10405 Fairmont PkwyLa Porte, TX 77571

Property Details for 10405 Fairmont Pkwy

Year built

2000

Construction

METAL FRAME

Lot size

0.93 AC

Property size (Sq ft)

9,150 SF

Property type

Retail space

APN

431480000342

APU

431480000342

Description

Exceptional 2.4-acre commercial and residential land parcel in La Porte, Texas, is available for $600,000. This strategically located property sits at 10405 W Fairmont Pkwy, 77571, in Harris County, offering significant development potential. The land is priced at $6.50 per square foot. The site benefits from its proximity to a newly leased 8,000 square foot Spec's freestanding store currently under development on an adjacent lot, indicating a thriving retail corridor. This presents an opportunity to join Spec's and other businesses in this dynamic area, experiencing growth fueled by new residential subdivisions and a rising population. The City of La Porte is actively pursuing additional retail development, making this an ideal location for a build-to-suit project, a direct sale, or a ground lease. The property's flexibility allows for subdivision to accommodate smaller tenants. The area boasts a strong employment base, including significant medical facilities, further enhancing its appeal and investment potential. This property offers a unique chance to capitalize on a rapidly expanding market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,754,685

  6.5%

  $2,542,786

  7%

  $2,361,158

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,408,186

  Geo Method

  $6,903,334

• Alternative Use

  Use

  Valuation

  Residential

  $2,144,935

  Hospitality

  $1,964,749

  Educational

  $1,634,648

  Medical

  $1,690,866

  Retail

  $2,542,786

Location Insight

City

La Porte

County

Harris

State

Texas

Latitude

29.6525

Longitude

-95.0725

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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