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

    117 Conejos Drive Nocona, TX 76255

    View on Map
    For Sale
    $876,000

    Unimproved Land - Nocona, TX

    Type:Unimproved Land
    Lot size:
    8.48 Acres
    Added:
    Feb 9, 2026
    Days on Market:
    52
    Last Refresh:
    Apr 2 at 9:06 pm

    Property Features for 117 Conejos Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    R000019880
    Lot size
    8.48 Acres

    Utilities

    Heating system
    None (Heating)
    Water front features
    Lake Front, Lake Front - Common Area, Waterfront
    Water front
    1

    Building Details

    Year built
    2000
    Architectural style
    Other

    We can help!

    Listing Contact
    Jp Findley

    Listing agent Jp Findley License #0669753

    Listing office Compass RE Texas, LLC 2595 Dallas Parkway St 300, Dallas, TX

    Listing date Feb 9, 2026

    MLS# 21038520 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

    Waterfront Land with Lake Views

    This waterfront property offers expansive views of Lake Nocona. The 8.48-acre parcel has potential for various commercial uses, including a marina, event center, RV park, marina fuel station, convenience store, or Airbnb cabins. The property is eligible for a 1031 exchange.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Kitchen & Bath Showroom Plumbing Service Nursing Home Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Nocona
    County
    Montague
    State
    Texas
    Longitude
    -97.658568
    Latitude
    33.84541

    Nearby Similar for Sale

    • $850,000
      2,938 SF

      Nocona Ranch with Custom Log Home

      26.8-acre ranch featuring a custom log home and equestrian facilities.
      4179 Rock Springs School Road, Nocona, TX 76255
      View Details
    • $876,000

      Waterfront Land with Lake Views

      8.48 acres of waterfront land with commercial potential.
      Lot 2073 Conejos Drive, Nocona, TX 76255
      View Details
    • $699,999
      1,245 SF

      Equestrian Property with Barndominium

      12-acre Texas equestrian property with barndominium and horse barn.
      5543 Gray Road, Nocona, TX 76255
      View Details
    • $755,000
      2,128 SF

      Nocona Ranch with Spacious Home

      40-acre ranch featuring a 2,128 sq ft home.
      381 W Mccool Road, Nocona, TX 76255
      View Details
    • $875,000
      1,914 SF

      Nocona Ranch with Modern Home

      34-acre ranch featuring updated home, pool, and shop.
      978 Longbranch Road, Nocona, TX 76255
      View Details
    • $115,000

      Highway Frontage Land in Nocona

      8.98 acres with highway frontage suitable for commercial/residential use.
      0 W Hwy 82, Nocona, TX 76255
      View Details
    • $134,999

      Nocona Land with Highway Frontage

      5.9 acre property equipped with utilities and highway frontage.
      120 Longbranch Road, Nocona, TX 76255
      View Details
    • $443,975

      Nocona, TX 41-Acre Land

      41 acres near Lake Nocona, ideal for homesite or recreation.
      0000 Carpenter, Nocona, TX 76255
      View Details
    • $599,000

      Nocona, TX 52-Acre Land

      52 acres near Lake Nocona, ideal for recreation or residence.
      0000 Carpenter Road, Nocona, TX 76255
      View Details
    • $690,000

      Lake Nocona Waterfront Acreage

      21.05 acres of waterfront land on Lake Nocona.
      000 Pr 460, Nocona, TX 76255
      View Details
    • $345,000

      Nocona Hills Land Opportunity

      22.5 acres in Nocona Hills, a premier gated community.
      120 Nocona Drive, Nocona, TX 76255
      View Details
    • $552,000

      60 Acres Highway Frontage Land

      Unimproved 60-acre land with highway frontage near Nocona, Texas.
      000tbd Highway 82, Nocona, TX 76255
      View Details

    FAQs

    What type of property is this?
    Commercial land - 8.48 acres of waterfront land with commercial potential.
    Where is this commercial land located?
    The property is located at 117 Conejos Drive Nocona, TX.
    What is the asking price?
    The asking price for this property is $876,000.
    What are key features of this property?
    This property features: Expansive waterfront property with prime Lake Nocona frontage and exceptional sunset views.; Versatile commercial potential: marina, event center, RV park, fuel station, convenience store, Airbnb cabins.; Significant 8.48‑acre parcel, potentially the most important in the subdivision.
    (469) 210-8288
    We can help!
    Listing Contact
    Jp Findley
    Real Estate License ID: 0669753
    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!