Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Longview TX Land Development Opportunity Title is generated by Realmo AI

    500 Gilmer Rd, Longview, TX 75604

    View on Map
    Claim this Listing
    For Sale
    $545,000

    LAND - Longview, TX

    Lot size:
    12.00 Acres
    Added:
    Aug 1, 2023
    Days on Market:
    1028
    Last Refresh:
    May 24 at 1:06 am

    Property Features for 500 Gilmer Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Fencing
    Fenced
    Standard status
    Active
    Lot size
    12.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    933

    We can help!

    Listing Contact
    Tanner Terry
    Tanner Terry

    Listing agent Tanner Terry License #0699929

    Listing office Teri Norwood Real Estate Team 3106 Gilmer Rd., Longview, TX

    Listing date Aug 1, 2023

    MLS# 20234457 Listing URL

    Copyright © 2026 Longview Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 12 acres of prime real estate ideal for development
    • Potential for 28+ residential lots
    • Room for commercial lot(s) on Gilmer Rd.
    • Highly sought‑after area
    • Favorable zoning
    • Strategic location

    Overview

    This 12-acre property, located at 500 Gilmer Rd in Longview, TX 75604, presents a development opportunity. The expansive parcel is suitable for a housing development project, with the potential for over 28 residential lots. The property also allows for the inclusion of one or two commercial lots on Gilmer Rd. The location and zoning make this property suitable for developers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Longview
    County
    Gregg
    State
    Texas
    Longitude
    -94.76866
    Latitude
    32.509815

    Nearby Similar for Sale

    • $620,000

      Functional Commercial Property in Longview

      Versatile commercial property with office, shop, and yard space.
      1518 Colony Circle, Longview, TX 75604
      View Details
    • $2,889,772
      12,715 SF

      Longview Commercial Property on Loop

      Commercial property in Longview, Texas, with high traffic visibility.
      1310 NW Loop 281, Longview, TX 75604
      View Details
    • $745,000
      2,556 SF

      Longview Commercial Building on Judson

      Contemporary, energy-efficient commercial building on a high-visibility corridor.
      4406 Judson Rd, Longview, TX 75605
      View Details
    • $1,550,000
      34,200 SF

      Longview School Campus Opportunity

      Full school campus in Downtown Longview, Texas for sale.
      500 E Magrill St, Longview, TX 75601
      View Details
    • $475,000
      4,000 SF

      Versatile Commercial Space in Longview

      1.2-acre property with a 4,000 sq ft shop.
      126 Gamel Rd, Longview, TX 75604
      View Details
    • $1,550,000

      Downtown Longview School Campus Opportunity

      Full school campus in the heart of Downtown Longview, Texas.
      500 E Magrill Street, Longview, TX 75601
      View Details
    • $1,450,000
      8,000 SF

      Unique Downtown Longview Commercial Building

      Exceptional investment opportunity in Longview's vibrant arts district.
      501 N Third St, Longview, TX 75602
      View Details
    • $2,889,772

      Retail Space in Longview, TX

      Retail space with high visibility in established Longview trade area.
      1310 W Loop 281, Longview, TX 75604
      View Details
    • $1,800,000
      10,200 SF

      Longview Commercial Investment Opportunity

      Two office complexes on 2.694 acres in Longview, Texas.
      2753 & 2755 SH 322, Longview, TX 75603
      View Details
    • $579,000

      Versatile Commercial Property on 1.15 Acres

      Commercial property with three buildings and drive-through access.
      7120 US 259, Longview, TX 75605
      View Details
    • $495,000
      9,000 SF

      Longview Commercial Property on Loop

      Commercial property with showroom, offices, warehouses, and expansion potential.
      5105 W LOOP 281, Longview, TX 75604
      View Details
    • $425,000
      3,500 SF

      Longview Office Building Investment

      North Longview office building with long-term tenants.
      3110 GILMER RD, Longview, TX 75604
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 12 acres ideal for residential and commercial development.
    Where is this residential land & home lot located?
    The property is located at 500 Gilmer Rd Longview, TX.
    What is the asking price?
    The asking price for this property is $545,000.
    What are key features of this property?
    This property features: 12 acres of prime real estate ideal for development; Potential for 28+ residential lots; Room for commercial lot(s) on Gilmer Rd.
    (903) 220-3890
    We can help!
    Listing Contact
    Tanner Terry
    Tanner Terry
    Real Estate License ID: 0699929
    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

    Thank You for Inquiry
    500 Gilmer Rd, Longview, TX 75604
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!