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    Development Land with Strong Frontage Title is generated by Realmo AI

    8903 Wesley Street, Greenville, TX 75402

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    Claim this Listing
    For Sale
    Under Contract
    $7,500,000

    LAND - Greenville, TX

    Lot size:
    42.60 Acres
    Added:
    May 11, 2026
    Days on Market:
    26
    Last Refresh:
    Jun 5 at 7:06 am

    Property Features for 8903 Wesley Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active Under Contract
    APN
    31923
    Lot size
    42.60 Acres

    Taxes and HOA fees

    Tax Description
    A0811 ODELL JOEL (HUNT COUNTY), TRACT 5-1 & 6, AC
    Tax Annual Amount
    380

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Amanda Rupley
    Amanda Rupley

    Listing agent Amanda Rupley License #0732443

    Listing office Compass RE Texas, LLC Dallas, TX

    Listing date May 11, 2026

    MLS# 21133369

    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

    • 42.601‑acre tract inside Greenville city limits with 1,178 ft of frontage
    • Utilities available: public water, public sewer, and electric
    • Land is under construction‑ready with existing excavation on the site
    • Commercial AG exemption currently in place
    • Subdivision potential for mixed‑use concepts including commercial, multi‑family, or single‑family
    • Located less than 1 mile from I‑30 at Wesley Street and about 3 miles from major employers L3 Harris and Innovation First

    Overview

    This 42.601-acre development tract inside Greenville city limits offers scale, visibility, and flexibility uncommon in fast-growing North Texas. The site includes 1,178 feet of frontage, has already been excavated, and utilities are available, including water, sewer, and electric. The property also benefits from a Commercial AG exemption and can be subdivided, supporting multiple planning approaches.

    Access and location are major advantages. The tract sits less than one mile from I-30 at Wesley Street, approximately 2.5 miles from FM 1570, and within 3 miles of major employers such as L3 Harris and Innovation First. TxDOT plans to widen Highway 34, and current traffic counts are reported between 23,000 and 25,000 vehicles per day, which may enhance long-term accessibility and exposure.

    With the ability to subdivide and described zoning flexibility, this land is well suited for a mixed-use concept that can incorporate commercial, multi-family, single-family, or a thoughtful combination of uses. For developers and investors seeking a high-visibility entry point in a growing secondary market, the combination of infrastructure availability, proven growth indicators, and build-ready site work provides practical optionality for future plans.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Building Supply Dental Office Big Box & Wholesale Store Spa & Massage Center Hair Salon Hotel & Motel Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Hunt
    State
    Texas
    Longitude
    -96.106536
    Latitude
    33.083444

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    FAQs

    What type of property is this?
    Commercial land - A subdividable, partially excavated tract with utilities available and 1,178 feet of frontage inside Greenville city limits.
    Where is this commercial land located?
    The property is located at 8903 Wesley Street Greenville, TX.
    What is the asking price?
    The asking price for this property is $7,500,000.
    What are key features of this property?
    This property features: 42.601‑acre tract inside Greenville city limits with 1,178 ft of frontage; Utilities available: public water, public sewer, and electric; Land is under construction‑ready with existing excavation on the site
    (214) 814-8100
    We can help!
    Listing Contact
    Amanda Rupley
    Amanda Rupley
    Real Estate License ID: 0732443
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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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