Commercial Land with Highway
For Sale
$449,500
1017 Highway 377 N, Whitesboro, TX 76273
Existing improvements include a three-bedroom, two-bath home with a garage, parking area, city water, and electricity.
Property Size1,296 SF
Price / SF$346.84
Days on Market50
Property Features for 1017 Highway 377 N
General Information
Standard status
Active
Size
1,296 SF
Property subtype
Office
Building Details
Year Built
1960
Listing Agency:
Texas Homes and Land
(214) 908-5468
Listed By:
Coryann Johnson · License #0450333
(903) 870-6956
Source:
Lonestarluxuryrealty
Added: Sep 4
Changed: Oct 16
Last Checked: Oct 23 at 10:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Texas Homes and Land
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Investment Insights
Based on property information with market context.
This approximately 0.54-acre commercial land parcel at 1017 Highway 377 includes an existing 1,296-square-foot home built in 1960. The residence has three bedrooms and two bathrooms, providing an established improvement on the site. A two-car garage and parking area are also included, along with city water and electricity.
The property fronts Highway 377 just north of Whitesboro, placing it along a North Texas roadway with direct highway access. Its location near Whitesboro and surrounding communities provides an identifiable regional setting for future planning. The existing structures and utility connections give the parcel a developed starting point, while buyers should verify zoning, permitted uses, utilities, and applicable commercial development requirements with the appropriate authorities.
The property fronts Highway 377 just north of Whitesboro, placing it along a North Texas roadway with direct highway access. Its location near Whitesboro and surrounding communities provides an identifiable regional setting for future planning. The existing structures and utility connections give the parcel a developed starting point, while buyers should verify zoning, permitted uses, utilities, and applicable commercial development requirements with the appropriate authorities.
Key Highlights
- Approximately 0.54 acres with frontage on Highway 377
- 1,296‑square‑foot home built in 1960
- Three‑bedroom, two‑bath residential improvement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,678
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$433,560
$433.6K
Cap Rate 7%
$309,686
$309.7K
Cap Rate 9%
$240,867
$240.9K
Market Conditions
NOI Build-Up for 1,296 SF
Gross rent
$39.8K $30.72/SF
− Vacancy
−$10.9K −$8.42/SF
EGI
$28.9K $22.30/SF
− OpEx
−$7.2K −$5.58/SF
NOI
$21.7K $16.73/SF
Area
Grayson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$433,560
Cap Rate 7%
$309,686
Cap Rate 9%
$240,867
Alternative Uses
Best Use
Office B
$309.7K
$271.0K – $361.3K
NOI $21,678 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$664.8K
$581.7K – $775.7K
NOI $46,539 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
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Business Placement
Demographics for 76273, TX
9,857
Population
4,182
Households
2.4
Avg Household Size
43
Median Age
20%
College-Educated
92%
High-School Grad
206.9 sq mi
ZIP Area
48
Density / Sq Mi
$80,244
Median Household Income
$41,441
Median Earnings
$1,171
Median Rent
$234,400
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Commercial land - Existing improvements include a three-bedroom, two-bath home with a garage, parking area, city water, and electricity.
Where is this commercial land located?
The property is located at 1017 Highway 377 N Whitesboro, TX.
What is the asking price?
The asking price for this property is $449,500.
What are key features of this property?
This property features: Approximately 0.54 acres with frontage on Highway 377; 1,296‑square‑foot home built in 1960; Three‑bedroom, two‑bath residential improvement
