation
      $375,000
      13,800 SF

      20810 Fm 2920th Rd

      LIGHT INDUSTRIAL • 13,800 SF
      20810 Fm 2920th Rd, Hockley, TX 77447-6805
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6 SF

      Industrial Space in Northwest Houston

      Industrial space available for lease in Hockley, Texas.
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      View Details
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      18 SF

      Multiple Industrial Buildings For Sale

      Six industrial buildings ranging from approximately 5,500 to 15,590 square feet.
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      82,100 SF

      Kermier Commerce Park: Hockley, TX

      Industrial Manufacturing Facility: 82,100 SF
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      7,500 SF

      Hockley Industrial Property for Sale

      7,500 SF industrial property in Hockley, Texas available for purchase.
      18604 Kermier Rd, Hockley, TX 77447
      View Details
    • Contact for pricing
      7,500 SF

      Hockley Warehouse Space Available

      7,500 sq ft warehouse in Hockley, Texas.
      18612 Kermier Rd, Hockley, TX 77447
      View Details
    • Contact for pricing
      6,000 SF

      Hockley Industrial Property For Sale

      6,000 square foot industrial property in Hockley, Texas.
      18606 Kermier Rd, Hockley, TX 77447
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6 SF

      Industrial Building with Office Space

      Industrial building featuring office space on a 0.402 AC lot.
      18608 Kermier Rd, Hockley, TX 77447
      View Details
    • Contact for pricing

      Kermier Commerce Park Land Lease

      18-Acre Commercial/Industrial Land Parcel
      0 Kermier Rd, Waller, TX 77447
      View Details
    • $11 SF/Yr
      8,850 SF

      Zube Business Park Warehouse For Lease

      Modern 8,850 SF Warehouse in Hockley, TX
      17531 Roberts Rd -, Hockley, TX 77447
      View Details
    • Contact for pricing
      18 SF

      Industrial Buildings Available For Lease

      Seven industrial buildings ranging from approximately 5,500 to 15,590 square feet.
      18602 Kermier Rd, Hockley, TX 77447
      View Details
    • Contact for pricing
      10,000 SF

      Bauer Road Business Park: Prime Space

      Executive Suites & Warehouse Space Available
      18231 Bauer Rd, Hockley, TX 77447
      View Details
    • Contact for pricing
      82,100 SF

      Kermier Commerce Park: Hockley Distribution Space

      High-bay distribution space available in Hockley, TX.
      18638 Kermier Rd, Hockley, TX 77447
      View Details
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    Hockley, TX 77447-6643
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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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