Flex Space with Highway
For Sale
$750,000
2403 State Highway 78 S, Farmersville, TX 75442
CommercialSale, Farmersville, TX
Property Size1,920 SF
Lot Size1.18 Acres
Price / SF$390.63
Days on Market52
Property Features for 2403 State Highway 78 S
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
The Property is located in the ETJ
Parking features
Carport
Lot features
Acreage, Back Yard, Cleared, Lawn, Few Trees
Directions
I30E, exit 73 Farm to Mkt Rd 551 toward Fate, merge onto I30 Frontage Rd, Left on FM 551 N, Continue onto S William E Crawford Ave following Hwy 66E, Left on Farm Rd 1138N, Left on FM 6W, Right on Tx78N.
Standard status
Active
APN
R673900216301
Size
1,920 SF
Lot size
1.18 Acres
Taxes and HOA fees
Tax Description
ABS A0739 E B REED SURVEY, SHEET 2, TRACT 163
Tax Annual Amount
4977
Legal Description
ABS A0739 E B REED SURVEY, SHEET 2, TRACT 163
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Central, Propane (Heating), Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Building Details
Year built
1963
Floors in Building
1
Number of units
2
Flooring type
Tile, Engineered
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Frisco Stars · Keller Williams Realty
(972) 712-9898
Listed By:
Jeff Jacobs · License #0464526
(972) 978-6539
Added: Aug 17
Changed: Oct 3
Last Checked: Oct 7 at 7:06AM
MLS# 21331123
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.
Investment Insights
Based on property information with market context.
This 1.18-acre property in Farmersville’s ETJ includes a 1,920-square-foot, three-bedroom, two-bath home that can serve as office space, along with a detached 720-square-foot barn with water and electric service. Interior features include an updated kitchen with granite countertops and a gas cooktop, hardwood flooring in the family room, updated baths, a mud room, and a full utility room. The property also has a two-car carport, a detached two-car carport with storage, and a chain-link dog run.
The site fronts State Highway 78 for 275 feet and is located near Lake Haven and Windsor Farms. Additional improvements include a 2025 water heater for the main home, an updated septic system, replacement windows and doors, a roof update, and updated cabinets. Potential commercial or mixed-use applications are subject to county approval.
The site fronts State Highway 78 for 275 feet and is located near Lake Haven and Windsor Farms. Additional improvements include a 2025 water heater for the main home, an updated septic system, replacement windows and doors, a roof update, and updated cabinets. Potential commercial or mixed-use applications are subject to county approval.
Key Highlights
- 1.18‑acre parcel in the ETJ with 275 feet of State Highway 78 frontage
- 1,920‑square‑foot main home with 3 bedrooms and 2 baths
- Detached 720SF barn with water and electric
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,349
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,980
$487.0K
Cap Rate 7%
$347,843
$347.8K
Cap Rate 9%
$270,544
$270.5K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$42.2K $21.96/SF
− Vacancy
−$9.7K −$5.05/SF
EGI
$32.5K $16.91/SF
− OpEx
−$8.1K −$4.23/SF
NOI
$24.3K $12.68/SF
Area
Collin County, TX
Vacancy
23.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,980
Cap Rate 7%
$347,843
Cap Rate 9%
$270,544
Alternative Uses
Best Use
Industrial
$1.91M
$1.67M – $2.23M
NOI $133,548 @ 7.0% cap · market cap 17.81%
Second Best
Office B
$347.8K
$304.4K – $405.8K
NOI $24,349 @ 7.0% cap · market cap 3.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75442, TX
11,241
Population
4,060
Households
2.8
Avg Household Size
39
Median Age
18%
College-Educated
85%
High-School Grad
107.6 sq mi
ZIP Area
104
Density / Sq Mi
$84,591
Median Household Income
$48,482
Median Earnings
$1,501
Median Rent
$330,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Existing residential improvements and a detached utility building support office, storage, or other county-approved commercial applications.
Where is this flex space located?
The property is located at 2403 State Highway 78 S Farmersville, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1.18‑acre parcel in the ETJ with 275 feet of State Highway 78 frontage; 1,920‑square‑foot main home with 3 bedrooms and 2 baths; Detached 720SF barn with water and electric
