Commercial Land with Open-Span
For Sale
$425,000
6248 Whitehurst Drive, Longview, TX 75602
LAND, Longview, TX
Property Size5,500 SF
Lot Size26.23 Acres
Price / SF$77.27
Days on Market133
Property Features for 6248 Whitehurst Drive
General Information
Property type
Land
Property subtype
Other
Fencing
Cross Fenced, Fenced
Lot features
Creek, Partially Wooded, Pond
Elementary school district
Hallsville
Middle school district
Hallsville
High school district
Hallsville
Directions
From the intersection of East Loop 281 and IH-20 take Whitehurst Dr to the East for approx. 1 mile. Property on the Right.
Subdivision
HALLSVILLE ISD 223
Standard status
Active
Lot size
26.23 Acres
Taxes and HOA fees
Tax Annual Amount
307
Listing Agency:
Nolan Properties LLC
(903) 738-5636
Listed By:
Scott Nolan · License #TEXAS664513
(903) 297-4302
Added: Apr 29
Changed: Sep 6
Last Checked: Sep 8 at 2:06AM
MLS# 20263053
Copyright © 2026 Longview Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial land holding includes a 5,500-square-foot open-span shop with office space, cattle pens, and several additional barns and buildings. The tract is cross-fenced and fenced, with a creek crossing the property and a small stocked lake with a pier. These existing improvements and site features provide a varied physical setting for the property’s stated commercial, agricultural, residential, investment, or future development uses.
The property is located on Whitehurst Drive in Longview, Texas, just east of Loop 281 and IH-20. Approximately 1,300 feet of frontage along IH-20 supports direct exposure to the interstate corridor, while the location provides access to the surrounding Longview area. The combination of commercial land, existing structures, fencing, water features, and interstate frontage creates a substantial multi-use property with both improved and open areas.
The property is located on Whitehurst Drive in Longview, Texas, just east of Loop 281 and IH-20. Approximately 1,300 feet of frontage along IH-20 supports direct exposure to the interstate corridor, while the location provides access to the surrounding Longview area. The combination of commercial land, existing structures, fencing, water features, and interstate frontage creates a substantial multi-use property with both improved and open areas.
Key Highlights
- Approximately 1,300 feet of IH‑20 frontage
- 5,500‑square‑foot open‑span shop with office space
- Creek, small stocked lake, and pier on the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,012
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$780,240
$780.2K
Cap Rate 7%
$557,314
$557.3K
Cap Rate 9%
$433,467
$433.5K
Market Conditions
NOI Build-Up for 5,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$50.2K $9.12/SF
− Vacancy
−$4.3K −$0.78/SF
EGI
$45.9K $8.34/SF
− OpEx
−$6.9K −$1.25/SF
NOI
$39.0K $7.09/SF
Area
Gregg County, TX
Vacancy
8.50%
Lease Rate
$9.12 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$780,240
Cap Rate 7%
$557,314
Cap Rate 9%
$433,467
Alternative Uses
Best Use
Warehouse
$557.3K
$487.7K – $650.2K
NOI $39,012 @ 7.0% cap · market cap 9.18%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$4.14M
$3.62M – $4.83M
NOI $289,988 @ 7.0% cap · market cap 68.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Explore this area
Business Placement
Demographics for 75602, TX
22,041
Population
8,131
Households
2.7
Avg Household Size
33
Median Age
14%
College-Educated
79%
High-School Grad
51.9 sq mi
ZIP Area
425
Density / Sq Mi
$56,659
Median Household Income
$30,199
Median Earnings
$970
Median Rent
$122,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Multi-use acreage with an existing shop, office space, fenced areas, water features, and access from Whitehurst Drive.
Where is this commercial land located?
The property is located at 6248 Whitehurst Drive Longview, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Approximately 1,300 feet of IH‑20 frontage; 5,500‑square‑foot open‑span shop with office space; Creek, small stocked lake, and pier on the property
