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    Development-Ready Farmland Tract Title is generated by Realmo AI

    216 Acres JP Cave Road, Sherman, TX 75090

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    Claim this Listing
    For Sale
    $5,940,000

    LAND - Sherman, TX

    Lot size:
    216.00 Acres
    Added:
    Feb 25, 2026
    Days on Market:
    99
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for 216 Acres JP Cave Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Cleared, Wooded, Grassed
    Standard status
    Active
    APN
    122309
    Lot size
    216.00 Acres

    We can help!

    Listing Contact
    Terrin Bertholf

    Listing agent Terrin Bertholf License #0649544

    Listing office Bertholf Commercial Real Estate Denison, TX

    Listing date Feb 25, 2026

    MLS# 21173223 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

    • 217 acres of developable land, conveniently located within 5 miles of major highways (US Hwy 75, Hwy 82) and downtown Sherman.
    • Boasting over 2,400 feet of road frontage on JP Cave Rd, ideal for development.
    • Gentle topography ensures ease of building, with no flood plain and minimal wetlands.
    • Located in Sherman ISD.
    • Minimal easements and agriculturally assessed.
    • Located in Sherman sewer CCN and both Pink Hill water CCN and Sherman water CCN.

    Overview

    This offering presents a rare opportunity to acquire approximately 216 acres in Sherman, Texas. The property features gentle topography across the majority of the site, with no flood plain and minimal wetlands reported. The land is agriculturally assessed and is described as having minimal easements, supporting flexibility for future use.

    The tract is located within about five miles of US Highway 75, Highway 82, and downtown Sherman. It includes more than 2,400 feet of road frontage along JP Cave Rd, providing strong visibility and access for development planning. The property sits within Sherman ISD and is partially located in the city’s ETJ and partially in the county. The site is also noted as being within the Sherman sewer CCN and both the Pink Hill water CCN and Sherman water CCN, with water and sewer roughly 2 miles to the west.

    With its frontage, topography, and limited impediment from floodplain and easements, the property is well suited for investors or developers looking for a sizable land position near key Sherman corridors. The mix of ETJ and county location may appeal to parties evaluating phased or jurisdiction-aware development strategies, while the existing agricultural assessment can be advantageous for holding value prior to planning.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.5341798
    Latitude
    33.62304

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - Large acreage with gentle terrain and substantial road frontage, positioned near major routes and served by nearby water and sewer.
    Where is this agricultural land / farmland located?
    The property is located at 216 Acres JP Cave Road Sherman, TX.
    What is the asking price?
    The asking price for this property is $5,940,000.
    What are key features of this property?
    This property features: 217 acres of developable land, conveniently located within 5 miles of major highways (US Hwy 75, Hwy 82) and downtown Sherman.; Boasting over 2,400 feet of road frontage on JP Cave Rd, ideal for development.; Gentle topography ensures ease of building, with no flood plain and minimal wetlands.
    (903) 267-1573
    We can help!
    Listing Contact
    Terrin Bertholf
    Real Estate License ID: 0649544
    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.

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