Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    508 S Washington Ave Cleveland, TX 77327
    Back to Search
    Property profile & analytics

    508 S Washington Ave Cleveland, TX 77327

    View on Map
    • Commercial land
    For Sale
    View Listing →
    Pad Site Near High-Performing QSRs For Sale
    Contact for pricing
    0.56 Acres

    Pad Site Near High-Performing QSRs

    0.56 acre pad site available near H-E-B and railway.

    508 S Washington Ave, Cleveland, TX 77327
    View Listing
    Property ID
    US82-0365297
    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 508 S Washington Ave

    Property type
    Commercial land
    Property subtype
    Retail properties & Spaces

    Description

    • ±0.56 acre Pad Site Available for Ground Lease or Build to Suit- contact harrison.mohn@ bcscapitalgroup.com • H-E-B located ±0.1 miles south of Site. • Adjacent to top-performing QSRs. • Sonic, Jack in the Box, and Pizza Hut are all top 5-8% stores. QSR Sales Volumes: • Sonic- 507 S Washington Ave, Cleveland, TX 77327 ($3.1M) • Jack-in-the-Box- 419 S Washington Ave, Cleveland, TX 77327 ($2M) • Pizza Hut- 502 S Washington Ave, Cleveland, TX 77327 ($2M) • BNSF Railway is constructing a 1,200 acre facility which is expected. to be complete by the end of 2023. • Excellent visibility from Washington Ave with exposure to 20,000+ vehicles per day.

    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
    Cleveland
    County
    Liberty
    State
    Texas
    Longitude
    -95.086483
    Latitude
    30.347422

    Comparable in this City

    • $269,000
      4,927 SF

      Versatile Facility with Event Potential

      Adaptable 5,000 sq ft facility suitable for various purposes.
      301 S Fenner Ave, Cleveland, TX 77327
      View Details
    • Contact for pricing
      7,500 SF

      New Chevron Gas Station Investment

      New gas station with diversified income streams in growing area.
      7940 Plum Grove Rd, Cleveland, TX 77327
      View Details
    • $140,000
      0.51 Acres

      Cleveland Land Parcel For Sale

      0.51-acre parcel suitable for residential or commercial use.
      279 Rd 5513, Cleveland, TX 77327
      View Details
    • Contact for pricing

      10.73 Acres on Hwy 105

      10.73 acres available on Hwy 105/SH 321 in Cleveland, TX.
      321 & Charles Barker, Cleveland, TX 77327
      View Details

    Similar Nearby for Sale

    • $269,000
      4,927 SF

      Versatile Facility with Event Potential

      Adaptable 5,000 sq ft facility suitable for various purposes.
      301 S Fenner Ave, Cleveland, TX 77327
      View Details
    • Contact for pricing
      7,500 SF

      New Chevron Gas Station Investment

      New gas station with diversified income streams in growing area.
      7940 Plum Grove Rd, Cleveland, TX 77327
      View Details
    • $140,000
      0.51 Acres

      Cleveland Land Parcel For Sale

      0.51-acre parcel suitable for residential or commercial use.
      279 Rd 5513, Cleveland, TX 77327
      View Details
    • Contact for pricing

      10.73 Acres on Hwy 105

      10.73 acres available on Hwy 105/SH 321 in Cleveland, TX.
      321 & Charles Barker, Cleveland, TX 77327
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land For Lease

      Commercial land available for lease in Cleveland, Texas.
      122 South Washington Ave, Cleveland, TX 77327
      View Details
    • $2,500 /Mo
      108,900 SF

      Highway 105 Land Lease

      2.5 acre land lease on Highway 105.
      Highway 105, Cleveland, TX 77327
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, approximately 1,500 square feet.
      2403 East Houston St, Cleveland, TX 77327
      View Details
    • Contact for pricing

      New Retail Space Available

      New construction retail space available for lease.
      705 E Houston St, Cleveland, TX 77327
      View Details
    • Contact for pricing
      4,500 SF

      Freestanding Building with Bay Doors

      4,500 SF building with three bay doors for lease.
      1009 Highway 59 N, Cleveland, TX 77327
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Legends Marketplace

      Retail space available for rent in Cleveland's Legends Marketplace.
      1003 E Houston St, Cleveland, TX 77327
      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.
    508 S Washington Ave
    Cleveland, TX 77327
    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
    508 S Washington Ave, Cleveland, TX, 77327
    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!