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    Development Land with Existing Improvements Title is generated by Realmo AI

    19966 Fm 740, Forney, TX 75126

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    Claim this Listing
    For Sale
    Under Contract
    $3,350,000

    LAND - Forney, TX

    Lot size:
    31.64 Acres
    Added:
    Apr 17, 2026
    Days on Market:
    48
    Last Refresh:
    Jun 3 at 8:06 am

    Property Features for 19966 Fm 740

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Driveway, Garage, Open
    Standard status
    Active Under Contract
    APN
    5700
    Lot size
    31.64 Acres

    Taxes and HOA fees

    Tax Description
    M FERGUSON, 0.5 ACRES, LIFE ESTATE RESERVED B
    Tax Annual Amount
    6940

    Utilities

    Sewer type
    Aerobic Septic
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric, Ceiling Fan(s)

    Building Details

    Year built
    1994
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Carpet, Parquet Wood, Wood, Travertine
    Roof type
    Composition

    We can help!

    Listing Contact
    Nan Riter
    Nan Riter

    Listing agent Nan Riter License #0319907

    Listing office Riter Group FORNEY, TX

    Listing date Apr 17, 2026

    MLS# 21045992

    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

    • 31.637‑acre property in the Forney‑Heath area with road frontage and development potential
    • 3,258 SF home built in 1994 with multiple flooring types including carpet, wood, parquet wood, and travertine
    • Second dwelling attached to a barn, plus a large metal shop with utilities
    • Central air and central heating, with additional electric heating and ceiling fans
    • Aerobic septic system and composition roof
    • Parking includes a driveway, garage, and open parking spaces

    Overview

    This development-focused property consists of 31.637 acres and includes existing improvements that broaden the range of potential uses. The site features a 3,258 SF home that can be converted into office space, along with a second dwelling attached to a barn. A large metal shop with utilities is also on site, providing an additional functional building component for tenants, operators, or buyers planning phased development.

    Located in the Forney-Heath area, the property is positioned for practical visibility and advantageous road frontage. The surrounding area is described as having a substantial number of nearby rooftops, supporting demand for both commercial and residential concepts as the DFW Metroplex region continues to grow.

    The configuration and improvements make this land well suited for buyers looking for development optionality, including office-oriented use anchored by the existing residence conversion, or mixed planning that can incorporate residential development with retail frontage. It may also appeal to an operator seeking a headquarters-style setup with existing structures while evaluating future expansion. With multiple building options already in place, the property offers a straightforward platform for commercial and residential investment strategies.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Forney
    County
    Kaufman
    State
    Texas
    Longitude
    -96.466415
    Latitude
    32.805256

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    FAQs

    What type of property is this?
    Commercial land - Expansive acreage with strong visibility and road frontage, plus on-site structures that support flexible commercial and residential plans.
    Where is this commercial land located?
    The property is located at 19966 Fm 740 Forney, TX.
    What is the asking price?
    The asking price for this property is $3,350,000.
    What are key features of this property?
    This property features: 31.637‑acre property in the Forney‑Heath area with road frontage and development potential; 3,258 SF home built in 1994 with multiple flooring types including carpet, wood, parquet wood, and travertine; Second dwelling attached to a barn, plus a large metal shop with utilities
    (972) 564-3332
    We can help!
    Listing Contact
    Nan Riter
    Nan Riter
    Real Estate License ID: 0319907
    Learn More
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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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