Multi-Use Stone Building with
For Sale
$1,500,000
55 Heritage Road, Gordonville, TX 76245
COMMERCIAL - Gordonville, TX
Property Size4,000 SF
Lot Size8.10 Acres
Price / SF$375
Days on Market48
Property Features for 55 Heritage Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Driveway, Covered, Carport
Security features
Security
Lot features
Acreage, Back Yard, Cleared, Corner Lot, Lawn, Landscaped, Pond On Lot, Many Trees, Few Trees
Directions
North on HWY 377 through Whitesboro, pass under HWY 82 keep going north, property will be on the left after HWY 901 turn off at the corner of HWY 377 and Heritage Road.
Standard status
Active
APN
111448
Lot size
8.10 Acres
Taxes and HOA fees
Tax Description
G-1393 YGLESIAS DIONISIO A-G1393, ACRES 8.099
Tax Annual Amount
10849
Legal Description
G-1393 YGLESIAS DIONISIO A-G1393, ACRES 8.099
Utilities
Sewer type
Private Sewer, Aerobic Septic, Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric, Ceiling Fan(s)
Water source
Well
Building Details
Year built
1985
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Block, Rock, Stone
Roof type
Composition
Listing Agency:
Southernlifeliving.com
(940) 390-3911
Listed By:
Laura Bradley · License #0617941
(940) 390-3911
Added: Jun 26
Changed: Aug 4
Last Checked: Aug 12 at 3:06AM
MLS# 21311961
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.
Multi-use stone building on 8.099 acres offering office and residential space under one roof, plus a large garage for storage. The office portion includes three private offices, a spacious conference room, flex space, two bathrooms, and a large garage. The income-producing residential portion features two bedrooms, one bathroom, a full kitchen, and multiple flexible workspaces.
The property sits just outside the city limits with no zoning restrictions and over 870 feet of Highway 377 frontage. Outside, there are two stocked ponds, a fenced yard, two water wells for irrigation, and co-op water. Building features include spray foam insulation along the roofline for energy efficiency, a security system with cameras, and a new roof recently installed.
Conveniently located minutes from Lake Texoma, area marinas, casinos, and wineries, the site is positioned for a range of uses, including professional offices, medical, event venue, retail, contractor headquarters, hospitality, or mixed-use development.
The property sits just outside the city limits with no zoning restrictions and over 870 feet of Highway 377 frontage. Outside, there are two stocked ponds, a fenced yard, two water wells for irrigation, and co-op water. Building features include spray foam insulation along the roofline for energy efficiency, a security system with cameras, and a new roof recently installed.
Conveniently located minutes from Lake Texoma, area marinas, casinos, and wineries, the site is positioned for a range of uses, including professional offices, medical, event venue, retail, contractor headquarters, hospitality, or mixed-use development.
Key Highlights
- Approximately 4,000 SF multi‑use stone commercial building on 8 acres
- Over 870 ft of Highway 377 frontage
- Includes office space with 3 private offices, conference room, flex space, 2 bathrooms, and large garage/storage area
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
$66,908
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
4.46%
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%
$1,338,160
$1.3M
Cap Rate 7%
$955,829
$955.8K
Cap Rate 9%
$743,422
$743.4K
Market Conditions
NOI Build-Up for 4,000 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
$122.9K $30.72/SF
− Vacancy
−$33.7K −$8.42/SF
EGI
$89.2K $22.30/SF
− OpEx
−$22.3K −$5.58/SF
NOI
$66.9K $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 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%
$1,338,160
Cap Rate 7%
$955,829
Cap Rate 9%
$743,422
Alternative Uses
Best Use
Office B
$955.8K
$836.4K – $1.12M
NOI $66,908 @ 7.0% cap · market cap 4.46%
Second Best
Mixed Use
$565.7K
$495.0K – $660.0K
NOI $39,600 @ 7.0% cap · market cap 2.64%
Theoretical Best
Hotel Hospitality
$2.05M
$1.80M – $2.39M
NOI $143,640 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Stone building on 8.1 acres with office space, a residential unit, and a large garage for storage.
Where is this live-work space 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: Approximately 4,000 SF multi‑use stone commercial building on 8 acres; Over 870 ft of Highway 377 frontage; Includes office space with 3 private offices, conference room, flex space, 2 bathrooms, and large garage/storage area
