Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Fenced Live-Work Shop with Dual Gates Title is generated by Realmo AI

    7703 Prairie Creek Lane, Tolar, TX 76476

    View on Map
    Claim this Listing
    For Sale
    $670,000

    COMMERCIAL - Tolar, TX

    Property size:
    1,800 SF
    Lot size:
    2.29 Acres
    Price / SF:
    $372/SF
    Added:
    Apr 26, 2026
    Days on Market:
    39
    Last Refresh:
    Jun 3 at 12:06 pm

    Property Features for 7703 Prairie Creek Lane

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Carport, Gated, RV, Driveway
    Standard status
    Active
    APN
    R000028935
    Lot size
    2.29 Acres

    Taxes and HOA fees

    Tax Description
    Lot: 1 & 7, Blk: 1, Subd: Prairie

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Heating system
    Central
    Cooling system
    Central Air, Multi Units
    Water source
    Well

    Building Details

    Year built
    2022
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Concrete
    Building materials
    SteelSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Steven Haines

    Listing agent Steven Haines License #0816903

    Listing office Pinnacle Realty Advisors Early, TX

    Listing date Apr 26, 2026

    MLS# 21200412

    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

    • 2.29‑acre fenced corner tract in Tolar, TX with dual gated access
    • Fully insulated steel live‑work structure built in 2022
    • Over 1,800 sq ft of finished living area with central heating and central air
    • Climate‑controlled shop powered by multiple mini‑split systems
    • Oversized garage designed to accommodate a Class A motorcoach
    • Metal roof with well water and septic tank; utilities include propane

    Overview

    This owner-user live-work opportunity centers on a fully insulated steel structure built in 2022, designed for practical, high-utility use. The property includes more than 1,800 square feet of finished living area plus a climate-controlled shop supported by multiple mini-split systems. On-site storage is emphasized with a large, oversized garage that can accommodate a Class A motorcoach, making the space well-suited for vehicle storage or workspace flexibility. The yard is secured and functional, with a fenced corner tract configured to support day-to-day operations.

    Set on 2.29 acres at 7703 Prairie Creek Lane in Tolar, Texas (Hood County), the site features dual gated access for convenient arrival and staging. This configuration is particularly helpful for owner-operators who need both secure storage and workable flow for equipment, materials, or service activity.

    The layout and improvements are a strong fit for buyers seeking operational flexibility without the time and cost of building from the ground up. A contractor, tradesman, service business owner, storage-based operator, or restoration user can leverage the combination of shop, enclosed storage, and on-site living in one improved package. It also presents a compelling purchase for anyone who needs a secure yard area that still supports residential functionality.
    Property Profile Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

    Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Tolar
    County
    Hood
    State
    Texas
    Longitude
    -97.8719409
    Latitude
    32.316464

    Nearby Similar for Sale

    • $500,000

      Corner Restaurant Building with Flexible Layout

      Previously configured for restaurant use at a visible corner location, ideal for a cafe, bar, or event venue.
      8718 W US Highway 377, Tolar, TX 76476
      View Details
    • $1,475,000
      2,905 SF

      Texas Ranch with Equestrian Facilities

      Ag-exempt property featuring a custom home, barn, and arena.
      4525 Tolar Highway, Tolar, TX 76476
      View Details
    • $500,000

      Restaurant Opportunity in Tolar, TX

      Prime restaurant location in Tolar, Texas, ready for new concept.
      8718 W Us Highway 377, Tolar, TX 76476
      View Details
    • $1,900,000

      RV Park & Equestrian Facility

      New RV park and equestrian facility near the horse capital.
      7000 Hill City Hwy, Tolar, TX 76476
      View Details

    FAQs

    What type of property is this?
    Live-work space - Built in 2022, this fenced dual-gated live-work property combines a climate-controlled shop, enclosed storage, and on-site living.
    Where is this live-work space located?
    The property is located at 7703 Prairie Creek Lane Tolar, TX.
    What is the asking price?
    The asking price for this property is $670,000.
    What are key features of this property?
    This property features: 2.29‑acre fenced corner tract in Tolar, TX with dual gated access; Fully insulated steel live‑work structure built in 2022; Over 1,800 sq ft of finished living area with central heating and central air
    (325) 642-3295
    We can help!
    Listing Contact
    Steven Haines
    Real Estate License ID: 0816903
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    7703 Prairie Creek Lane, Tolar, TX 76476
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!