Commercial Land with Highway
For Sale
$449,500
1017 Highway 377, 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 Market8
Property Features for 1017 Highway 377
General Information
Standard status
Active
Size
1,296 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$3,236
Amenities
Electric
3
US Highway.
Building Details
Year Built
1960
Listing Agency:
Texas Homes and Land
Listed By:
Coryann Johnson · License #0450333
(214) 908-5468
Source:
Xome
Added: Aug 30
Changed: Sep 5
Last Checked: Sep 5 at 5:12AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,678
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 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
