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    Development Land with Hwy Frontage Title is generated by Realmo AI

    121.147 Acres. State Hwy 31 Bypass, Corsicana, TX 75110

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    For Sale
    $2,531,972

    LAND - Corsicana, TX

    Lot size:
    121.15 Acres
    Added:
    Apr 16, 2026
    Days on Market:
    51
    Last Refresh:
    Jun 5 at 7:06 pm

    Property Features for 121.147 Acres. State Hwy 31 Bypass

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    50473
    Lot size
    121.15 Acres

    Taxes and HOA fees

    Tax Description
    ABS A10299 R GOODLOE ABST TRACT 130A 37.0 ACR
    Tax Annual Amount
    53

    We can help!

    Listing Contact
    Laura Smith

    Listing agent Laura Smith License #0645005

    Listing office Keller Williams Lonestar DFW Arlington, TX

    Listing date Apr 16, 2026

    MLS# 21236208

    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.

    HighLights

    • Just over 121 acres west of Corsicana, immediately outside city limits on the Hwy 31 Loop Bypass
    • Approximately 2,400 feet of road frontage on Hwy 31 Loop
    • Located at the highly trafficked SH 31 Corsicana Bypass with strong visibility in a high‑traffic area
    • Deed restrictions include no dumping, no junkyards, no hog farms, and no manufactured homes
    • ACCESS and utility availability/cost must be verified by the buyer
    • Exact acreage and road frontage to be verified by survey (MLS states estimated size)

    Overview

    This offering consists of a commercial land tract of just over 121 acres located just west of Corsicana, immediately outside the city limits. The property presents an excellent development opportunity with approximately 2,400 feet of road frontage along the HWY 31 Loop Bypass, subject to final verification by survey. Deed restrictions will apply, including prohibitions on dumping, junkyards, hog farms, and manufactured homes.

    The tract is positioned on the SH 31 Corsicana Bypass and is described as benefiting from exceptional exposure in a rapidly growing, high-traffic area. While the listing highlights the visibility and development potential, buyers should verify all access, utility availability, and related costs. The exact acreage and road frontage are estimated in the MLS and must be confirmed through survey.

    Given the scale and frontage, this property may appeal to investors and developers looking to capitalize on expanding infrastructure and demand along a major bypass corridor. The deed restrictions may also be attractive for buyers seeking to maintain a certain quality standard for future uses, while the need to confirm access and utilities should be accounted for in planning and underwriting.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Corsicana
    County
    Navarro
    State
    Texas
    Longitude
    -96.5310935
    Latitude
    32.0437095

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    FAQs

    What type of property is this?
    Commercial land - A large tract near a high-traffic bypass offering strong exposure, with deed restrictions to support long-term quality.
    Where is this commercial land located?
    The property is located at 121.147 Acres. State Hwy 31 Bypass Corsicana, TX.
    What is the asking price?
    The asking price for this property is $2,531,972.
    What are key features of this property?
    This property features: Just over 121 acres west of Corsicana, immediately outside city limits on the Hwy 31 Loop Bypass; Approximately 2,400 feet of road frontage on Hwy 31 Loop; Located at the highly trafficked SH 31 Corsicana Bypass with strong visibility in a high‑traffic area
    (817) 795-2500
    We can help!
    Listing Contact
    Laura Smith
    Real Estate License ID: 0645005
    Learn More
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    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.

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