Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    724 E Hughes Street Collinsville, TX 76233

    View on Map
    For Sale
    $399,000

    Unimproved Land - Collinsville, TX

    Type:Unimproved Land
    Lot size:
    1.26 Acres
    Added:
    Feb 20, 2026
    Days on Market:
    40
    Last Refresh:
    Apr 1 at 3:06 pm

    Property Features for 724 E Hughes Street

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    138960
    Lot size
    1.26 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jason Danford
    Jason Danford

    Listing agent Jason Danford License #0705631

    Listing office Great Western Realty 6275 W Plano Parkway Suite 500, Plano, TX

    Listing date Feb 20, 2026

    MLS# 21122112 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

    Residential Lots Development Opportunity

    This property presents a development opportunity in Collinsville, Texas. The land is approved for the construction of 5 residential lots. Approvals, plans, and survey have been completed. The property is located near schools, shopping, and the North Texas corridor. The lot size is 1.263 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Auto Repair Shop Gym & Fitness Center Department Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Collinsville
    County
    Grayson
    State
    Texas
    Longitude
    -96.903145
    Latitude
    33.559348

    Nearby Similar for Sale

    • $2,799,000
      3,967 SF

      Turnkey Horse Property in Collinsville

      Equestrian estate on 55.41 acres with extensive horse facilities.
      1717 Batey Road, Collinsville, TX 76233
      View Details
    • $1,999,999
      3,967 SF

      Turnkey Horse Property in Collinsville

      Equestrian estate on 27 acres with extensive horse facilities.
      1717 1/2 Batey Road, Collinsville, TX 76233
      View Details
    • $375,000

      Versatile Land with Solar Potential

      10 acre tract with hangar and solar panels near Dallas.
      1881 Cobler Road, Collinsville, TX 76233
      View Details
    • $8,000,000

      Turnkey Ranch Retreat Near Dallas

      232-acre ranch with residence, barn, ponds, and abundant wildlife.
      1210 County Road 232, Collinsville, TX 76233
      View Details
    • $425,000

      Residential Land in Gated Development

      11 acre lot in Collinsville, perfect for a dream home.
      75 Ribbonwood Trail, Collinsville, TX 76233
      View Details
    • $400,000

      Commercial Land in Collinsville, TX

      High-visibility commercial land for development or investment in Collinsville, TX.
      Tbd N Main Street, Collinsville, TX 76233
      View Details
    • $1,620,272

      Development Land with Highway Access

      31.01 acres ready for development in Collinsville, Texas.
      1801 Us-377, Collinsville, TX 76233
      View Details
    • $895,000

      23 Acre Collinsville Land Tract

      Well-maintained, AG exempt land near Lake Ray Roberts.
      2826 County Road 215, Collinsville, TX 76233
      View Details
    • $2,112,500

      65 Acres in Collinsville, TX

      Improved land ready for livestock or development in Collinsville, TX.
      1111 County Road 243, Collinsville, TX 76233
      View Details
    • $2,900,000

      Gorgeous Land Near Lake Ray

      62.76 acres with mature oaks and three ponds near lake.
      Tract 2 Hog Town Road, Collinsville, TX 76233
      View Details
    • $2,400,000

      62 Acres of Texas Land

      62-acre tract with ponds and mature trees near Highway 377.
      Tract 1 Hog Town Road, Collinsville, TX 76233
      View Details
    • $100,000

      One Acre Lot in Collinsville

      One-acre lot with water meter and gravel driveway installed.
      1709 Dawkins Road, Collinsville, TX 76233
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Approved residential lots for development in Collinsville, Texas.
    Where is this residential land & home lot located?
    The property is located at 724 E Hughes Street Collinsville, TX.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Shovel‑ready property fully approved for 5 residential lots.; City approvals, full plans, and survey already completed.; Great location near schools and shopping.
    (817) 689-2888
    We can help!
    Listing Contact
    Jason Danford
    Jason Danford
    Real Estate License ID: 0705631
    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!