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

    509 S Main St McGregor, TX 76657

    Sponsored
    For Sale
    $79,900

    Unimproved Land - McGregor, TX

    Type:Unimproved Land
    Lot size:
    0.25 Acres
    Days on Market:
    139
    Last Refresh:
    Jan 25 at 9:06 pm

    Property Features for 509 S Main St

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    341340000396000
    Lot size
    0.25 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jessica Hurst

    Greater Waco Realty Inc (254) 230-4222

    Listing agent Jessica Hurst (254) 230-4222 License #702342

    Listing date Sep 9, 2025

    MLS# 21055250 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

    Prime Land in McGregor, Texas

    Located on Main Street in McGregor, this lot presents an opportunity for investment or business ventures. The property is suitable for a short-term rental, office building, boutique hotel, or other commercial projects. Essential utilities, including electric, gas, water, and sewer, are available. The lot benefits from visibility and exposure to downtown traffic due to its Main Street frontage. The lot size is 0.25 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Discount Store Garden Center Cafe & Coffee Shop Women's Store Computer & Electronic Repair Barber Shop Home Appliance Store Nursing Home Toy Store Senior Center

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

    Location Insight

    • Map
    • Local Demand
    City
    McGregor
    County
    McLennan
    State
    Texas
    Longitude
    -97.405219
    Latitude
    31.437185

    Nearby Similar for Sale

    • $390,000
      1.36 Acres

      Live-Work Property with Mechanic Shops

      Versatile McGregor property with residence and mechanic shops for sale.
      3725 Old Mcgregor-Crawford Rd, McGregor, TX 76657
      View Details
    • $325,000
      3,000 SF

      McGregor Airport Hangar For Sale

      Premium hangar, loft, simulator room
      27474 Hwy 84-Ph #19 Hwy, McGregor, TX 76657
      View Details
    • $439,000
      5,606 SF

      McGregor Retail Space - Prime Location

      High-Visibility Retail Space, 5606 sq ft
      215 Mcgregor Dr, McGregor, TX 76657
      View Details
    • $549,900
      1,341 SF

      McGregor Commercial Land - Hwy 84

      15.9 Acres, High Visibility, Endless Potential
      31589 Us Hwy 84 Hwy, McGregor, TX 76657
      View Details
    • Contact for pricing
      199.00 Acres

      McGregor Mixed-Use Development Opportunity

      Texas Medical, Retail, & Multifamily
      0 Lorena Rd & Hwy 84, McGregor, TX 76657
      View Details
    • Contact for pricing
      2,862 SF

      McGregor Mixed-Use Investment Opportunity

      Historic Downtown McGregor building, high visibility.
      229 Main St, McGregor, TX 76657
      View Details

    FAQs

    What type of property is this?
    Commercial land - High-visibility lot on Main Street, suitable for various commercial ventures.
    Where is this commercial land located?
    The property is located at 509 S Main St McGregor, TX.
    What is the asking price?
    The asking price for this property is $79,900.
    What are key features of this property?
    This property features: - Prime Main Street location in McGregor with high visibility and traffic.; - Suitable for various commercial uses: short-term rental, office, boutique hotel, etc.; - All essential utilities (electric, gas, water, sewer) are already in place.
    (254) 230-4222
    Request Owner's contact information
    509 S Main St McGregor, TX 76657
    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.
    509 S Main St
    McGregor, TX 76657
    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
    509 S Main St McGregor, TX 76657
    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
    Jessica Hurst
    Real Estate License ID: 702342
    (254) 230-4222
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.