Add Listing
    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

    Tbd Mcilrath Road Leonard, TX 75452

    View on Map
    Picture of Land at Tbd Mcilrath Road, Leonard, TX
    For Sale
    $75,000

    Unimproved Land - Leonard, TX

    Type:Unimproved Land
    Lot size:
    1.10 Acres
    Added:
    Sep 9, 2025
    Days on Market:
    206
    Last Refresh:
    Apr 2 at 5:06 am

    Property Features for Tbd Mcilrath Road

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    000000128016
    Lot size
    1.10 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Ashley Hammons
    Ashley Hammons

    Listing agent Ashley Hammons License #0615230

    Listing office AT Home Texas Real Estate 7902 Traders Cir Ste A, GREENVILLE, TX

    Listing date Sep 9, 2025

    MLS# 21055270 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 Lot in Leonard, TX

    This residential lot, located on McIlrath Rd in Leonard, TX, offers a country feel. The property features level terrain, available utilities, and paved road access. It presents an excellent opportunity for building a single-family home within a quiet, established area. The lot size is approximately 1.1 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Leonard
    County
    Fannin
    State
    Texas
    Longitude
    -96.1653781
    Latitude
    33.4409481

    Nearby Similar for Sale

    • $2,399,000
      7,900 SF

      Premier Event & Wedding Venue

      Thriving venue on nearly 15 acres with expansion potential.
      792 County Road 4945, Leonard, TX 75452
      View Details
    • $190,000

      Historic Retail Building in Leonard

      Antique building on historic square, ideal for retail.
      114 W Collin Street, Leonard, TX 75452
      View Details
    • $885,000
      2,400 SF

      Leonard TX Ranch with Barndominium

      Ranch property featuring a barndominium on over 12 acres.
      1050 County Road 5025, Leonard, TX 75452
      View Details
    • $624,999
      2,118 SF

      Leonard TX Farm and Ranch

      17+ acres with upgraded home near future Lake Ralph Hall.
      7939 S State Highway 78, Leonard, TX 75452
      View Details
    • $999,900

      32 Acres with No Restrictions

      32 acres featuring a 2-bedroom home, barn, and ponds.
      2 County Road 4725, Leonard, TX 75452
      View Details
    • $999,900

      32 Acres in Leonard, TX

      32 acres with a 2-bedroom home and large barn.
      0 County Road 4725, Leonard, TX 75452
      View Details
    • $455,000

      Unzoned Land on Highway 78

      5.1 acres of unzoned land with highway access and water.
      20336 S State Highway 78, Leonard, TX 75452
      View Details
    • $3,000,000

      Turnkey Event Venue on 32 Acres

      Elegant event venue with living space on 32 acres.
      5262 Fm 896, Leonard, TX 75490
      View Details
    • $144,999

      6-Acre Tract in Leonard, TX

      6-acre tract suitable for hobby farm or country living.
      1708 County Road 4850, Leonard, TX 75452
      View Details
    • $650,000
      4,755 SF

      Established Restaurant in Leonard, Texas

      Restaurant for sale in Leonard, TX with prime location.
      701 N Crossroads, Leonard, TX 75452
      View Details
    • $548,592

      Land on State Hwy 78

      16+ acres on State Hwy 78 in Trenton near Leonard.
      20875 Tx-78, Leonard, TX 75452
      View Details
    • $42,500

      Cleared Corner Lot in Leonard

      Cleared corner lot with utilities ready for development in Leonard.
      404 E Grayson Street, Leonard, TX 75452
      View Details

    FAQs

    What type of property is this?
    Land - Residential lot with utilities available in an established area.
    Where is this land located?
    The property is located at Tbd Mcilrath Road Leonard, TX.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: Opportunity to build a single‑family home on this desirable lot.; Level terrain makes construction easier.; Utilities available for convenient hookup.
    (903) 454-2824
    We can help!
    Listing Contact
    Ashley Hammons
    Ashley Hammons
    Real Estate License ID: 0615230
    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!