Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1304 County Road 115 Whitesboro, TX 76240

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,100,000

    Three custom quadplexes on 40 acres with development potential.

    Lot size:
    40.40 Acres

    Property Features for 1304 County Road 115

    General Information

    Lot size
    40.40 Acres

    Building Details

    Year built
    2021

    We can help!

    Listing Contact
    MISTY SCHMITZ
    Source: Elliman

    Listing Agency: TIERRA REAL ESTATE Listing Agent: MISTY SCHMITZ

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Three Quadplexes on 40 Acres

    This property presents an investment opportunity featuring three custom-built quadplexes. Each unit includes wide plank tile flooring, granite countertops, a full appliance package, and spray foam insulation. The property is set on 40 acres of land, offering potential for future development, including residential lots or RV parking. The land features hilltop views and mature trees. It is located less than a mile from Callisburg High School. This property is located in a rapidly growing area.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Whitesboro
    County
    Grayson
    State
    Texas
    Longitude
    -97.014673
    Latitude
    33.718087

    Nearby Similar for Sale

    • $1,795,000
      3,014 SF

      Whitesboro Ranch Estate with Equestrian Features

      Private ranch estate designed for comfort, entertainment, and equestrian lifestyle.
      993 County Line Rd, Whitesboro, TX 76273
      View Details
    • $819,000
      1,904 SF

      Whitesboro Ranch Ready for Horses

      Equestrian property near town with modern amenities and ample space.
      27403 State Highway 56, Whitesboro, TX 76273
      View Details
    • $2,300,000
      2,439 SF

      Turnkey Equine Property in Whitesboro

      Income-producing ranch with equestrian facilities and commercial opportunities.
      9739 E Us Highway 82, Whitesboro, TX 76273
      View Details
    • $1,890,000
      1,176 SF

      Farm/Ranch with Barndominium in Whitesboro,TX

      40-acre farm/ranch in Whitesboro, TX with barndominium and livestock facilities.
      204 Cr 107, Whitesboro, TX 76273
      View Details
    • $1,890,000
      1,176 SF

      Whitesboro Horse and Livestock Property

      Almost 40-acre property ideal for horses and livestock in Whitesboro.
      204 Cr 107, Whitesboro, TX 76273
      View Details
    • $1,900,000
      2,140 SF

      25-Acre Ranch Ready for Conversion

      25-acre working ranch adaptable for cattle or horse operations.
      4378 Old Town Rd, Whitesboro, TX 76273
      View Details
    • $2,950,000
      5,819 SF

      Texas Ranch with Red Roofs

      63-acre ranch featuring multiple custom homes and equestrian facilities.
      34673 Us Highway 82, Whitesboro, TX 76273
      View Details
    • $3,900,000
      2,235 SF

      Equine Paradise with Dual Residences

      87-acre Whitesboro equine property featuring two identical brick homes.
      777 Stiles Rd, Whitesboro, TX 76273
      View Details
    • $3,595,000
      5,472 SF

      Texas Horse Country Estate

      31.8-acre farm/ranch with luxury home and extensive amenities.
      790 Bones Chapel Rd, Whitesboro, TX 76273
      View Details
    • $1,799,999
      4,490 SF

      Equine Paradise with Two Brick Homes

      23-acre equine paradise featuring two identical brick homes.
      777 Stiles Rd, Whitesboro, TX 76273
      View Details
    • $1,449,000
      1,500 SF

      Whitesboro Equine Facility on 20 Acres

      Premier equestrian facility on 20 acres near Whitesboro, Texas.
      15084 Us Highway 377, Whitesboro, TX 76273
      View Details
    • $1,250,000
      39.90 Acres

      Equestrian Property in Horse Country

      40-acre equestrian property with spacious home and barn.
      27160 State Highway 56, Whitesboro, TX 76273
      View Details

    FAQs

    What type of property is this?
    Quadplex - Three custom quadplexes on 40 acres with development potential.
    Where is this quadplex located?
    The property is located at 1304 County Road 115 Whitesboro, TX.
    What is the asking price?
    The asking price for this property is $4,100,000.
    What are key features of this property?
    This property features: - Three custom-built quadplexes offer immediate rental income potential.; - 40 acres of prime land provide opportunities for future development (residential, RV parking, etc.).; - Each unit features desirable amenities: **wide plank tile flooring, granite countertops, and a full appliance package.**
    Request Owner's contact information
    1304 County Road 115 Whitesboro, TX 76240
    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.
    1304 County Road 115
    Whitesboro, TX 76240
    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
    1304 County Road 115 Whitesboro, TX 76240
    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

    We can help!
    Listing Contact
    MISTY SCHMITZ
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.