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    68.5 Acres Near Farmersville, TX Title is generated by Realmo AI

    2377 Fm 36 Street North, Celeste, TX 75423

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    Claim this Listing
    For Sale
    $1,600,000

    Agricultural land with workshop, pond, and prime growth location.

    Type:Lots & Acreage / Improved Land
    Property size:
    2,984,731 SF
    Lot size:
    68.52 Acres
    Price / SF:
    $0.54/SF
    Added:
    Apr 12, 2026
    Days on Market:
    54
    Last Refresh:
    Apr 15 at 8:29 pm

    Property Features for 2377 Fm 36 Street North

    General Information

    Standard status
    Active
    Size
    2,984,731 SF
    Lot size
    68.52 Acres
    Property subtype
    Lots & Acreage / Improved Land

    We can help!

    Listing Contact
    Travis Hunt
    Travis Hunt

    Listing agent Travis Hunt License #0746164

    Listing office Texan Team

    Listing date Apr 12, 2026

    Source Compass

    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 Team

    HighLights

    • Prime location in a high‑growth North Texas corridor, near Hwy 380 and the future Collin County Outer Loop, offering strong access to McKinney, Greenville, and Sherman.
    • AG exempt status, no HOA, and no city taxes, ideal for various uses including ranching, barndominium, homestead, recreation, or long‑term investment.
    • Includes a 30x50 workshop with electric, AC, heat, water, spray foam insulation, bathrooms, bedrooms, loft, and a covered RV setup with additional RV plugs.
    • Features a mix of pasture and mature trees, an established pond, and a seasonal creek, suitable for livestock and wildlife.
    • Existing 6‑inch water line at the road adds development potential.
    • Located near historic downtown Farmersville and the Chaparral Trail for horseback riding and hiking.

    Overview

    This 68.52 acre tract, located in Hunt County, TX near Farmersville, is positioned in a high-growth North Texas corridor. The AG exempt property is approximately 4 miles north of State Highway 380 and the future 380 bypass, and about 3 miles west of the planned Collin County Outer Loop, offering access to the McKinney National Airport, Greenville, and the Sherman technology corridor. Situated near the FM 36 and FM 2194 intersection, the property benefits from estimated traffic counts of up to 3500 vehicles daily. The land features a mix of pasture and mature trees, an established pond, and a seasonal creek along the north boundary, suitable for livestock and wildlife. Improvements include a 30x50 workshop with electric, AC, heat, water, spray form insulated walls, bathrooms, bedrooms, loft, plus a covered RV setup (approximately 29 ft peak) and 3 additional 50 amp RV plugs. An existing 6 inch water line at the road adds development potential. Soils are primarily Crockett loam, suitable for farming and grazing. This unincorporated tract with no HOA and no city taxes is suitable for a ranch, barndominium, homestead, recreational use, or long-term investment. It is located minutes from historic downtown Farmersville and near the Chaparral Trail for horseback riding and hiking.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Restaurant Bed & Breakfast Pet Store Pet Store & Service Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Celeste
    County
    Hunt
    State
    Texas
    Longitude
    -96.279341
    Latitude
    33.26596

    Nearby Similar for Sale

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      65 Acres of Ag Land

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - Agricultural land with workshop, pond, and prime growth location.
    Where is this agricultural land / farmland located?
    The property is located at 2377 Fm 36 Street North Celeste, TX.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: Prime location in a high‑growth North Texas corridor, near Hwy 380 and the future Collin County Outer Loop, offering strong access to McKinney, Greenville, and Sherman.; AG exempt status, no HOA, and no city taxes, ideal for various uses including ranching, barndominium, homestead, recreation, or long‑term investment.; **Includes a 30x50 workshop with electric, AC, heat, water, spray foam insulation, bathrooms, bedrooms, loft, and a covered RV setup with additional RV plugs.**
    (740) 381-3622
    We can help!
    Listing Contact
    Travis Hunt
    Travis Hunt
    Real Estate License ID: 0746164
    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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    2377 Fm 36 Street North, Celeste, TX 75423
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