Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Commercial Property in Whitesboro Title is generated by Realmo AI

    510 Locust Street, Whitesboro, TX 76273

    View on Map
    Claim this Listing
    For Lease
    $6,500/Mo $26 SF/Yr (calc)

    Industrial - Whitesboro, TX

    Type:Industrial
    Property size:
    3,000 SF
    Lot size:
    1.00 Acre
    Added:
    Apr 14, 2026
    Days on Market:
    48
    Last Refresh:
    May 31 at 1:06 pm

    Property Features for 510 Locust Street

    General Information

    Property type
    Other
    Property subtype
    Industrial
    Parking features
    Carport, Driveway, Garage
    Standard status
    Active
    APN
    225595
    Size
    3,000 SF
    Lot size
    1.00 Acre

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1998
    Flooring type
    Concrete
    Building materials
    Aluminum Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Kelsey Whitesell
    Kelsey Whitesell

    Listing agent Kelsey Whitesell License #0724414

    Listing office Talley and Company, LTD 717 E Liberty Street Suite 100, Dallas, TX

    Listing date Apr 14, 2026

    MLS# 21238028 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.

    HighLights

    • 3,000 sq ft insulated metal building with climate‑controlled office and mezzanine
    • Large 120' x 52' covered parking area
    • One‑acre fenced gravel lot with dual road access
    • Four 14‑foot roll‑up doors for easy access
    • High visibility location between Gainesville and Sherman, TX
    • Quick access to Highways 82, 377, and 56

    Overview

    This commercial property features a 3,000-square-foot fully insulated metal building. The building includes four 14-foot roll-up doors, two entry doors, a restroom, and a climate-controlled office area with a mezzanine level that can be used for additional storage or workspace. Additionally, the property offers a 120' x 52' covered parking area suitable for equipment, vehicles, or material storage. Situated on one acre of fenced gravel lot, the site provides high visibility and easy access. The property benefits from dual road access. Located in Whitesboro, Texas, between Gainesville and Sherman, it offers quick access to Highways 82, 377, and 56. The property is suitable for commercial, industrial, warehouse, automotive, or service-based use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Stevens Oilfield Services ... Oilfield

    Suggested Use

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

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

    Similar Places Nearby

    • Kramalot Storage Whitesboro — 1205 TX-56, Whitesboro, TX 76273

    Location Insight

    • Map
    • Local Demand
    City
    Whitesboro
    County
    Grayson
    State
    Texas
    Longitude
    -96.895503
    Latitude
    33.651007

    Nearby Similar for Lease

    • $4,250/Mo
      3,600 SF

      Versatile Mixed-Use Commercial Building

      3600 sq ft Whitesboro commercial space for lease.
      110 E Main Street, Whitesboro, TX 76273
      View Details
    • $4,000/Mo

      Whitesboro Industrial Space For Lease

      Industrial space perfect for warehouse, automotive, or retail business.
      816 Main Street, Whitesboro, TX 76273
      View Details
    • $2,325/Mo

      Remodeled Commercial Building in Whitesboro, TX

      Versatile, newly remodeled commercial building with multiple units for lease.
      27790 State Highway 56, Whitesboro, TX 76273
      View Details
    • $2,025/Mo

      Remodeled Commercial Building in Whitesboro

      Versatile, newly remodeled commercial building with multiple units for lease.
      27790 State Highway 56, Whitesboro, TX 76273
      View Details
    • $2,175/Mo
      1,740 SF

      Remodeled Commercial Building in Whitesboro

      Versatile, remodeled commercial building with five units in Whitesboro, Texas.
      27790 State Highway 56, Whitesboro, TX 76273
      View Details
    • $1,725/Mo

      Remodeled Commercial Building in Whitesboro

      Versatile, newly remodeled commercial building with multiple units for lease.
      27790 State Highway 56, Whitesboro, TX 76273
      View Details
    • $6,130/Mo

      Retail Opportunity in Whitesboro, TX

      Retail property in growing Whitesboro, TX, near major highways.
      0000 Us-377-Br, Whitesboro, TX 76273
      View Details
    • $6,500/Mo

      Versatile Industrial Space in Whitesboro

      5,000 sq ft industrial building with office and ample parking.
      23350 US Highway 377, Whitesboro, TX 76273
      View Details
    • $6,500/Mo
      3,000 SF

      Commercial Property with Covered Parking

      3,000 SF insulated building with covered parking on one acre.
      510 Locust Street, Whitesboro, TX 76273
      View Details
    • $200 SF/Yr

      Storage Space in Whitesboro, TX

      Storage units for boats, cars, furniture, and more available.
      409 W Main Street, Whitesboro, TX 76273
      View Details
    • $4,000/Mo
      3,200 SF

      Whitesboro Industrial Space For Lease

      Industrial/warehouse space with office, restroom, and large yard.
      816 Main Street, Whitesboro, TX 76273
      View Details
    • $6,500/Mo
      5,000 SF

      Versatile Industrial Space For Rent

      5,000 sq ft industrial building with office and bathroom.
      23350 Us Highway 377, Whitesboro, TX 76273
      View Details

    FAQs

    What type of property is this?
    Warehouse - Fenced lot with insulated building and covered parking area.
    Where is this warehouse located?
    The property is located at 510 Locust Street Whitesboro, TX.
    What is the lease rate?
    The lease rate is $6,500 /Mo.
    What are key features of this property?
    This property features: 3,000 sq ft insulated metal building with climate‑controlled office and mezzanine; Large 120' x 52' covered parking area; One‑acre fenced gravel lot with dual road access
    (940) 310-6218
    We can help!
    Listing Contact
    Kelsey Whitesell
    Kelsey Whitesell
    Real Estate License ID: 0724414
    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

    Thank You for Inquiry
    510 Locust Street, Whitesboro, TX 76273
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!