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    Gunter Development Opportunity Title is generated by Realmo AI

    115 E Main St, Gunter, TX 75058

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    7.26 acres in Gunter near Preston Rd.

    Type:Land
    Property size:
    2,300 SF
    Lot size:
    7.26 Acres
    Price / SF:
    $341/SF
    Added:
    Mar 23, 2023
    Days on Market:
    1172
    Last Refresh:
    May 13 at 8:21 pm

    Property Features for 115 E Main St

    General Information

    Standard status
    Active
    Size
    2,300 SF
    Lot size
    7.26 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Janith Boyd

    Listing agent Janith Boyd License #TX 0332734

    Listing office Social Living Real Estate Boutique

    Listing date Mar 23, 2023

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of Social Living Real Estate Boutique

    HighLights

    • 7.26 acres in Gunter city limits, ideal for development or investment
    • Seller financing available with 50% down for 3 years
    • Zoned THOR (overlay district with base zoning of C‑1) and SF1, offering flexible usage options
    • City water and sewer connections
    • Strategic location near future Dallas North Tollway extension, Universal Theme Park in Frisco, and major retailers
    • Potential for 1031 Tax Exchange

    Overview

    This 7.26-acre property is located within the city limits of Gunter, Texas, and includes an approximate 2300-square-foot home that requires updates but could potentially be used for rental or office purposes. Situated on Main Street, also known as FM 121, just east of Preston Road, the property presents a development or investment opportunity. Seller financing is available with 50% down for 3 years. According to the City of Gunter, the zoning is THOR (Thoroughfare District) in the front portion and SF1 in the back. The THOR is an overlay district with a base zoning of C-1. The property can currently be used as SF1, but if the home becomes vacant for six months or more, or is demolished, the land use would change to C-1 zoning on the front of the parcel. The property could be purchased as part of a 1031 Tax Exchange. City water and sewer are available. A small yellow building to the east of the home is part of the property and is currently used for storage. New developments are under construction just east of the property on FM 121/Main St. Gunter is positioned for growth, located north of Prosper and Celina and south of Sherman, with proximity to the future extension of the Dallas North Tollway. The property is located 20 minutes from the planned Universal Theme Park in Frisco and 10 minutes from HEB, Costco, Walmart, and Lowe's in Celina. The property extends beyond the creek to the south boundary. Taxes paid by the seller last year were $7740.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center 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
    Gunter
    County
    Grayson
    State
    Texas
    Longitude
    -96.7407903
    Latitude
    33.4448616

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    FAQs

    What type of property is this?
    Commercial land - 7.26 acres in Gunter near Preston Rd.
    Where is this commercial land located?
    The property is located at 115 E Main St Gunter, TX.
    What is the asking price?
    The asking price for this property is $785,000.
    What are key features of this property?
    This property features: 7.26 acres in Gunter city limits, ideal for development or investment; Seller financing available with 50% down for 3 years; Zoned THOR (overlay district with base zoning of C‑1) and SF1, offering flexible usage options
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Janith Boyd
    Real Estate License ID: TX 0332734
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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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