Commercial Land with Highway
For Sale
$342,000
500 N State Highway 5 N, Blue Ridge, TX 75424
LAND - Blue Ridge, TX
Property Size1,377 SF
Lot Size1.01 Acres
Price / SF$248.37
Days on Market49
Property Features for 500 N State Highway 5 N
General Information
Property type
Land
Property subtype
Other
Zoning description
Zoned residential with opportunity for commercial zoning
Vegetation
Grassed
Subdivision
N-A
Lot features
Acreage, Back Yard, Corner Lot, Lawn, Few Trees, Wooded, City Lot
Elementary school
Blueridge
Middle school
Blueridge
High school
Blueridge
Elementary school district
Blue Ridge ISD
Middle school district
Blue Ridge ISD
High school district
Blue Ridge ISD
Directions
Easy access from Highway 75 Central Expressway, 121, Hwy 78 or Hwy 380. Acessible from HWY 78, 380, 981, Central Expwy & HWY 121. Check GPS or call for directions.
Standard status
Active
APN
R655700212701
Lot size
1.01 Acres
Taxes and HOA fees
Tax Description
ABS A0557 M MOWERY SURVEY, SHEET 2, TRACT 127
Tax Annual Amount
3128
Legal Description
ABS A0557 M MOWERY SURVEY, SHEET 2, TRACT 127
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1987
Additional Structures
Garage(s)
Listing Agency:
Congress Realty, Inc.
(888) 881-4118
Listed By:
Jared English · License #20608
(866) 599-5601
Added: Jul 12
Changed: Aug 19
Last Checked: Aug 29 at 2:06PM
MLS# 21312924
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.
Commercial land opportunity in Blue Ridge, Texas, offered on a 1.012-acre, corner-style lot with no HOA. The property is located directly on State Highway 78 and includes rear street access for additional ingress and egress. City water, public sewer, and electric are already on site.
A 1,377 SF shop with a dedicated office area is included, featuring a 39' x 27' main workspace plus an additional 18' x 18' space that can be used as office or storage. The residential structure on the site is described as having little or no contributory value, with the primary value attributed to the land, the Highway 78 frontage, and the shop/office building. The property is described as residentially zoned but primed for rezoning to commercial use.
With highway access and existing site utilities, this lot may appeal to buyers looking for an owner-user setup, investment use, or redevelopment planning around the existing shop/office improvements.
A 1,377 SF shop with a dedicated office area is included, featuring a 39' x 27' main workspace plus an additional 18' x 18' space that can be used as office or storage. The residential structure on the site is described as having little or no contributory value, with the primary value attributed to the land, the Highway 78 frontage, and the shop/office building. The property is described as residentially zoned but primed for rezoning to commercial use.
With highway access and existing site utilities, this lot may appeal to buyers looking for an owner-user setup, investment use, or redevelopment planning around the existing shop/office improvements.
Key Highlights
- 1.012‑acre corner‑style lot with no HOA
- Direct frontage on State Highway 78
- Rear street access for additional ingress and egress
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,463
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$349,260
$349.3K
Cap Rate 7%
$249,471
$249.5K
Cap Rate 9%
$194,033
$194.0K
Market Conditions
NOI Build-Up for 1,377 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.2K $21.96/SF
− Vacancy
−$7.0K −$5.05/SF
EGI
$23.3K $16.91/SF
− OpEx
−$5.8K −$4.23/SF
NOI
$17.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$349,260
Cap Rate 7%
$249,471
Cap Rate 9%
$194,033
Alternative Uses
Best Use
Office B
$249.5K
$218.3K – $291.1K
NOI $17,463 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$1.37M
$1.20M – $1.60M
NOI $95,779 @ 7.0% cap · market cap 28.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 75424, TX
4,517
Population
1,387
Households
3.3
Avg Household Size
38
Median Age
18%
College-Educated
87%
High-School Grad
63.6 sq mi
ZIP Area
71
Density / Sq Mi
$82,974
Median Household Income
$45,875
Median Earnings
$1,563
Median Rent
$302,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Corner commercial land with highway frontage, rear access, and public utilities on site.
Where is this commercial land located?
The property is located at 500 N State Highway 5 N Blue Ridge, TX.
What is the asking price?
The asking price for this property is $342,000.
What are key features of this property?
This property features: 1.012‑acre corner‑style lot with no HOA; Direct frontage on State Highway 78; Rear street access for additional ingress and egress
