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

    500 E Grove Street Terrell, TX 75160

    View on Map
    Picture of Land at 500 E Grove Street, Terrell, TX
    For Sale
    $790,000

    Unimproved Land - Terrell, TX

    Type:Unimproved Land
    Lot size:
    5.88 Acres
    Added:
    Oct 27, 2025
    Days on Market:
    157
    Last Refresh:
    Apr 1 at 8:06 pm

    Property Features for 500 E Grove Street

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    40001
    Lot size
    5.88 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Bruce Henderson

    Listing agent Bruce Henderson License #0619362

    Listing office Keller Williams Lonestar DFW 701 Highlander Blvd, Suite 400, Arlington, TX

    Listing date Oct 27, 2025

    MLS# 21095592 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.

    Overview

    Vacant Land in Terrell, Texas

    This vacant property consists of 5.882 acres of unimproved land. Previous approval was granted for the construction of a truck repair garage, although the project was not pursued. The property is located in Terrell, Texas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Terrell
    County
    Kaufman
    State
    Texas
    Longitude
    -96.272435
    Latitude
    32.733055

    Nearby Similar for Sale

    • $1,900,000

      Versatile Commercial Property on 3+ Acres

      Commercial property with highway frontage, ideal for various business opportunities.
      15377 N State Highway 34, Terrell, TX 75161
      View Details
    • $549,900

      Downtown Terrell Commercial Building For Sale

      Two-story commercial building in downtown Terrell with multiple potential uses.
      203 N Rockwall Avenue, Terrell, TX 75160
      View Details
    • $749,500

      Versatile 10-Acre Commercial Property

      Unrestricted 10-acre property ideal for commercial, agricultural, or mixed-use.
      12282 Fm 1392, Terrell, TX 75160
      View Details
    • $450,000

      Commercial Land in Terrell, Texas

      Unimproved commercial land with highway frontage in a growing area.
      0000 HWY 34, Terrell, TX 75160
      View Details
    • $1,700,000

      Historic Terrell Office Building

      Iconic, restored multi-tenant office building in historic downtown Terrell.
      102 E Moore Avenue, Terrell, TX 75160
      View Details
    • $995,000
      2,261 SF

      30-Acre Ranch with Workshop

      Updated ranch home with workshop near Terrell, Texas.
      12586 County Road 351, Terrell, TX 75161
      View Details
    • $625,000
      1,792 SF

      Modern Farmhouse on 11 Acres

      Secluded, move-in ready farmhouse with land in Able Springs, TX.
      9292 County Road 346, Terrell, TX 75161
      View Details
    • $3,900,000

      Terrell Retail/Distribution Opportunity Zone Property

      Dealership/distribution/retail property in Terrell, TX, located in Opportunity Zone.
      1608 W Moore Avenue, Terrell, TX 75160
      View Details
    • $299,900

      Terrell Duplex: Investment Opportunity

      Full duplex near Terrell's heart, ideal for owner or investor.
      1104 & 1106 E High Street, Terrell, TX 75160
      View Details
    • $4,446,720

      Retail Building in Growing Terrell

      NNN leased retail property near major retail destination and mixed-use development.
      214 Market Center Dr, Terrell, TX 75160
      View Details
    • $530,600

      Terrell, TX Improved Land

      15.155 acres of commercial land for sale in Terrell.
      10236 County Road 2326, Terrell, TX 75160
      View Details
    • $1,600,000

      Terrell, TX Bowling Alley Landmark

      Meticulously maintained bowling alley with highway frontage in Terrell, TX.
      2500 W Moore Avenue, Terrell, TX 75160
      View Details

    FAQs

    What type of property is this?
    Land - 5.882 acres of unimproved land suitable for development.
    Where is this land located?
    The property is located at 500 E Grove Street Terrell, TX.
    What is the asking price?
    The asking price for this property is $790,000.
    What are key features of this property?
    This property features: Vacant property ready for development.; Previously approved for truck repair garage.; Favorable location based on coordinates provided.
    (817) 795-2500
    We can help!
    Listing Contact
    Bruce Henderson
    Real Estate License ID: 0619362
    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!