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

    Gillespie Palestine, TX 75801

    View on Map
    Claim this Listing
    New
    For Sale
    $149,000

    LAND - PALESTINE, TX

    Lot size:
    1.30 Acres
    Added:
    Apr 29, 2026
    Days on Market:
    6
    Last Refresh:
    May 4 at 7:06 am

    Property Features for Gillespie

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Potential Commercial
    Standard status
    Active
    Lot size
    1.30 Acres

    Taxes and HOA fees

    Tax Description
    A004; Arthur, John; Block 881; Tract 25 & 27; 1.3 acres to be surveyed out of 2.739
    Tax Annual Amount
    2022

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Samantha Bradford
    Samantha Bradford

    Listing agent Samantha Bradford License #TREC 538552

    Listing office Hibbard Real Estate 301 E Palestine Ave, TX

    Listing date Apr 29, 2026

    MLS# 103304 Listing URL

    Copyright © 2026 Palestine 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.

    Overview

    Cleared Land Near Loop 256

    This is an opportunity to own approximately 1.3 acres of land, subject to survey, situated in a rapidly developing area of Palestine, Texas. The property's zoning offers mixed residential and commercial potential. Its location provides close proximity to high-traffic areas on Loop 256. The tract is cleared and leveled, offering accessibility suitable for various development opportunities, including medical facilities, multi-family structures, or residential expansion. Utilities are available to the site.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Palestine
    County
    Anderson
    State
    Texas
    Longitude
    -95.625294
    Latitude
    31.740089

    Nearby Similar for Sale

    • $350,000

      Established Restaurant & Commercial Space

      Prime investment opportunity in Palestine, Texas.
      1907 W Oak Street, Palestine, TX 75801
      View Details
    • $359,000

      Medical/Professional Office Space Available

      Prime location near hospital, ideal for medical or wellness practices.
      123 Medical Dr, Palestine, TX 75801
      View Details
    • $274,900
      3,888 SF

      Versatile Commercial Property in Palestine, TX

      Adaptable commercial space on one acre in a convenient location.
      2000 E Murchison St, Palestine, TX 75801
      View Details
    • $199,999

      Former Church Building Opportunity

      Adaptable space ideal for various ventures in Palestine, Texas.
      139 An County Road 389, Palestine, TX 75801
      View Details
    • $99,000

      Versatile Commercial Property on Palestine Avenue

      Commercial property with offices and warehouse space on 0.48 acres.
      1701 W Palestine Avenue, Palestine, TX 75801
      View Details
    • $498,500

      Prime Commercial Land in Palestine, TX

      2.795-acre commercial property with high visibility and development potential.
      1801 N Queen St, Palestine, TX 75803
      View Details
    • $650,000

      Palestine Auditorium on Commercial Acres

      Large auditorium with commercial land in high-traffic location.
      1819 W Spring St, Palestine, TX 75801
      View Details
    • $675,500

      Cleared Land Ready For Development

      5.26 acre commercial land parcel ready for development.
      2228 Crockett Road, Palestine, TX 75801
      View Details
    • $499,900

      Land in Rural Palestine, TX

      Commercial land with income potential in a peaceful, rural setting.
      491 AN County Road 432, Palestine, TX 75803
      View Details
    • $1,350,000
      3,324 SF

      Palestine Multifamily Investment Opportunity

      8+ acres with multiple residences and income potential.
      3091 FM 322, PALESTINE, TX 75801
      View Details
    • $499,900

      Palestine, TX Investment Opportunity

      Property with income potential in a peaceful, rural setting.
      491 An County Road 432, Palestine, TX 75803
      View Details
    • $335,000

      Commercial Acreage on US Highway

      27 acres with high visibility and development potential.
      5210 S US Hwy 79, Palestine, TX 75803
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.3 acre cleared, level land with development potential.
    Where is this commercial land located?
    The property is located at Gillespie Palestine, TX.
    What is the asking price?
    The asking price for this property is $149,000.
    What are key features of this property?
    This property features: 1.3 Acres in rapidly growing Palestine, TX; Mixed residential/commercial zoning potential; Close proximity to high traffic on Loop 256
    (903) 394-9461
    We can help!
    Listing Contact
    Samantha Bradford
    Samantha Bradford
    Real Estate License ID: TREC 538552
    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

    Thank You for Inquiry

    Gillespie, PALESTINE, TX 75801

    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!