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

    304 N Wheeler St Colmesneil, TX 75938

    Sponsored
    For Sale
    $65,000

    Lots - Colmesneil, TX

    Lot size:
    1.30 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 24 at 3:06 am

    Property Features for 304 N Wheeler St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Na Not Applicable
    Lot size
    1.30 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Ashley Jackson-Whitworth

    Martindale Real Estate Investments (409) 283-8727

    Listing agent Ashley Jackson-Whitworth (409) 283-8727

    Listing date Feb 22, 2026

    MLS# 65108032 Listing URL

    Copyright © 2026 Nacogdoches Board 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

    Overview

    Unrestricted Land with Highway Frontage

    This 1.3+/- acre unrestricted tract offers approximately 300 feet of highway frontage and outstanding visibility. The property is cleared and ready for development, making it an excellent candidate for commercial, residential, or mixed-use possibilities. A cinder block structure is currently in place and offers potential for renovation into a storefront, office space, workshop, or even a residence. The existing building requires significant improvements and is being offered at land value, providing flexibility for investors, entrepreneurs, or buyers looking to build to suit. With utilities available on site and easy access from the highway, this location supports a wide range of uses—from small business operations and retail to a homesite with prime exposure. Unrestricted and versatile, this tract presents the freedom to create the vision that best fits your needs. The property is located in Colmesneil, Texas.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Colmesneil
    County
    Tyler
    State
    Texas
    Longitude
    -94.4223387
    Latitude
    30.9084165

    Nearby Similar for Sale

    • New
      $448,900
      2,168 SF

      Sprawling Acreage with Timber Exemption

      16.54 acres with mid-century home, pond, and outbuildings.
      222 County Road 3085, Colmesneil, TX 75938
      View Details
    • New
      $102,500
      0.40 Acres

      Waterfront Lot with RV Included

      Waterfront lot on Lake Amanda with RV, bathhouse, and utilities.
      1254 County Road 3180, Colmesneil, TX 75938
      View Details
    • $995,000

      Recreational Ranch with Modern Home

      100-acre recreational ranch featuring a newly built modern home.
      1068 County Road 3200, Colmesneil, TX 75938
      View Details
    • Contact for pricing
      1,880 SF

      Modern Home on Unrestricted Land

      Modern 3-bedroom home on 7+ acres of unrestricted land.
      5484 Fm 256 W, Colmesneil, TX 75938
      View Details
    • $395,000

      Colmesneil Farm with Modern Home

      2022 home on 11+ acres, ideal for livestock.
      275 County Rd, Colmesneil, TX 75938
      View Details
    • $549,000

      25+ Acre Country Property

      25.49-acre property with a home, barns, and pond.
      2899 County Road 3260, Colmesneil, TX 75938
      View Details
    • $1,850,000

      Secluded 55.5-Acre Retreat

      Charming property with spacious home, outdoor living, and metal building.
      205 Private Road 7770, Colmesneil, TX 75938
      View Details
    • $448,900

      Mid-Century Home on Unrestricted Land

      Spacious home on 16.54 acres with pond and outbuildings.
      222 County Road 3085, Colmesneil, TX 75938
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.3 acre unrestricted tract with highway frontage, ready for development.
    Where is this commercial land located?
    The property is located at 304 N Wheeler St Colmesneil, TX.
    What is the asking price?
    The asking price for this property is $65,000.
    What are key features of this property?
    This property features: - 1.3+\/- acre unrestricted tract with **300 feet of highway frontage and outstanding visibility**.; - **Cleared and ready for development**: suitable for commercial, residential, or mixed-use.; - Utilities available on site and easy highway access.
    (409) 429-4011
    Request Owner's contact information
    304 N Wheeler St Colmesneil, TX 75938
    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.
    304 N Wheeler St
    Colmesneil, TX 75938
    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
    304 N Wheeler St Colmesneil, TX 75938
    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
    Ashley Jackson-Whitworth
    (409) 429-4011 (409) 283-8727
    Learn more
    Google sign-in failed. Please try again or use another login method.