Mixed-Use Event
For Sale
$1,599,900
12900 Fm 121, Van Alstyne, TX 75495
A residence, event space, and leased pool house sit on unrestricted acreage with a private pond and outdoor amenities.
Property Size8,454 SF
Lot Size3.90 Acres
Price / SF$189.25
Days on Market105
Property Features for 12900 Fm 121
General Information
Standard status
Active
Size
8,454 SF
Lot size
3.90 Acres
Property subtype
Commercial
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
gunite pool
hot tub
gazebo
private bass-stocked pond
outdoor kitchen
game room with wet bar
chef's kitchen
Building Details
Year Built
2000
Listing Agency:
Property Rights Advocacy Group
Listed By:
Jenna Harris · License #0629804
(817) 476-0094
Source:
Realestatestation
Added: Jun 24
Changed: Oct 4
Last Checked: Oct 5 at 7:21PM
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 Property Rights Advocacy Group
Investment Insights
Based on property information with market context.
Set on 3.9 unrestricted acres, the property combines a main residence, a separate event building, a get-ready tiny house, and a pool house. The ~6,000 SF residence has 6 bedrooms, 3.5 bathrooms, two primary suites, a kitchen, and a game room with wet bar. The ~1,800 SF venue includes a kitchen, bathrooms, and an outdoor kitchen. The pool house has 1 bedroom, a full kitchen, a bathroom, and a 1-car garage; it is leased month-to-month. The grounds also feature a gunite pool, hot tub, gazebo, and bass-stocked pond.
The property has operated as a wedding and event venue with short-term-rental accommodations. Improvements include a piered foundation completed in 2023 with a warranty, a roof approximately 2.5 years old, and newer HVAC. The property is in Van Alstyne ISD, whose schools are described as A-rated in the source information.
The property has operated as a wedding and event venue with short-term-rental accommodations. Improvements include a piered foundation completed in 2023 with a warranty, a roof approximately 2.5 years old, and newer HVAC. The property is in Van Alstyne ISD, whose schools are described as A-rated in the source information.
Key Highlights
- 3.9 unrestricted acres with a private bass‑stocked pond
- ~6,000 SF main residence with 6 beds, 3.5 baths, dual primary suites, and a game room with wet bar
- ~1,800 SF event building with kitchen, bathrooms, and outdoor kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,695
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,673,900
$1.7M
Cap Rate 7%
$1,195,643
$1.2M
Cap Rate 9%
$929,944
$929.9K
Market Conditions
NOI Build-Up for 8,454 SF
Gross rent
$152.2K $18.00/SF
− Vacancy
−$18.3K −$2.16/SF
EGI
$133.9K $15.84/SF
− OpEx
−$50.2K −$5.94/SF
NOI
$83.7K $9.90/SF
Area
Grayson County, TX
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,673,900
Cap Rate 7%
$1,195,643
Cap Rate 9%
$929,944
Alternative Uses
Best Use
Mixed Use
$1.20M
$1.05M – $1.39M
NOI $83,695 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$820.7K
$718.1K – $957.5K
NOI $57,448 @ 7.0% cap · market cap 3.59%
Theoretical Best
Hotel Hospitality
$4.34M
$3.79M – $5.06M
NOI $303,583 @ 7.0% cap · market cap 18.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 75495, TX
9,061
Population
4,082
Households
2.2
Avg Household Size
40
Median Age
39%
College-Educated
94%
High-School Grad
67.7 sq mi
ZIP Area
134
Density / Sq Mi
$105,520
Median Household Income
$49,603
Median Earnings
$1,239
Median Rent
$353,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A residence, event space, and leased pool house sit on unrestricted acreage with a private pond and outdoor amenities.
Where is this mixed-use property located?
The property is located at 12900 Fm 121 Van Alstyne, TX.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: 3.9 unrestricted acres with a private bass‑stocked pond; ~6,000 SF main residence with 6 beds, 3.5 baths, dual primary suites, and a game room with wet bar; ~1,800 SF event building with kitchen, bathrooms, and outdoor kitchen
