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

    Hwy 287 and Hwy 114 Merger 1.15 Acres Rhome, TX 76078

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land available for sale.

    Type:Land, Retail
    Added:
    Mar 25, 2024
    Days on Market:
    762
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for Hwy 287 and Hwy 114 Merger 1.15 Acres

    General Information

    Standard status
    Active
    Property subtype
    Land, Retail

    We can help!

    Listing Contact
    Derek Anthony

    Listing agent Derek Anthony License #TX 677154

    Listing office Waypoint Real Estate Development & Advisors

    Listing date Mar 25, 2024

    Source Crexi

    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 Waypoint Real Estate Development & Advisors

    Overview

    Land For Sale

    This property is a 1.15-acre land parcel available for sale. It is located at the merger of Highway 287 and Highway 114 in Rhome, Texas.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Rhome
    County
    Wise
    State
    Texas
    Longitude
    -97.45
    Latitude
    33.0495

    Nearby Similar for Sale

    • $487,000
      3,220 SF

      Rhome Retail Space For Sale

      Retail-zoned property in growing Rhome, TX, with development options.
      199 N Main Street, Rhome, TX 76078
      View Details
    • $999,900
      3,497 SF

      Custom Ranch with Insulated Barn

      Custom ranch on 5 acres with barn and guest suite.
      213 Audra Circle, Rhome, TX 76078
      View Details
    • $189,000

      2 Acre Lot in Rhome

      2 acre lot with utilities and scenic views.
      234 Private Road 4441, Rhome, TX 76078
      View Details
    • $1,750,000

      76 Acres Development Opportunity, Rhome

      76+ acre development opportunity in rapidly growing Wise County.
      0 PR 4728, Rhome, TX 76078
      View Details
    • $275,000

      Rhome Ranch with Two Barns

      5.021 acre Rhome ranch featuring two barns.
      Tbd Hidden Meadow Court, Rhome, TX 76078
      View Details
    • $6,250,000

      Unimproved Land Near Highway 287

      204 acres of land with highway frontage in Rhome, TX.
      Tbd Hwy 287 Highway S, Rhome, TX 76078
      View Details
    • $45,000

      Residential Land in Rhome, TX

      Flat lot with mature trees, ideal for building a home.
      101 S Front Street, Rhome, TX 76078
      View Details
    • Contact for pricing

      Historic Gristmill in Growing Area

      Commercial opportunity in Rhome's exploding growth area near major developments.
      331 Old Mill Rd, Rhome, TX 76078
      View Details
    • $8,480,800

      Land For Sale in Rhome

      Land available in Wise County, Texas.
      000 County Road 4733, Rhome, TX 76078
      View Details
    • $525,000

      Land in Growing Rhome Market

      6.77 acres in growing market with utilities available.
      139 Cr-4713, Rhome, TX 76078
      View Details
    • Contact for pricing

      Rhome Acreage Near Transportation Hubs

      136 acres near DFW and Alliance Airports, BNSF Intermodal.
      Highway 114 Road, Rhome, TX 76078
      View Details
    • $7,162,350

      183.65 Acres Divisible Land

      183.65 acres of divisible land with utilities.
      2449 Co Rd 4421, Rhome, TX
      View Details

    FAQs

    What type of property is this?
    Land - Land available for sale.
    Where is this land located?
    The property is located at Hwy 287 and Hwy 114 Merger 1.15 Acres Rhome, TX.
    What is the asking price?
    The asking price for this property is $2,450,000.
    What are key features of this property?
    This property features: No property information was provided to extract selling points.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Derek Anthony
    Real Estate License ID: TX 677154
    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!