Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1103 S State Highway 78 Leonard, TX 75452

    View on Map
    Claim this Listing
    Picture of Farms at 1103 S State Highway 78, Leonard, TX
    For Sale
    $655,500

    Improved Land - Leonard, TX

    Lot size:
    14.00 Acres
    Added:
    Dec 9, 2025
    Days on Market:
    141
    Last Refresh:
    Apr 29 at 2:06 pm

    Property Features for 1103 S State Highway 78

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    0785-004-0010-02
    Lot size
    14.00 Acres

    Building Details

    Year built
    1993
    Architectural style
    Other

    We can help!

    Listing Contact
    Rickie McCord

    Listing agent Rickie McCord License #0507596

    Listing office Southwest USA Realty 1700 Redbud Blvd, Mckinney, TX

    Listing date Dec 9, 2025

    MLS# 20742489 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Land with Homes and Barns

    The property includes 14 acres with an 1100 square foot home, along with an additional 15.93 acres featuring a 3504 square foot home, stalls, and barns. The properties, located next to 1103 S State Highway 78, are being sold together, encompassing a total of 29.93 acres with buildings and two homes at 1101 and 1103. The property is currently leased on a month-to-month basis.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Leonard
    County
    Fannin
    State
    Texas
    Longitude
    -96.2317544
    Latitude
    33.3862418

    Nearby Similar for Sale

    • $2,399,000
      7,900 SF

      Premier Event and Wedding Venue

      Thriving venue on 15 acres with expansion potential.
      792 County Road 4945, Leonard, TX 75452
      View Details
    • $999,900

      32 Acres in Leonard, Texas

      32 acres with home, barn, ponds, suitable for ranching.
      0 County Road 4725, Leonard, TX 75452
      View Details
    • $190,000

      Historic Retail Building in Leonard

      Antique building on historic square, ideal for retail.
      114 W Collin Street, Leonard, TX 75452
      View Details
    • $624,999
      2,118 SF

      Leonard TX Farm and Ranch

      17+ acres with upgraded home near future Lake Ralph Hall.
      7939 S State Highway 78, Leonard, TX 75452
      View Details
    • $3,000,000

      Turnkey Event Venue on 32 Acres

      Elegant event venue with living space on 32 acres.
      5262 Fm 896, Leonard, TX 75490
      View Details
    • $999,900

      32 Acres with No Restrictions

      32 acres featuring a 2-bedroom home, barn, and ponds.
      2 County Road 4725, Leonard, TX 75452
      View Details
    • $2,000,000
      3,151 SF

      Leonard, TX Farm and Ranch

      35-acre property with main house and multiple residences.
      23115 S State Highway 78, Leonard, TX 75452
      View Details
    • $650,000
      4,755 SF

      Established Restaurant in Leonard, Texas

      Restaurant for sale in Leonard, TX with prime location.
      701 N Crossroads, Leonard, TX 75452
      View Details
    • $855,500

      Land with Home and Barns

      15.93 acres with home, stalls, and barns in Leonard.
      1101 S State Highway 78, Leonard, TX 75452
      View Details
    • $650,000
      4,755 SF

      Established Restaurant in Leonard, Texas

      Fully operational restaurant for sale in Leonard, Texas.
      701 N Crossroads, Leonard, TX 75452
      View Details
    • $190,000
      3,358 SF

      Historic Building on Red Brick Square

      Antique building in historic Leonard, Texas, suitable for retail.
      114 W Collin Street, Leonard, TX 75452
      View Details
    • $2,000,000
      3,100 SF

      35 Acres of Versatile Land

      35-acre property with main home and multiple residences.
      23115 S State Highway 78, Leonard, TX 75452
      View Details

    FAQs

    What type of property is this?
    Farm - 29.93 acres with two homes, stalls, and barns.
    Where is this farm located?
    The property is located at 1103 S State Highway 78 Leonard, TX.
    What is the asking price?
    The asking price for this property is $655,500.
    What are key features of this property?
    This property features: Total of 29.93 acres included.; Two homes included: **1100 sf and 3504 sf.**; Includes stalls and barns.
    (972) 529-7085
    We can help!
    Listing Contact
    Rickie McCord
    Real Estate License ID: 0507596
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!