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

    495 Rice Street Hemphill, TX 75948

    View on Map
    For Sale
    $149,900

    Commercial Lots/Acreage - Hemphill, TX

    Lot size:
    2.99 Acres
    Added:
    Feb 11, 2026
    Days on Market:
    56
    Last Refresh:
    Apr 8 at 11:06 pm

    Property Features for 495 Rice Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Na Not Applicable
    Exterior features
    Other
    Standard status
    Active
    Lot size
    2.99 Acres

    Utilities

    Heating system
    Other (Heating)

    Building Details

    Building materials
    Other
    Roof type
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Zack Osment

    Listing agent Zack Osment

    Listing office Toledo Bend Properties 9901 State Hwy 87 South, Hemphill, TX

    Listing date Feb 11, 2026

    MLS# 65108014 Listing URL

    Copyright © 2026 Deep East Texas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Cleared Commercial Land Opportunity

    This approximately 2.988-acre cleared tract presents a prime commercial opportunity. The location, just two blocks from downtown Hemphill, offers convenience and strong exposure, making it ideal for retail or service-based businesses. Hemphill attracts outdoor enthusiasts year-round due to its proximity to Toledo Bend Lake. The property features dual road frontages, providing visibility and flexibility for development. Multiple access points for traffic flow entry and exit are possible with both frontages. This growing community offers recreational and hometown traffic.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Hemphill
    County
    Sabine
    State
    Texas
    Longitude
    -93.803
    Latitude
    31.2799

    Nearby Similar for Sale

    • $450,000
      4,001 SF

      Hemphill Medical Clinic Opportunity

      Spacious, well-maintained medical clinic in Hemphill, Texas for sale.
      1111 Worth Street, Hemphill, TX 75948
      View Details
    • $1,900,000
      6,000 SF

      Restaurant, RV Park, Hotel, Cabin

      Restaurant, RV park, hotel rooms, and cabin on Toledo Bend Lake.
      9848 & 9920 Hwy 87 S, Hemphill, TX 75948
      View Details
    • $185,000
      817 SF

      Hemphill Commercial Building Near Hospital

      Commercial building near Sabine County Hospital, suitable for various uses.
      2155 Worth Street, Hemphill, TX 75948
      View Details
    • $350,000
      7,100 SF

      Retail Investment Property in Hemphill

      Commercial investment property with multiple income streams in Hemphill, TX.
      630 Sabine Street, Hemphill, TX 75948
      View Details
    • $467,000

      Waterfront Acreage with RV Setup

      6.447-acre waterfront property on Toledo Bend with utilities and improvements.
      215 Marshall Lane, Hemphill, TX 75948
      View Details
    • $29,999

      Golf Course Lots in Hemphill

      Three contiguous golf course lots in Pendleton Harbor Subdivision.
      0 Nautilus Drive, Hemphill, TX 75948
      View Details
    • $10,000

      Hemphill, TX Residential Lots

      Two lots in Hemphill, TX, near lake and national forest.
      6032866 River Oaks Drive, Hemphill, TX 75948
      View Details
    • $160,000

      Unrestricted Acreage Outside City Limits

      22.5 acres of unrestricted land near Hemphill, Texas.
      1275 Beckcom Road, Hemphill, TX 75948
      View Details
    • $89,500

      Hemphill, TX 10-Acre Tract

      10 acres near Hemphill, TX with highway frontage.
      3122 State Hwy 184, Hemphill, TX 75948
      View Details
    • $349,000

      Unrestricted Toledo Bend Waterfront Acres

      20.4 acres of unrestricted waterfront property near Sabine National Forest.
      999 Davidson Rd, Hemphill, TX 75948
      View Details
    • $8,000

      Residential Lot in Springhill Subdivision

      Residential lot with utilities, suitable for mobile homes.
      82 River Oaks Drive, Hemphill, TX 75948
      View Details
    • $12,000

      Hemphill, TX Wooded Lot

      Level, wooded 0.25 acre lot in Pendleton Harbor Subdivision.
      220 Kennon Drive, Hemphill, TX 75948
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.988 acre cleared tract ideal for retail development.
    Where is this commercial land located?
    The property is located at 495 Rice Street Hemphill, TX.
    What is the asking price?
    The asking price for this property is $149,900.
    What are key features of this property?
    This property features: Prime commercial opportunity on approximately 2.988 acres.; Dual road frontages offer high visibility and flexible development options.; Multiple access points enhance traffic flow.
    (409) 527-0008
    We can help!
    Listing Contact
    Zack Osment
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!