Mixed-Use Building with Highway
For Sale
$1,500,000
55 Heritage Road, Gordonville, TX 76245
Separate office and residential areas bring workplace and living functions together under one roof.
Property Size3,040 SF
Lot Size8.00 Acres
Price / SF$493.42
Days on Market8
Property Features for 55 Heritage Road
General Information
Standard status
Active
Size
3,040 SF
Lot size
8.00 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Mixed-Use Components
office, residential
Amenities
stocked ponds
fenced yard
two water wells for irrigation
co-op water
spray foam insulation
security system with cameras
new roof
Building Details
Building Size
3,040 SF
Year Built
1985
Buildings
1
Stories
1
Units
1
Construction
stone
Listing Agency:
Southernlifeliving.com
Listed By:
Laura Bradley · License #0617941
(940) 390-3911
Source:
Cogburnrealestate
Added: Oct 21
Changed: Oct 26
Last Checked: Oct 26 at 3:59AM
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 Southernlifeliving.com
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property combines office space with a residential area in a stone building constructed in 1985. The office layout includes three private offices, a conference room, two bathrooms, flex space and a large garage. The residential section has two bedrooms, one bathroom, a full kitchen and additional work areas. Roofline spray foam insulation, a security system with cameras and a recently installed roof are also in place.
The property covers 8 acres just outside the city limits, with over 870 feet of frontage on Highway 377. Site features include two stocked ponds, a fenced yard, two irrigation wells and co-op water. The property is described as having no zoning restrictions.
The property covers 8 acres just outside the city limits, with over 870 feet of frontage on Highway 377. Site features include two stocked ponds, a fenced yard, two irrigation wells and co-op water. The property is described as having no zoning restrictions.
Key Highlights
- 8 acres with over 870 feet of frontage on Highway 377
- Stone building constructed in 1985
- Office area with three private offices, a conference room, two bathrooms, flex space and a large garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,850
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,017,000
$1.0M
Cap Rate 7%
$726,429
$726.4K
Cap Rate 9%
$565,000
$565.0K
Market Conditions
NOI Build-Up for 3,040 SF
Gross rent
$93.4K $30.72/SF
− Vacancy
−$25.6K −$8.42/SF
EGI
$67.8K $22.30/SF
− OpEx
−$17.0K −$5.58/SF
NOI
$50.9K $16.73/SF
Area
Grayson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,017,000
Cap Rate 7%
$726,429
Cap Rate 9%
$565,000
Alternative Uses
Best Use
Office B
$726.4K
$635.6K – $847.5K
NOI $50,850 @ 7.0% cap · market cap 3.39%
Second Best
Mixed Use
$429.9K
$376.2K – $501.6K
NOI $30,096 @ 7.0% cap · market cap 2.01%
Theoretical Best
Hotel Hospitality
$1.56M
$1.36M – $1.82M
NOI $109,166 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 76245, TX
1,954
Population
1,408
Households
1.4
Avg Household Size
55
Median Age
22%
College-Educated
87%
High-School Grad
24.2 sq mi
ZIP Area
81
Density / Sq Mi
$75,391
Median Household Income
$32,885
Median Earnings
$840
Median Rent
$196,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate office and residential areas bring workplace and living functions together under one roof.
Where is this mixed-use property located?
The property is located at 55 Heritage Road Gordonville, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8 acres with over 870 feet of frontage on Highway 377; Stone building constructed in 1985; Office area with three private offices, a conference room, two bathrooms, flex space and a large garage
