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

    119 Norris St Commerce, TX 75428

    Sponsored
    For Sale
    $33,750

    Residential - Commerce, TX

    Lot size:
    0.33 Acres
    Days on Market:
    184
    Last Refresh:
    Jan 24 at 5:06 am

    Property Features for 119 Norris St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.33 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kelly Vessels

    EXIT Realty Pro (903) 567-7777

    Listing agent Kelly Vessels (903) 567-7777 License #0686708

    Listing date Jul 25, 2025

    MLS# 25011307 Listing URL

    Copyright © 2026 Greater Tyler Association 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 Commerce, TX

    This residential lot, located in Commerce, Texas, presents an opportunity for building a home or investment property. Situated just over an hour northeast of Dallas and within a 30-minute commute to Greenville, the 0.326-acre lot offers access to both small-town charm and big-city potential. The property is near Texas A&M University–Commerce, a hub for athletics, arts, and educational opportunities, as well as the Northeast Texas Children’s Museum. Commerce's historic downtown features boutique shopping, family-run dining, and community events such as fall festivals, school activities, and sports games. Cooper Lake State Park, offering boating, fishing, hiking, swimming, and equestrian trails, is a short drive away.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Commerce
    County
    Hunt
    State
    Texas
    Longitude
    -95.8874574
    Latitude
    33.253458

    Nearby Similar for Sale

    • $549,000
      0.81 Acres

      Well-Maintained Commercial Building on Corner Lot

      ADA-approved 6,500 sq ft building suitable for various purposes.
      803 Chestnut St, Commerce, TX 75428
      View Details
    • $335,000
      0.06 Acres

      Remodeled Mixed-Use Building in Commerce

      Remodeled mixed-use building with commercial space and residential loft.
      1213 Washington St, Commerce, TX 75428
      View Details
    • $599,500
      1,800 SF

      Northeast Texas Wooded Acreage

      Private 30-acre property with log home near Dallas.
      3879 County Road 4220, Commerce, TX 75428
      View Details
    • $354,900
      0.31 Acres

      New Duplex Near Texas A&M

      New construction duplex near Texas A&M Commerce, ideal for investors.
      1509 Locust St, Commerce, TX 75428
      View Details
    • $335,000
      0.06 Acres

      Remodeled Mixed-Use Building in Commerce

      Remodeled mixed-use building featuring commercial space and loft living.
      1213 Washington St, Commerce, TX 75428
      View Details
    • New
      $398,000
      1,600 SF

      Charming Country Home on Acreage

      3-bedroom home on ~10 acres near Commerce, TX.
      4760 County Road 4603, Commerce, TX 75428
      View Details
    • $1,500,000
      2,614 SF

      Commerce, TX Farm/Ranch Opportunity

      131-acre farm/ranch with custom home near Lake Ralph Hall.
      6559 Fm 2068, Commerce, TX 75428
      View Details
    • $240,000
      1,792 SF

      Duplex Near Texas A&M Commerce

      Full duplex near Texas A&M Commerce, great investment opportunity!
      1909 Sycamore St, Commerce, TX 75428
      View Details
    • $600,000
      7,200 SF

      Versatile Barndominium on Sprawling Acreage

      Unique property with business, income, and lifestyle opportunities.
      5596 Private Rd 4400, Commerce, TX 75428
      View Details
    • $210,000
      0.17 Acres

      Commerce, TX Duplex Investment

      Well-maintained duplex near East Texas A&M, great investment opportunity.
      1406 Sycamore St, Commerce, TX 75428
      View Details
    • $149,500
      1,683 SF

      Historic Retail Building on Main

      Prime Main Street retail building in Commerce, Texas.
      1222 Main St, Commerce, TX 75428
      View Details
    • $294,500
      1.00 Acre

      Office and Warehouse Downtown Commerce

      Office and warehouse combo on a treed one-acre lot.
      1021 Park St, Commerce, TX 75428
      View Details

    FAQs

    What type of property is this?
    Land - Ideal residential lot near Texas A&M University–Commerce.
    Where is this land located?
    The property is located at 119 Norris St Commerce, TX.
    What is the asking price?
    The asking price for this property is $33,750.
    What are key features of this property?
    This property features: - Prime residential lot perfect for your dream home or investment.; - Located near Texas A&M University–Commerce, offering access to athletics, arts, and educational opportunities.; - Conveniently located just over an hour from Dallas and within a 30-minute commute to Greenville.
    (903) 802-9604
    Request Owner's contact information
    119 Norris St Commerce, TX 75428
    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.
    119 Norris St
    Commerce, TX 75428
    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
    119 Norris St Commerce, TX 75428
    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
    Kelly Vessels
    Real Estate License ID: 0686708
    (903) 802-9604
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.