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    324 N Greenville Rd Josephine, TX 75173

    View on Map
    Sponsored
    For Sale
    $1,590,000

    Ranch, Farm/Ranch - Josephine, TX

    Type:Farm
    Property size:
    1,344 SF
    Lot size:
    22.05 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 5 at 10:06 am

    Property Features for 324 N Greenville Rd

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    APN
    R620100000201
    Parking features
    Driveway
    Exterior features
    Private Entrance, Rv/Boat Parking, Stable/Barn, Storage
    Appliances
    Range, Range - Gas
    Size
    1,344 SF
    Lot size
    22.05 Acres

    Utilities

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

    Building Details

    Year built
    1950
    Floors in Building
    1
    Roof type
    Composition
    Architectural style
    Ranch
    Additional Structures
    Barn(s), RV/Boat Storage, Stable(s), Storage

    We can help!

    Listing Contact
    Randal Haluptzok

    Cheryl Rivera Smith (214) 669-0606

    Listing agent Randal Haluptzok (214) 669-0606 License #0667526

    Listing date Mar 4, 2026

    MLS# 21196987 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

    22 Acres in Growing Josephine

    This property, situated on over 22 acres in Josephine, Collin County, presents a development opportunity in a rapidly growing area. Located across from the new Ellis Elementary School and near the planned middle school, the site is positioned within an expanding residential community with increasing demand for retail and services. The property features mostly cleared, flat land with scattered mature trees. Approximately 4 acres at the front of the property lie within Josephine city limits and include a 1344 sq ft home built in 1950 and a 30x50 shop with electricity. The rear 18+ acres are within Josephine’s ETJ and currently have no zoning restrictions. Potential uses include multifamily, retail, mixed-use, neighborhood commercial center, or event venue. Josephine is experiencing infrastructure and population growth, with Greenville Street expanding to four lanes and new residential subdivisions underway. Retail and commercial services are limited, creating an opportunity for investors and developers. Local development plans indicate that major national retailers are evaluating expansion along the Highway 6 corridor. The property offers visibility, proximity to new schools, and flexible land use potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Pharmacy Kitchen & Bath Showroom Storage Facility Garden Center Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Josephine
    County
    Collin
    State
    Texas
    Longitude
    -96.309192
    Latitude
    33.071272

    Nearby Similar for Sale

    • $1,300,000
      2,507 SF

      Josephine Office/Residential Land

      Prime 5-acre development opportunity in Josephine, TX.
      511 Cook St, Josephine, TX 75189
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    • $259,500
      1,096 SF

      Josephine, TX Commercial Property

      High-Growth Area, Multi-Use Potential
      503 St, Josephine, TX 75173
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    • $1,200,000
      1,999 SF

      Josephine, TX Commercial Land Opportunity

      High-growth area, 5-acre lot, ideal for development.
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    FAQs

    What type of property is this?
    Commercial land - Land with development potential in Collin County's growth corridor.
    Where is this commercial land located?
    The property is located at 324 N Greenville Rd Josephine, TX.
    What is the asking price?
    The asking price for this property is $1,590,000.
    What are key features of this property?
    This property features: - 22+ acres in Josephine, Collin County, a rapidly growing area.; - Flexible land use for residential, commercial, or mixed-use development.; - Located across from a new elementary school and near a future middle school.
    (214) 669-0606
    Request Owner's contact information
    324 N Greenville Rd Josephine, TX 75173
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    Josephine, TX 75173
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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
    324 N Greenville Rd Josephine, TX 75173
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    We can help!
    Listing Contact
    Randal Haluptzok
    Real Estate License ID: 0667526
    (214) 669-0606 (214) 282-0978
    Learn more
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