TBD Highway 242
About This Property
These two adjacent land lots offer excellent visibility and access along Hwy 242, located in one of Conroe's fastest-growing commercial corridors. Positioned near major thoroughfares and surrounded by expanding residential neighborhoods, medical facilities, and retail centers, this property is ideal for a wide range of development opportunities.
With frontage on a high-traffic highway and situated in a strong growth market, the lots are well-suited for retail, office, service-based businesses, or mixed-use projects. Utilities are nearby, and the flat terrain offers a solid foundation for future construction.
Don't miss this chance to secure valuable frontage in a rapidly developing area with long-term upside.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 17, 2026 | In contract | - | |
| In contract | |||
| Feb 17, 2026 | Price Decreased |
$585,000
↓ $65K
(10%) | |
| Price Decreased | |||
| Dec 9, 2025 | Price Decreased |
$650,000
↓ $139K
(17.6%) | |
| Price Decreased | |||
| Nov 11, 2025 | Relisted | $789,000 | |
| Relisted | |||
| Oct 9, 2025 | In contract | - | |
| In contract | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017