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    Prime Commercial Land with Two Entrances Title is generated by Realmo AI

    1709 State Hwy. 121, Bonham, TX 75418

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    For Sale
    $3,900,000

    LAND - Bonham, TX

    Lot size:
    9.01 Acres
    Added:
    Jul 24, 2025
    Days on Market:
    316
    Last Refresh:
    Jun 4 at 12:06 am

    Property Features for 1709 State Hwy. 121

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded
    Fencing
    Fenced
    Fireplace
    1
    Standard status
    Active
    APN
    000000079778
    Lot size
    9.01 Acres

    Taxes and HOA fees

    Tax Description
    A0727 M MC DONALD, ACRES 9.0059, LIFE ESTATE
    Tax Annual Amount
    10415

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Fireplace(s)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1996

    We can help!

    Listing Contact
    David Cullar

    Listing agent David Cullar License #0438726

    Listing office RE/MAX Visionary Bonham, TX

    Listing date Jul 24, 2025

    MLS# 21009967 Listing URL

    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

    • Approximately 9‑acre property on the main business throughfare in Bonham, TX
    • Two entrances from Business 121
    • Currently zoned for multi‑family; potential to be rezoned for retail or business use subject to city approval
    • Incidental residential home on‑site: 2,400 SF built in 1996
    • Home includes central heating and central air, plus fireplace(s)
    • Utilities available: public water and public sewer

    Overview

    This offering is approximately nine acres of commercial land positioned on a primary business throughfare through Bonham. The property includes two existing entrances from Business 121, providing straightforward access for future development and site circulation. Currently zoned for multi-family, the site may also be re-zoned for retail or other business use, subject to city approval. In addition to the land value, an existing residential home is located on-site and is described as approximately 2,400 square feet, built in 1996; the home is incidental to the parcel value but could potentially generate revenue while the property is held.

    The site’s location places it in close proximity to multiple restaurants, Wal-Mart, and multi-family properties, supporting a tenant and buyer pool that values convenience and visibility. The existing access points from Business 121 can help streamline plans for future uses that require dependable drive-in access.

    For investors and developers, the combination of larger acreage, two curb-cut entries, and multi-family zoning creates near-term flexibility, while the stated potential to re-zone for retail or business use offers a path to higher-and-better use depending on city approvals. The on-site home may also appeal to ownership strategies that benefit from interim income before redevelopment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Bonham
    County
    Fannin
    State
    Texas
    Longitude
    -96.1928006
    Latitude
    33.5899555

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    FAQs

    What type of property is this?
    Commercial land - Nine acres along Bonham’s main business throughfare with two entrances and multi-family zoning ripe for rezoning opportunities.
    Where is this commercial land located?
    The property is located at 1709 State Hwy. 121 Bonham, TX.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: Approximately 9‑acre property on the main business throughfare in Bonham, TX; Two entrances from Business 121; Currently zoned for multi‑family; potential to be rezoned for retail or business use subject to city approval
    (903) 997-3629
    We can help!
    Listing Contact
    David Cullar
    Real Estate License ID: 0438726
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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.

    More about this property
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    1709 State Hwy. 121, Bonham, TX 75418
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