Agricultural Tract with Heated & Cooled
For Sale
$379,900
1184 Fm-816 - Lot 3, Wolfe City, TX 75496
LAND - Wolfe City, TX
Property Size2,400 SF
Lot Size17.77 Acres
Price / SF$158.29
Days on Market47
Property Features for 1184 Fm-816 - Lot 3
General Information
Property type
Land
Property subtype
Other
Subdivision
MC Pherson
Lot features
Acreage, Agricultural
Elementary school
Evans
Middle school
Rather
High school
Bonham
Elementary school district
Bonham ISD
Middle school district
Bonham ISD
High school district
Bonham ISD
Directions
Off 1184 FM-816 - Lot 2
Standard status
Active
APN
000000080772
Lot size
17.77 Acres
Taxes and HOA fees
Tax Description
A0819 W MC PHERSON, ACRES 56.0
Tax Annual Amount
3966
Legal Description
A0819 W MC PHERSON, ACRES 56.0
Building Details
Year built
2019
Listing Agency:
Faris & Co Realty
(972) 816-9569
Listed By:
Zach Faris · License #0691730
(972) 816-9569
Added: Jun 20
Changed: Jul 31
Last Checked: Aug 5 at 6:06AM
MLS# 21307516
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.
Investment Insights
Based on property information with market context.
Agricultural tract offering 17.771 acres at 1184 FM-816, Lot 3, in Wolfe City, TX (Fannin County). A main 2,400-square-foot building is fully heated and cooled and was constructed in 2019. The building includes 480 square feet of office space and features dark siding and a front porch spanning the width of the structure.
An additional 1,800-square-foot multi-use covered area provides flexible space for outdoor activities or extra storage. The property includes landscaping with trees lining a seasonal creek, two tanks, and a rock path that leads partway to the structures. Utilities are available to support development.
For practical access, the property is located just minutes off Highway 121 and is about 35 minutes from McKinney. Light deed restrictions are noted, supporting a mix of country living with on-site improvements.
An additional 1,800-square-foot multi-use covered area provides flexible space for outdoor activities or extra storage. The property includes landscaping with trees lining a seasonal creek, two tanks, and a rock path that leads partway to the structures. Utilities are available to support development.
For practical access, the property is located just minutes off Highway 121 and is about 35 minutes from McKinney. Light deed restrictions are noted, supporting a mix of country living with on-site improvements.
Key Highlights
- 17.771‑acre agricultural tract at 1184 FM‑816, Lot 3, Wolfe City, TX 75496
- Main 2,400‑square‑foot heated and cooled building constructed in 2019
- 480‑square‑foot office space inside the main building
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.7k | $21.96 |
| − Vacancy | −$12.1k | −$5.05 |
| EGI | $40.6k | $16.91 |
| − OpEx | −$10.1k | −$4.23 |
| NOI | $30.4k | $12.68 |
2,400 SF · lease $21.96/SF/yr · vacancy 23.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$434.8K
$380.5K – $507.3K
NOI $30,437 @ 7.0% cap · market cap 8.01%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$2.38M
$2.09M – $2.78M
NOI $166,935 @ 7.0% cap · market cap 43.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
480
Office units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 75496, TX
3,438
Population
1,234
Households
2.8
Avg Household Size
43
Median Age
20%
College-Educated
87%
High-School Grad
117.0 sq mi
ZIP Area
29
Density / Sq Mi
$77,569
Median Household Income
$42,122
Median Earnings
$900
Median Rent
$172,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Agricultural land / Farmland - Agricultural acreage with utilities available and a fully heated and cooled building plus a covered multi-use area.
Where is this agricultural land / farmland located?
The property is located at 1184 Fm-816 - Lot 3 Wolfe City, TX.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 17.771‑acre agricultural tract at 1184 FM‑816, Lot 3, Wolfe City, TX 75496; Main 2,400‑square‑foot heated and cooled building constructed in 2019; 480‑square‑foot office space inside the main building
