Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1002 N Plateau St Marfa, TX 79843

    Sponsored
    For Sale
    $59,500

    LAND - Marfa, TX

    Lot size:
    0.21 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 7 at 11:06 am

    Property Features for 1002 N Plateau St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    28760
    Lot size
    0.21 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Lauren Meader Fowlkes

    Kuper Southeby's Int'l Relty (210) 822-8602

    Listing agent Lauren Meader Fowlkes (432) 295-2849

    Listing date Feb 5, 2026

    MLS# 167156 Listing URL

    Copyright © 2026 Odessa Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Residential Lot in Marfa, TX

    Located in the Mahon neighborhood of Marfa, Texas, the property at 1002 North Plateau Street is a level lot situated at the edge of the northern city limits. The lot is partially fenced and has buried utilities at the lot line. The property is zoned R-1 Single Family. The surrounding area features high-quality new construction projects and historical homes. The lot size is 0.21 acres. The property is intended for residential use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Marfa
    County
    Presidio
    State
    Texas
    Longitude
    -104.0304488
    Latitude
    30.3177375

    Nearby Similar for Sale

    • $1,500,000
      6,920 SF

      Highway Frontage Property in Marfa

      Versatile property with highway frontage, multiple buildings, and unique features.
      1498 Hwy 90 E, Marfa, TX 79843
      View Details
    • $749,000
      9,830 SF

      Marfa Mixed-Use Commercial Property

      Commercial property with retail, office, and storage units in Marfa.
      903-905 W San Antonio St, Marfa, TX 79843
      View Details
    • $3,550,000
      8,469 SF

      Renovated Commercial Building in Marfa

      Exquisitely renovated commercial building with retail and office spaces.
      125 N Highland Ave, Marfa, TX 79843
      View Details
    • $1,750,000
      5,825 SF

      Renovated Commercial Building in Marfa

      Corner commercial building with living quarters, ideal for various businesses.
      100 E San Antonio St, Marfa, TX 79843
      View Details
    • $500,000
      2,548 SF

      Marfa Quadplex in Avant Neighborhood

      Multifamily zoned quadplex in Marfa, Texas, built in 2006.
      400 E 1 St, Marfa, TX 79843
      View Details
    • $575,000
      2.28 Acres

      Marfa, TX Land For Sale

      2.28 acre parcel with highway frontage near Marfa, TX.
      18426 Hwy W, Marfa, TX 79843
      View Details
    • $890,000
      0.40 Acres

      Marfa Retail with Adobe Structures

      Retail property in prime location featuring three adobe structures.
      310 San Antonio St, Marfa, TX 79843
      View Details
    • $890,000
      17,684 SF

      Marfa Commercial Property For Sale

      Commercial property in Marfa, TX with multiple structures.
      310 San Antonio St, Marfa, TX 79843
      View Details
    • $800,000
      7,200 SF

      Historic Marfa Theater with Apartments

      Historic theater with two apartments in Marfa, Texas.
      220 N Highland Ave, Marfa, TX 79843
      View Details
    • $895,000
      4,816 SF

      Marfa Property with Shop

      Versatile property with residence, casita, shop, and income potential.
      1613 W San Antonio St, Marfa, TX 79843
      View Details
    • $3,850,000
      8,469 SF

      Prime Marfa Retail Opportunity

      Downtown Marfa Retail & Office Building
      125 Highland Ave, Marfa, TX 79843
      View Details
    • $3,200,000
      6,920 SF

      Marfa Office Complex - Highway Frontage

      Prime Marfa Office & Event Space
      1498 Hwy, Marfa, TX 79843
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Level lot in desirable neighborhood, ready for new construction.
    Where is this residential land & home lot located?
    The property is located at 1002 N Plateau St Marfa, TX.
    What is the asking price?
    The asking price for this property is $59,500.
    What are key features of this property?
    This property features: - Prime location in Marfa's desirable Mahon neighborhood; - Level lot with buried utilities at the lot line; - Surrounded by high-quality new construction and historical homes
    (432) 295-2849
    Request Owner's contact information
    1002 N Plateau St Marfa, TX 79843
    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.
    1002 N Plateau St
    Marfa, TX 79843
    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
    1002 N Plateau St Marfa, TX 79843
    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

    We can help!
    Listing Contact
    Lauren Meader Fowlkes
    (432) 295-2849
    Learn more
    Google sign-in failed. Please try again or use another login method.