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    Industrial Land with Four-Side Access Title is generated by Realmo AI

    TX-121 & Airport Rd, Bonham, TX 75418

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    For Sale
    $1,690,000

    LAND - Other - Bonham, TX

    Lot size:
    60.00 Acres
    Added:
    Feb 16, 2026
    Days on Market:
    107
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for TX-121 & Airport Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    000000078076
    Lot size
    60.00 Acres

    Taxes and HOA fees

    Tax Description
    A0582 J JENNINGS, ACRES 19.0
    Tax Annual Amount
    4990

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    William Stephens
    William Stephens

    Listing agent William Stephens License #0434869

    Listing office Keller Williams Legacy TX

    Listing date Feb 16, 2026

    MLS# 21028919 Listing URL

    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

    • Approximately 60 acres in the City of Bonham, Texas
    • Adjacent to Jones Field Airport
    • Road frontage on all four sides including Hwy 121, Airport Road, FM 898 (Corsair Lane), and FC 1565
    • Development potential for a variety of uses including residential, commercial, industrial, or airport‑related uses such as private hangars and shipping/transportation
    • Near Bois d'Arc Lake and Lake Ralph Hall (new lake under construction) in an area with Fannin County growth

    Overview

    This offering presents approximately 60 acres of commercially versatile industrial land in Bonham, Texas. The property’s key attribute is its road frontage on all four sides, supporting multiple points of access and a wide range of development approaches. The adjacency to Jones Field Airport further expands the opportunity for airport-related uses such as private hangars, shipping, and transportation.

    Road frontage includes Hwy 121 and Airport Road, along with FM 898, Corsair Lane, and FC 1565, giving the site strong visibility and operational flexibility for prospective users. Bonham is positioned about 27 miles to Sherman, 33 miles to Paris, and roughly 10 miles to the Texas/Oklahoma state line, with approximately one hour reach to the DFW Metroplex. The area is also noted as being in high demand and growing, with nearby Bois d’ Arc Lake and Lake Ralph Hall currently under construction.

    Given the access, frontage, and airport proximity, this land is well suited for investors and operators evaluating mixed-use potential, industrial development, or specialized airport-adjacent concepts. It may also attract buyers looking for long-term value in a market supported by regional growth and expanding water-related development.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Bonham
    County
    Fannin
    State
    Texas
    Longitude
    -96.1915692
    Latitude
    33.6159382

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    FAQs

    What type of property is this?
    Industrial land - Multiple frontage roads support flexible development options adjacent to an airport and growing regional demand.
    Where is this industrial land located?
    The property is located at TX-121 & Airport Rd Bonham, TX.
    What is the asking price?
    The asking price for this property is $1,690,000.
    What are key features of this property?
    This property features: Approximately 60 acres in the City of Bonham, Texas; Adjacent to Jones Field Airport; Road frontage on all four sides including Hwy 121, Airport Road, FM 898 (Corsair Lane), and FC 1565
    (972) 599-7000
    We can help!
    Listing Contact
    William Stephens
    William Stephens
    Real Estate License ID: 0434869
    Learn More
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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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    TX-121 & Airport Rd, Bonham, TX 75418
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