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

    Springfield Mdws Dr Hockley, TX 77447

    • Sports & entertainment properties
    • 4,622 SF
    • 3.03 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5477715
    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

    • Sports & entertainment properties

    Property Details for Springfield Mdws Dr

    Year built
    2018
    Construction
    STEEL FRAME
    Lot size
    3.03 lot acres
    Property size
    4,622 SF
    Property type
    Sports & entertainment properties
    APN
    1405590020023
    APU
    1405590020023

    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
    Hockley
    County
    Harris
    State
    Texas
    Longitude
    -95.7889
    Latitude
    30.0184
    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
    2022
    $1.00
    $6,599
    $50
    $6,649
    -
    $6,599
    $50
    $6,649

    Comparable in this City

    • Value Estimation by Request
      1,716 SF

      18806 Roberts Rd

      RECREATIONAL, ENTERTAINMENT • 1,716 SF
      18806 Roberts Rd, Hockley, TX 77447-9327
      View Details
    • Value Estimation by Request
      3,840 SF

      22422 Fm 2920th Rd

      THEATER (MOVIE) • 3,840 SF
      22422 Fm 2920th Rd, Hockley, TX 77447-9395
      View Details
    • Value Estimation by Request

      290 Grand Logistics Highway 290 and Kermier Rd

      Land For Sale/Lease
      290 Grand Logistics Highway 290 and Kermier Rd Hockley, TX 77447, Hockley, TX 77447
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    • Value Estimation by Request
      10.00 Acres

      16070 Warren Ranch Rd

      Land • 10.00 Acres
      16070 Warren Ranch Rd, Hockley, TX 77447
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    • Value Estimation by Request
      17.95 Acres

      Kermier Rd

      Land • 17.95 Acres
      0 Kermier Rd, Waller, TX 77447
      View Details
    • Value Estimation by Request
      82,100 SF

      18638 Kermier Rd

      Distribution properties • 82,100 SF
      18638 Kermier Rd, Hockley, TX 77447
      View Details

    Similar Nearby for Sale

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      1.94 Acres

      Dellrose Hard Corner Commercial Land

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      Unrestricted Land Near Grand Parkway

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      Hockley Land with Development Potential

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      7,500 SF

      Hockley Industrial Property for Sale

      7,500 SF industrial property in Hockley, Texas available for purchase.
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    Similar Nearby for Lease

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      6 SF

      Industrial Building with Office Space

      Industrial building featuring office space on a 0.402 AC lot.
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      Kermier Commerce Park Land Lease

      18-Acre Commercial/Industrial Land Parcel
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    • Contact for pricing

      Hockley Land For Rent

      Land available for rent in Hockley, Texas.
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    • $12 SF/Yr
      1,800 SF

      Retail Space in Hockley, TX

      Retail space with high visibility and easy access.
      22610-22618 Fm 2920 Rd, Hockley, TX 77447
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      17 SF

      Hockley Land for Lease

      17.95 AC land available for lease or build-to-suit.
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    • $11 SF/Yr
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      Zube Business Park Warehouse For Lease

      Modern 8,850 SF Warehouse in Hockley, TX
      17531 Roberts Rd -, Hockley, TX 77447
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    Hockley, TX 77447
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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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