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    676 W Audie Murphy Parkway, Farmersville, TX 75442

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    For Sale
    $19,602,000

    LAND - Farmersville, TX

    Lot size:
    30.00 Acres
    Added:
    Apr 10, 2026
    Days on Market:
    55
    Last Refresh:
    Jun 3 at 9:06 am

    Property Features for 676 W Audie Murphy Parkway

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed
    Standard status
    Active
    APN
    R1185900100101
    Lot size
    30.00 Acres

    Taxes and HOA fees

    Tax Description
    HENDRICKS 380 ADDITION (CFC), BLK 1, LOT 1
    Tax Annual Amount
    5714

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1970

    We can help!

    Listing Contact
    Lori Hendricks

    Listing agent Lori Hendricks License #0507742

    Listing office True To Texas Real Estate Pottsboro, TX

    Listing date Apr 10, 2026

    MLS# 21234899 Listing URL

    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

    • Commercial‑zoned property; year built 1970
    • Utilities: public water and public sewer
    • Situated between Hwy 380, newly widened Hamilton Street, and Ramon Street
    • Future land use slated as part of the Towne Center (retail, commercial, mixed‑use, townhomes, urban apartments, offices, and services)
    • Water Street on the north side may open up as a pass‑through in the future
    • Willing to subdivide; two businesses on the property are not included in pricing

    Overview

    This is a development-ready commercial land parcel with current zoning designated for commercial use. The property is slated for future land use as part of a larger “Towne Center” plan that contemplates retail, commercial, mixed-use, townhomes, urban apartments, offices, and services. The seller is willing to subdivide the site, providing flexibility for phased development or multiple end uses. The listing also notes that two businesses located on the property are not included in the pricing.

    The site is positioned between Hwy 380, newly widened Hamilton Street, and Ramond Street. Water Street lies on the north side of the property and may open up as a future pass-through, which could improve internal connectivity depending on how the plan evolves.

    For investors and developers, the combination of current commercial zoning and planned integration into a mixed-use town center makes this parcel well-suited for a variety of speculative or build-to-suit concepts. The willingness to subdivide can help support tailored layouts for different tenant types, while the described road network positioning provides practical access for future site planning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Arms of Hope Drop ... Charitable Organization EZ Mart Farmersville Grocery & Convenience Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmersville
    County
    Collin
    State
    Texas
    Longitude
    -96.369508
    Latitude
    33.157381

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    FAQs

    What type of property is this?
    Commercial land - Commercially zoned development land positioned within a planned mixed-use town center framework.
    Where is this commercial land located?
    The property is located at 676 W Audie Murphy Parkway Farmersville, TX.
    What is the asking price?
    The asking price for this property is $19,602,000.
    What are key features of this property?
    This property features: Commercial‑zoned property; year built 1970; Utilities: public water and public sewer; Situated between Hwy 380, newly widened Hamilton Street, and Ramon Street
    (214) 808-5674
    We can help!
    Listing Contact
    Lori Hendricks
    Real Estate License ID: 0507742
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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.

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