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    Divisible Land on FM 344 Title is generated by Realmo AI

    W FM 344, Bullard, TX 75757

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    Claim this Listing
    For Sale
    $3,220,000

    LAND - Bullard, TX

    Lot size:
    115.00 Acres
    Added:
    Mar 10, 2026
    Days on Market:
    87
    Last Refresh:
    Jun 4 at 11:06 am

    Property Features for W FM 344

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    115.00 Acres

    We can help!

    Listing Contact
    Jeremy Caruthers

    Listing agent Jeremy Caruthers License #0627529

    Listing office Drake Real Estate & Investments 11621 CR 166, Tyler, TX

    Listing date Mar 10, 2026

    MLS# 25004683

    Copyright © 2026 Greater Tyler Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 115 +/- acres of land on FM 344 in Bullard
    • Over 3,900 ft of frontage along FM 344 with approx. 1,800 ft depth
    • Seller is willing to divide; available in customizable ranges from 10+ acres
    • Southern Utilities Water available
    • Electrical available
    • Sewer availability potential with Emerald Bay MUD

    Overview

    This offering consists of approximately 115 +/- acres of land with substantial frontage along FM 344. The parcel is described with an approximate depth of 1,800 feet and over 3,900 feet of frontage. The seller is willing to divide, with customizable ranges available from 10+ acres, making it suitable for phased planning and tenant-by-tenant or lot-by-lot development strategies.

    The property is located on W FM 344 in Bullard, within Smith County, TX. Utilities are identified as available with Southern Utilities Water and electrical. Sewer is noted as having potential availability through Emerald Bay MUD, which may be an important planning factor for projects that require sewer service.

    For developers, investors, and builders, the site’s scale and divisibility provide flexibility for commercial or residential concepts, depending on how the acreage is structured. With water and electricity already available and sewer potential to explore, the land can support early project planning while allowing future design decisions to align with the level of subdivision and service integration needed for the intended end use.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Bullard
    County
    Smith
    State
    Texas
    Longitude
    -95.3574
    Latitude
    32.1219

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    FAQs

    What type of property is this?
    Commercial land - Divisible commercial or residential land with utilities available and extensive FM 344 frontage in Bullard, TX.
    Where is this commercial land located?
    The property is located at W FM 344 Bullard, TX.
    What is the asking price?
    The asking price for this property is $3,220,000.
    What are key features of this property?
    This property features: 115 +/- acres of land on FM 344 in Bullard; Over 3,900 ft of frontage along FM 344 with approx. 1,800 ft depth; Seller is willing to divide; available in customizable ranges from 10+ acres
    (903) 581-3737
    We can help!
    Listing Contact
    Jeremy Caruthers
    Real Estate License ID: 0627529
    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.

    More about this property
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