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    Commercial Corner Development Lot Title is generated by Realmo AI

    920 N Center Street, Bonham, TX 75418

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    Claim this Listing
    For Sale
    $261,700

    LAND - Bonham, TX

    Lot size:
    0.68 Acres
    Added:
    Apr 21, 2026
    Days on Market:
    45
    Last Refresh:
    Jun 4 at 7:06 am

    Property Features for 920 N Center Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    000000091466
    Lot size
    0.68 Acres

    Taxes and HOA fees

    Tax Description
    EVANS BLK ADDN, BLOCK 1, LOT 5, ACRES .781
    Tax Annual Amount
    4044

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    2000
    Floors in Building
    1
    Number of units
    1

    We can help!

    Listing Contact
    Chris Johnson
    Chris Johnson

    Listing agent Chris Johnson License #200452

    Listing office FanninLand Realty Bonham, TX

    Listing date Apr 21, 2026

    MLS# 21090466

    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

    • 0.68‑acre commercial corner lot on Center Street (State Highway 78), blocks north of Bonham’s downtown square
    • Existing 16,650 SF asphalt parking lot in place
    • Approximately 13,000 SF additional space available for development
    • Commercial zoning already in place
    • Public water and public sewer (Public Sewer) available

    Overview

    This offering presents a prime commercial corner lot featuring an existing 16,650-square-foot asphalt parking lot in excellent condition. In addition to the paved parking infrastructure, the site includes approximately 13,000 square feet of additional space that can support future development. The property is described as turnkey, with commercial zoning already in place and full city services available, positioning the lot for near-term redevelopment or continued parking use.

    The site is situated on a high-traffic corridor at Center Street (State Highway 78) and is located just blocks north of Bonham’s downtown square. Its corner positioning supports visibility and accessibility for customer-oriented businesses, while the substantial existing parking footprint can help reduce near-term site improvements.

    Given the combination of active parking, development capacity, and commercial zoning, this property may appeal to buyers seeking a flexible automotive or retail-adjacent site, as well as operators needing a prepared, low-friction parking solution with room to expand. Interested parties should confirm all details and development assumptions independently, including applicable zoning and site plan requirements, before proceeding.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bonham Community Health ... Community Health Centre Lisa Brittmon, APN Physician Dr. Roxana L. ... Physician Dustin Elk Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • U-Haul Neighborhood Dealer — 2430 N Center St, Bonham, TX 75418

    Location Insight

    • Map
    • Local Demand
    City
    Bonham
    County
    Fannin
    State
    Texas
    Longitude
    -96.17739
    Latitude
    33.5823752

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    FAQs

    What type of property is this?
    Parking lot & garage - High-visibility corner lot with an existing asphalt parking lot and development-ready additional area under commercial zoning.
    Where is this parking lot & garage located?
    The property is located at 920 N Center Street Bonham, TX.
    What is the asking price?
    The asking price for this property is $261,700.
    What are key features of this property?
    This property features: 0.68‑acre commercial corner lot on Center Street (State Highway 78), blocks north of Bonham’s downtown square; Existing 16,650 SF asphalt parking lot in place; Approximately 13,000 SF additional space available for development
    (903) 583-8538
    We can help!
    Listing Contact
    Chris Johnson
    Chris Johnson
    Real Estate License ID: 200452
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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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    920 N Center Street, Bonham, TX 75418
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