Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    406 E Phillips St Conroe, TX 77301
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    406 E Phillips St Conroe, TX 77301

    View on Map
    • Commercial land
    For Sale
    $595,000
    View Listing →
    Corner Lot in Conroe, TX For Sale
    $595,000

    Corner Lot in Conroe, TX

    Corner lot with city utilities, close to downtown Conroe.

    406 E Phillips St, Conroe, TX 77301
    View Listing
    Property ID
    US83-2367954
    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

    • Commercial land

    Property Details for 406 E Phillips St

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Looking for the perfect location for your next real estate venture? Look no further than this amazing corner lot on a busy street with high traffic count! Here you have city utilities already in place saving time and money on infrastructure costs. Close proximity to downtown Conroe with easy access to I-45 and Lake Conroe offering maximum exposure! 151’ Frontage on E. Phillips St. and 117’ Frontage on N. 4th St.

    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
    Conroe
    County
    Montgomery
    State
    Texas
    Longitude
    -95.460162
    Latitude
    30.313483

    Comparable in this City

    • Contact for pricing

      Conroe Land for Commercial Use

      3.61 AC unimproved land site in Conroe, Texas.
      1401 N Loop 336 E, Conroe, TX 77301
      View Details
    • Contact for pricing

      Land with Interstate 45 Frontage

      Commercial land with high visibility and multiple access points.
      1600 I-45, Conroe, TX 77301
      View Details
    • $2,400,588

      Commercial Land on Loop 336

      Highly visible commercial land for sale in Conroe, Texas.
      2947 N Loop 336 East, Conroe, TX 77301
      View Details
    • $695,000

      Unrestricted Land in Growing Area

      4 acres of unrestricted land with commercial and investment potential.
      2940 Avenue, Conroe, TX 77301
      View Details
    • $695,000

      Conroe Unrestricted Acres For Sale

      Four acres of unrestricted land in a rapidly growing area.
      2940 Avenue M Ext, Conroe, TX 77301
      View Details
    • $3,920,400
      15.00 Acres

      Unrestricted Wooded Acres for Development

      15 acres suitable for residential or commercial development in Conroe.
      3300 South Loop 336 East, Conroe, TX 77301
      View Details

    Similar Nearby for Sale

    • $1,999,999
      19.35 Acres

      Unrestricted Land in Conroe, Texas

      19.35 acres suitable for self-storage or industrial development.
      North Porter Rd, Conroe, TX 77301
      View Details
    • $85,000

      Conroe Corner Lot Redevelopment Opportunity

      Corner lot in Conroe, TX, suitable for redevelopment.
      1251 Beach Airport Rd, Conroe, TX 77301
      View Details
    • Contact for pricing
      585,882 SF

      Conroe Development Opportunity on FM 1314

      Development or redevelopment opportunity in rapidly expanding Conroe, Texas.
      Fm 1314 Rd, Conroe, TX 77301
      View Details
    • Contact for pricing

      Conroe Land with Loop Frontage

      Land with frontage on South Loop 336 and Ed Kharbat Dr.
      Ed Kharbat Dr, Conroe, TX 77301
      View Details
    • Contact for pricing

      Conroe Land with Road Frontage

      0.98 acre commercial land with city utilities available.
      Airport Rd, Conroe, TX 77301
      View Details
    • $700,000

      6.046 Acres Commercial Land

      6.046 acres with 295 ft frontage in Conroe, TX.
      220 Porter Rd, Conroe, TX 77301
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Retail Hub Land

      Located at a regional retail hub in North Conroe.
      I-45 & Fm 3083, Conroe, TX 77301
      View Details
    • Contact for pricing

      Unrestricted Land at Signalized Intersection

      Approximately 0.91 acres of unrestricted land for lease.
      2420 E Davis St, Conroe, TX 77301
      View Details
    • Contact for pricing

      Commercial/Industrial Ground Lease Opportunity

      0.50-acre tract for ground lease in high-traffic Conroe corridor.
      2985 E Davis St, Conroe, TX 77301
      View Details
    • Contact for pricing

      Unrestricted Land for Lease

      Approximately 0.5 acre of unrestricted land for lease.
      3009 E Davis St, Conroe, TX 77301
      View Details
    • Contact for pricing
      9,991 SF

      Land Available For Lease

      10.13 acres of land with outside storage available.
      501 Hickerson St, Conroe, TX 77301
      View Details
    • Contact for pricing

      Conroe Warehouse with Office Space

      4,500 SF warehouse with 1,500 SF office in Conroe.
      1998-2008 Airport Rd, Conroe, TX 77301
      View Details
    View Listing
    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.
    406 E Phillips St
    Conroe, TX 77301
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!