Add Listing
    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

    12153 Mustang Rd Pilot Point, TX 76258

    View on Map
    Sponsored
    For Sale
    $5,227,200

    Unimproved Land - Pilot Point, TX

    Type:Unimproved Land
    Lot size:
    10.00 Acres
    Days on Market:
    256
    Last Refresh:
    Mar 6 at 4:06 am

    Property Features for 12153 Mustang Rd

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    R112225
    Lot size
    10.00 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Natural Gas
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    2000
    Architectural style
    Other

    We can help!

    Listing Contact
    Coryann Johnson
    Coryann Johnson

    Texas Homes and Land (214) 908-5468

    Listing agent Coryann Johnson (214) 908-5468 License #0450333

    Listing date Jun 24, 2025

    MLS# 20980137 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.

    Learn more

    Property Insight Report

    Overview

    10 Acres Unzoned Land Opportunity

    This 10-acre property presents an opportunity for investors and developers in a rapidly growing North Texas area. The land is strategically located between FM 1385 and FM 2931, offering frontage and exposure along a major growth corridor surrounded by new residential and commercial developments. Positioned at the front of a planned 350-acre residential community, the property is suited for commercial, mixed-use, or income-producing development. The location offers long-term value and short-term opportunity due to Denton County’s population and infrastructure expansion. The property consists of two 5-acre tracts with road frontage and high visibility. It is unzoned and unrestricted in the county, making it suitable for retail, office, flex space, storage, or mixed-use purposes. There are two existing homes on site, which could be used as rental units, site offices, or for short-term income. The property experiences high traffic counts and strong surrounding residential demand. It offers minimal holding costs with flexible exit strategies for immediate development or future appreciation. The property is located along FM 1385 and nearby thoroughfares, providing a footprint for scalable development in a high-demand submarket.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Pilot Point
    County
    Denton
    State
    Texas
    Longitude
    -96.92174846
    Latitude
    33.32184189

    Nearby Similar for Sale

    • $460,000
      0.29 Acres

      Versatile Commercial Property on Highway 377

      Highly visible commercial property ideal for diverse business opportunities.
      520 Highway 377 S, Pilot Point, TX 76258
      View Details
    • $569,000
      2,298 SF

      Equipped Horse and Livestock Property

      Boutique horse and livestock property on 2.817 acres near Lake Ray Roberts.
      11975 Massey Rd, Pilot Point, TX 76258
      View Details
    • $1,795,000
      0.67 Acres

      Historic Commercial Property in Pilot Point

      Landmark property in historic downtown Pilot Point, Texas.
      111 E Liberty St, Pilot Point, TX 76258
      View Details
    • $885,000
      0.34 Acres

      HVAC Industrial Building in Pilot Point

      Clean, fully HVAC building with quality interior finishes.
      1208 N Industrial Blvd, Pilot Point, TX 76258
      View Details
    • $849,000
      6,000 SF

      Equestrian Facility with Income Potential

      Turn-key equestrian facility on 4.95 acres with income-generating residential units.
      8771 Fm 2931, Pilot Point, TX 76258
      View Details
    • $849,000
      2,240 SF

      Equestrian Facility with Income Potential

      Turnkey equestrian facility on 4.95 acres with income-generating residential units.
      8771 Fm 2931, Pilot Point, TX 76258
      View Details
    • $5,995,000
      8,393 SF

      Luxury Estate with Lake Views

      Refined country living on 30.11 acres in Pilot Point.
      701 W Walcott St, Pilot Point, TX 76258
      View Details
    • $727,500
      0.12 Acres

      Historic Retail Building in Pilot Point

      Charming 1882 building in historic Pilot Point town square.
      109 S Jefferson St, Pilot Point, TX 76258
      View Details
    • $4,500,000
      5,714 SF

      Pilot Point Ranch with Views

      Expansive property ideal for horses, agriculture, or luxury estate.
      11559 Merrill Rd, Pilot Point, TX 76258
      View Details
    • $1,900,000
      4,449 SF

      Equestrian Estate with Covered Arena

      Spacious home on unrestricted land, ideal for equestrian pursuits.
      11410 Massey Rd, Pilot Point, TX 76258
      View Details
    • $1,750,000
      2,128 SF

      Pilot Point Ranch Opportunity

      18-acre AG EXEMPT working ranch in Pilot Point, Texas.
      9979 Oak Creek Dr, Pilot Point, TX 76258
      View Details
    • $1,179,000
      0.07 Acres

      Historic Retail Building on Town Square

      Charming retail building in historic Pilot Point town square.
      115 S Jefferson St, Pilot Point, TX 76258
      View Details

    FAQs

    What type of property is this?
    Commercial land - Unzoned, unrestricted 10-acre land ideal for development in Pilot Point.
    Where is this commercial land located?
    The property is located at 12153 Mustang Rd Pilot Point, TX.
    What is the asking price?
    The asking price for this property is $5,227,200.
    What are key features of this property?
    This property features: - 10 acres of unzoned and unrestricted land in a rapidly growing North Texas area.; - **Excellent road frontage and high visibility** along a major growth corridor (FM 1385 and FM 2931).; - Positioned at the front of a planned 350-acre residential community, ideal for commercial or mixed-use development.
    (214) 908-5468
    Request Owner's contact information
    12153 Mustang Rd Pilot Point, TX 76258
    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.
    12153 Mustang Rd
    Pilot Point, TX 76258
    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
    12153 Mustang Rd Pilot Point, TX 76258
    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
    Coryann Johnson
    Coryann Johnson
    Real Estate License ID: 0450333
    (214) 908-5468 (972) 382-4747 (903) 870-6956
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!