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    Medical Office Building with Accessibility Title is generated by Realmo AI

    503 Lipscomb Street, Bonham, TX 75418

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    For Sale
    $299,900

    SINGLE_FAMILY - Bonham, TX

    Type:Office
    Lot size:
    0.15 Acres
    Added:
    Feb 12, 2026
    Days on Market:
    111
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 503 Lipscomb Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Parking features
    Parking Lot
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    000000091745
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Description
    FRANCIS ADDN, BLOCK 1, LOT 5R, ACRES .1454
    Tax Annual Amount
    4771

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1995
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Laminate, Carpet
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Megan Towery

    Listing agent Megan Towery License #0645852

    Listing office PARAGON, REALTORS Sherman, TX

    Listing date Feb 12, 2026

    MLS# 20843141

    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

    • Brick commercial building built in 1995 with central heating and electric cooling
    • Accessible approach with ramp and wheelchair accessibility features
    • Roof is composition; flooring includes laminate and carpet
    • Utilities: public water and public sewer
    • On‑site parking lot with parking for customers and staff
    • Commercial space located directly across from TMC Bonham

    Overview

    This versatile commercial building is presented as a move-in ready option for medical, healthcare, or professional uses. The flexible layout can support a clinic, therapy center, office, or wellness practice, and it includes wheelchair ramps and handicap accessibility for patient and client convenience.

    Positioned directly across from TMC Bonham, the location is designed for easy approach by patients, clients, and staff. The property also benefits from high visibility and straightforward access, helping businesses serve the surrounding healthcare community.

    With accessibility already in place and a configuration that can adapt to different service models, this facility is well suited for providers looking to expand locally or launch a new practice, along with professional users seeking a patient-friendly setting. The combination of a health-oriented address and a ready-to-operate interior supports a practical path to occupancy for the right healthcare or professional tenant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    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
    Bonham
    County
    Fannin
    State
    Texas
    Longitude
    -96.167738
    Latitude
    33.578125

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    FAQs

    What type of property is this?
    Medical Office Space - Move-in ready medical or professional space directly across from TMC Bonham, with handicap access and a flexible layout.
    Where is this medical office space located?
    The property is located at 503 Lipscomb Street Bonham, TX.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: Brick commercial building built in 1995 with central heating and electric cooling; Accessible approach with ramp and wheelchair accessibility features; Roof is composition; flooring includes laminate and carpet
    (903) 893-8174
    We can help!
    Listing Contact
    Megan Towery
    Real Estate License ID: 0645852
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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.

    More about this property
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