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

    Tract 3 FM 2261 Shelbyville, TX 75973

    View on Map
    For Sale
    $275,000

    Land/Acreage - Shelbyville, TX

    Lot size:
    38.00 Acres
    Added:
    May 2, 2025
    Days on Market:
    335
    Last Refresh:
    Apr 1 at 3:06 pm

    Property Features for Tract 3 FM 2261

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    38.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Heather Chambliss
    Heather Chambliss

    Listing agent Heather Chambliss

    Listing office Chambliss Real Estate 203 Hurst St., Suite B, Center, TX

    Listing date May 2, 2025

    MLS# 22500783 Listing URL

    Copyright © 2026 Deep East Texas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Unrestricted Land Near Toledo Bend

    This 38-acre tract features both cleared pasture and marketable timber, bordered by a creek at the rear. The property includes complete fencing, a pond, and electricity. A new water well was installed in March 2026. The land is unrestricted and has public road frontage. It is located in Shelbyville ISD and is 2.7 miles from the East Hamilton Public Boat Ramp for Lake Toledo Bend. The property has deeded access from CR 2261.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Restaurant Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelbyville
    County
    Shelby
    State
    Texas
    Longitude
    -93.979026
    Latitude
    31.623754

    Nearby Similar for Sale

    • $30,000

      Unrestricted Land Near Huxley Bay

      1.15 acres of unrestricted land near Huxley Bay Marina.
      916 CR 2650, Shelbyville, TX 75973
      View Details
    • $359,900

      Secluded Land Ideal for Recreation

      68.17 acres perfect for recreation or private residence in Shelbyville.
      TBD CR 2934, Shelbyville, TX 75973
      View Details
    • $778,700

      Secluded Acreage Near Toledo Bend

      77+ acres near National Forest and Toledo Bend.
      Tbd County Road 2385, Shelbyville, TX 75973
      View Details
    • $459,200

      82 Acres Near Toledo Bend

      82 acres of land near Toledo Bend Lake.
      000 County Road, Shelbyville, TX 75973
      View Details
    • $29,400

      Secluded Timbered Tract Near Huxley

      2.94-acre timbered tract near Toledo Bend Lake.
      TBD Whooping Crane Road, Shelbyville, TX 75973
      View Details
    • $18,000

      Huxley Bay Marina Land Parcel

      0.557-acre lot near Huxley Bay Marina, Toledo Bend Lake.
      TBD FM 2694, Shelbyville, TX 75973
      View Details
    • $29,400

      Secluded Timbered Land Near Huxley

      2.94-acre timbered tract near Toledo Bend Lake.
      TBD Whooping Crane Road, Shelbyville, TX 75973
      View Details
    • $459,250

      83.5 Acres Bordering National Forest

      83.5 acres in Shelbyville, TX, bordering Sabine National Forest.
      TBD CR 2798, Shelbyville, TX 75973
      View Details
    • $240,635

      Huxley Wooded Acreage Near Toledo Bend

      29+ acres near Toledo Bend Lake, ideal for recreation.
      TBD FM 3172, Shelbyville, TX 75973
      View Details
    • $15,000

      Unrestricted Lot Near Lake Toledo

      Unrestricted 1.15 acre lot near Lake Toledo Bend.
      TBD CR 2650, Shelbyville, TX 75973
      View Details
    • $29,400

      Shelbyville Timbered Land Near Lake

      2.94-acre timbered tract near Toledo Bend Lake.
      TBD Whooping Crane Road, Shelbyville, TX 75973
      View Details
    • $19,500

      Shelbyville Land Near Lake

      0.578 acre land near lake, perfect for summer fun.
      564 CR 2707, Shelbyville, TX 75973
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 38 acres of pasture and timber near Lake Toledo Bend.
    Where is this agricultural land / farmland located?
    The property is located at Tract 3 FM 2261 Shelbyville, TX.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: Unrestricted acreage featuring cleared pasture, marketable timber, and a creek boundary.; New water well installed in March 2026.; Complete fencing and a nice pond.
    (936) 591-1196
    We can help!
    Listing Contact
    Heather Chambliss
    Heather Chambliss
    Real Estate License ID: 0696230
    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!