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    Unrestricted 10-Acre Commercial Land Title is generated by Realmo AI

    12153 Mustang Road, Pilot Point, TX 76258

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    Claim this Listing
    For Sale
    $5,227,200

    LAND - Pilot Point, TX

    Lot size:
    10.00 Acres
    Added:
    Jan 19, 2026
    Days on Market:
    135
    Last Refresh:
    Jun 3 at 1:06 pm

    Property Features for 12153 Mustang Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Garage, Covered, Driveway
    Standard status
    Active
    APN
    R112225
    Lot size
    10.00 Acres

    Taxes and HOA fees

    Tax Description
    A1329A I WALTERS, TR 38 & TR 39 Old DCAD
    Tax Annual Amount
    4549

    Utilities

    Sewer type
    Aerobic Septic
    Heating system
    Natural Gas, Central, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    2000
    Floors in Building
    1
    Number of units
    2
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Coryann Johnson
    Coryann Johnson

    Listing agent Coryann Johnson License #0450333

    Listing office Texas Homes and Land Celina, TX

    Listing date Jan 19, 2026

    MLS# 20957404

    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.

    HighLights

    • 10 unrestricted acres on a high‑traffic corridor between FM 1385 and FM 2931, split into two 5‑acre tracts
    • Unzoned and unrestricted in the county, offering flexibility for a range of commercial uses
    • Each 5‑acre tract includes an existing home, suitable for temporary office space, rental income, or redevelopment
    • Utilities include public water and aerobic septic
    • Homes built in 2000 with brick construction and a composition roof
    • Homes feature central heating/central air (plus ceiling fans) and offer driveway, garage, and covered parking

    Overview

    Set on 10 unrestricted acres, this property is offered as two 5-acre tracts and includes an existing home on each tract. The homes can serve as temporary office space, while the tracts may be developed for commercial uses, storage, or redevelopment. The property is presented as unzoned and unrestricted in the county, offering broad flexibility for buyers and operators evaluating multiple development paths.

    Strategically located between FM 1385 and FM 2931 along a high-traffic corridor, the site benefits from strong visibility and straightforward access in an area with rapid surrounding development. The listing also notes that the property sits in front of a future 350-acre residential development, supporting long-term demand considerations for retailers, industrial users, and service-based businesses.

    With its size, frontage exposure, and the ability to monetize while planning, this site is well-suited for investors and developers seeking flexible, income-capable land. Whether your goal is a more immediate interim setup using the existing homes or a long-term commercial build-out, the unzoned configuration and corridor placement provide practical options for a variety of growth-oriented concepts.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Pilot Point
    County
    Denton
    State
    Texas
    Longitude
    -96.9223599
    Latitude
    33.3218153

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    FAQs

    What type of property is this?
    Commercial land - 10 unrestricted acres on a high-traffic corridor with flexibility for a range of commercial and service uses.
    Where is this commercial land located?
    The property is located at 12153 Mustang Road Pilot Point, TX.
    What is the asking price?
    The asking price for this property is $5,227,200.
    What are key features of this property?
    This property features: 10 unrestricted acres on a high‑traffic corridor between FM 1385 and FM 2931, split into two 5‑acre tracts; Unzoned and unrestricted in the county, offering flexibility for a range of commercial uses; Each 5‑acre tract includes an existing home, suitable for temporary office space, rental income, or redevelopment
    (214) 908-5468
    We can help!
    Listing Contact
    Coryann Johnson
    Coryann Johnson
    Real Estate License ID: 0450333
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    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.

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