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

    718 College Ave Troy, TX 76579

    • Commercial real estate
    • 0.42 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1603967
    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

    • Commercial real estate

    Property Details for 718 College Ave

    Lot size
    0.42 lot acres
    Property type
    Commercial real estate

    Description

    This mixed-use property in Troy, Texas, presents a compelling investment opportunity. Priced at $120,000, this 0.42-acre lot features a duplex with two tenant-occupied units, generating immediate cash flow through month-to-month leases. Unit A boasts 3 bedrooms and 2 bathrooms, while Unit B offers 2 bedrooms and 1 bathroom. Both units are equipped with modern conveniences including dishwashers, vent hood stoves, ample counter space, and ceiling fans. Bathrooms include shower/tub combos and generous storage. A detached 2-car garage provides additional parking and storage, a highly desirable amenity for renters. The property also includes a covered patio and a chain-link fence for added security and privacy. A unique buyer protection plan offers a 12-month buyback guarantee, providing peace of mind for the purchaser. Additional incentives for qualified buyers may include a 1% interest rate buy-down, assistance with selling their existing home, a free one-year home warranty, and the use of a moving truck. This property offers a blend of immediate return and long-term potential, making it an attractive investment in the thriving Troy market. The address is 718 S College Avenue, Troy, TX 76579.

    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
    Troy
    County
    48027
    State
    Texas
    Longitude
    -97.286868
    Latitude
    31.2164375

    Comparable in this City

    • $175,000
      0.79 Acres

      Prime Troy Mixed-Use Lot

      .79-acre lot, ideal downtown location.
      1111 Main St, Troy, TX 76579
      View Details
    • $2,135,746
      4.90 Acres

      Troy Commercial Land Assemblage

      4.9 Acres, Prime Location, High Visibility
      114 Church Ave, Troy, TX 76579
      View Details
    • $250,000
      13.82 Acres

      Unrestricted Land with Creek, Troy

      13.821 acres of unrestricted land featuring a creek.
      Crk 461, Troy, TX 76579
      View Details
    • $1,186,720
      59.36 Acres

      Rare 59-Acre Development Tract

      Exceptional investment opportunity in a rapidly growing market near schools.
      Old Troy Rd, Troy, TX 76579
      View Details
    • $82,500
      0.62 Acres

      Residential Land in Troy, TX

      Residential land in River Oaks subdivision, Troy ISD.
      14169 Driftwood Cir, Troy, TX 76579
      View Details
    • $3,164,700
      57.54 Acres

      Unrestricted Acreage in Troy, Texas

      57+/- acres, unrestricted and ag-exempt, prime for development.
      99999 E Main St, Troy, TX 76579
      View Details

    Similar Nearby for Sale

    • $175,000
      0.79 Acres

      Prime Troy Mixed-Use Lot

      .79-acre lot, ideal downtown location.
      1111 Main St, Troy, TX 76579
      View Details
    • $2,135,746
      4.90 Acres

      Troy Commercial Land Assemblage

      4.9 Acres, Prime Location, High Visibility
      114 Church Ave, Troy, TX 76579
      View Details
    • $250,000
      13.82 Acres

      Unrestricted Land with Creek, Troy

      13.821 acres of unrestricted land featuring a creek.
      Crk 461, Troy, TX 76579
      View Details
    • $1,186,720
      59.36 Acres

      Rare 59-Acre Development Tract

      Exceptional investment opportunity in a rapidly growing market near schools.
      Old Troy Rd, Troy, TX 76579
      View Details
    • $82,500
      0.62 Acres

      Residential Land in Troy, TX

      Residential land in River Oaks subdivision, Troy ISD.
      14169 Driftwood Cir, Troy, TX 76579
      View Details
    • $3,164,700
      57.54 Acres

      Unrestricted Acreage in Troy, Texas

      57+/- acres, unrestricted and ag-exempt, prime for development.
      99999 E Main St, Troy, TX 76579
      View Details

    Similar Nearby for Lease

    • $1.50 SF/Yr
      1,250 SF

      Retail Space in New Center

      Retail space available for lease in new strip center.
      308 Church Ave, Troy, TX 76579
      View Details
    • Contact for pricing
      87,120 SF

      Prime Troy, TX Commercial Land

      2 Acres, Build-to-Suit Opportunity
      100 Trojan Rd, Troy, TX 76579
      View Details
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    718 College Ave
    Troy, TX 76579
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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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