Add Listing
    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

    TBD Lot 2 County Road 703 Farmersville, TX 75442

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $355,315

    Unimproved land available on County Road 703, Farmersville, TX.

    Type:Land
    Added:
    Dec 8, 2023
    Days on Market:
    864
    Last Refresh:
    Mar 16 at 9:03 am

    Property Features for TBD Lot 2 County Road 703

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Tonya Mercer

    Listing agent Tonya Mercer License #0533818

    Listing office Texan Realtor Group LLC

    Listing date Dec 8, 2023

    Source Evrealestate

    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 Texan Realtor Group LLC

    Overview

    Unimproved Land on County Road

    The property is located off of County Road 703 in Farmersville, TX. From the intersection of Highway 380 and Highway 78, proceed north approximately 7 miles to County Road 618, then turn right and continue approximately 7 miles to County Road 703, turn right again. Continue on County Road 703 around the curve; the property starts halfway down on the left and extends to the second curve. The property is located in Collin County.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Hotel & Motel Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmersville
    County
    Collin
    State
    Texas
    Longitude
    -96.303148
    Latitude
    33.233427

    Nearby Similar for Sale

    • $499,000

      Historic Farmersville Building with Potential

      Versatile building in historic downtown Farmersville suitable for various businesses.
      107 S Main Street, Farmersville, TX 75442
      View Details
    • $946,559

      Prime Corner Lot in Farmersville

      2.173 acre commercial lot in a high-traffic area.
      1806 Harvard Boulevard, Farmersville, TX 75442
      View Details
    • $375,000

      Historic Retail Building in Farmersville

      Charming historic retail property with endless potential in downtown Farmersville.
      104 Mckinney Street, Farmersville, TX 75442
      View Details
    • $325,000
      1,987 SF

      Farmhouse on Spacious Acres

      Charming farmhouse on 2 acres in Hunt County, Texas.
      3751 Fm 903, Farmersville, TX 75442
      View Details
    • $399,000

      Farmersville Land with Road Access

      Unimproved corner lot near Highway 380 in Farmersville, Texas.
      000 County Road 653, Farmersville, TX 75442
      View Details
    • $645,000

      Farmersville Land with Development Potential

      10-acre tract in Farmersville, TX with residential development flexibility.
      000 County Road 551, Farmersville, TX 75442
      View Details
    • $355,000

      9+ Acre Farmersville Land Parcel

      Versatile acreage ideal for residential, agricultural, or recreational use.
      988 County Road 655, Farmersville, TX 75442
      View Details
    • $1,400,000

      Versatile Farmersville Warehouse with Residential Component

      6.1+ acres with a 7,680 sq ft metal building.
      15105 County Road 558, Farmersville, TX 75442
      View Details
    • $335,000

      Land Parcel in Farmersville, TX

      8.162 acre land parcel in Farmersville, Texas for sale.
      2337 Old Josephine Road, Farmersville, TX 75442
      View Details
    • $320,000

      Farmersville Pastureland with Agricultural Exemption

      5.155 acres of open pastureland ideal for agricultural use.
      12626 Fm 2756, Farmersville, TX 75407
      View Details
    • $977,500
      3,142 SF

      Farmersville Farm/Ranch with Custom Home

      Custom home on 10+ acres near major roadways.
      5541 County Road 1130, Farmersville, TX 75442
      View Details
    • $1,290,000
      5,269 SF

      Farmersville Multi-Use Family Compound Estate

      13.77-acre estate with main residence, guest house, and outdoor amenities.
      1627 Fm 547, Farmersville, TX 75442
      View Details

    FAQs

    What type of property is this?
    Land - Unimproved land available on County Road 703, Farmersville, TX.
    Where is this land located?
    The property is located at TBD Lot 2 County Road 703 Farmersville, TX.
    What is the asking price?
    The asking price for this property is $355,315.
    What are key features of this property?
    This property features: Located in Collin County; Fencing: Barbed Wire, Partial; Property located on CR 703
    (972) 832-5588
    We can help!
    Listing Contact
    Tonya Mercer
    Real Estate License ID: 0533818
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!