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    3700 State Highway 31 Corsicana, TX 75110

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    For Sale
    Contact for pricing

    Prime 1-acre commercial pad. High-traffic location.

    Property Features for 3700 State Highway 31

    General Information

    Property type
    Land

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    Listing Contact
    Wayne Burgdorf, Ccim

    Listing Agency: SVN | Trinity Advisors Listing Agent: Wayne Burgdorf, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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    Property Insight Report

    Overview

    This exceptional 1-acre commercial land parcel presents a remarkable investment opportunity in the rapidly growing West Corsicana area. Located at the northwest corner of State Highway 31 and FM 2555, this property boasts a highly visible location directly across from a newly constructed Walmart and adjacent to a thriving retail corridor. The site is part of a larger 280-acre development featuring a mix of commercial, multi-family, and single-family residential properties, all currently under construction. This ensures a robust and expanding surrounding community. The property benefits from excellent access via State Highway 31, with a bypass nearing completion to further enhance accessibility. The site is zoned for commercial use and offers a variety of potential uses. The asking price is $522,720, reflecting a land value of $12 per square foot. This is a typical price point for similar pads within the development. Several national retailers have already committed to the development, including McDonald's, Petco, and a tunnel car wash, demonstrating strong market demand and confidence in the area's growth potential. The property's size is approximately 43,560 square feet, making it ideal for a variety of commercial ventures. Two traffic signals within the development provide optimal visibility and accessibility. This is a rare opportunity to secure a prime commercial pad in a high-growth area with significant existing and future development. Brochures with detailed pad site information and pricing are available. The developer owns the land.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Smitty’s Car Wash Car Wash

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Corsicana
    County
    Navarro
    State
    Texas
    Longitude
    -96.504819465324
    Latitude
    32.07031687641

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    FAQs

    What type of property is this?
    Land - Prime 1-acre commercial pad. High-traffic location.
    Where is this land located?
    The property is located at 3700 State Highway 31 Corsicana, TX.
    What is the asking price?
    The asking price for this property is $522,720.
    What are key features of this property?
    This property features: $522,720 asking price for a 1-acre commercial land pad.; Located in Corsicana, TX, at the intersection of SH-31 and FM 2555.; Commercial zoning; 43,560 square feet lot size.
    (817) 288-5556 Call to check price and availability
    Request Owner's contact information
    3700 State Highway 31 Corsicana, TX 75110
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    Corsicana, TX 75110
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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
    3700 State Highway 31 Corsicana, TX 75110
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    Contact for Pricing
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    Wayne Burgdorf, Ccim
    Real Estate License ID: TX 359895
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