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    300 Martin St Lone Star, TX 75668

    Sponsored
    For Sale
    $660,000

    Commercial - Lone Star, TX

    Property size:
    9,577 SF
    Lot size:
    8.04 Acres
    Days on Market:
    6
    Last Refresh:
    Feb 18 at 10:06 pm

    Property Features for 300 Martin St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    9,577 SF
    Lot size
    8.04 Acres

    Building Details

    Number of units
    1
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Patricia McDonald
    Patricia McDonald

    Texas Real Estate Executives, The Daniels Group (903) 680-4663

    Listing agent Patricia McDonald (903) 680-4663

    Listing date Feb 13, 2026

    MLS# 20261010 Listing URL

    Copyright © 2026 Longview Area 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

    Unique Property Near Lone Star Lake

    This unique property, formerly the United Steelworkers Union Hall, is situated on 8.04 acres in Lone Star, Texas, offering access to Ellison Creek Reservoir, also known as Lone Star Lake. The property has been reconfigured into a residence and presents diverse opportunities for various uses. The entire structure spans approximately 9,577 square feet, according to the Morris County Appraisal District. A 2,440-square-foot area, previously comprising offices and meeting spaces, has been adapted into versatile living areas. The 7,137-square-foot enclosed garage provides exceptional flexibility, accommodating numerous vehicles and potentially serving as a large event space, entertainment area, community center, or multipurpose hall. The garage includes a full kitchen with a buffet area, along with separate men’s and women’s restrooms, enhancing its functionality for gatherings or special events. The acreage gently slopes toward the rear, featuring wooded terrain and trails leading to the lake access. Ownership on this lake includes land extending to the property line. U.S. Steel owns the land between the water’s edge and the property boundary, which may vary with lake levels and is common for properties in this area. This substantial structure and expansive land offer an exceptional canvas for buyers seeking space, flexibility, and opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    United Steelworkers Advocacy Group Steelworkers Union Hall Advocacy Group

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Hotel & Motel Department Store Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Lone Star
    County
    Morris
    State
    Texas
    Longitude
    -94.715311
    Latitude
    32.936936

    FAQs

    What type of property is this?
    Wedding venue - Versatile 8.04-acre property with lake access and large structure.
    Where is this wedding venue located?
    The property is located at 300 Martin St Lone Star, TX.
    What is the asking price?
    The asking price for this property is $660,000.
    What are key features of this property?
    This property features: - Expansive 9,577 sq ft property on 8.04 acres with access to Lone Star Lake.; - Boasts a **7,137 sq ft enclosed garage**, adaptable for multiple vehicles, events, or community use.; - Includes a full kitchen with buffet area and separate men’s and women’s restrooms in the garage.
    (903) 680-4663
    Request Owner's contact information
    300 Martin St Lone Star, TX 75668
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    Lone Star, TX 75668
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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.

    More about this property
    300 Martin St Lone Star, TX 75668
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    We can help!
    Listing Contact
    Patricia McDonald
    Patricia McDonald
    Real Estate License ID: 0778743
    (903) 680-4663 (931) 980-1302
    Learn more
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