Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Land in Gainesville, TX Title is generated by Realmo AI

    FM 678, Gainesville, TX 76240

    View on Map
    Claim this Listing
    For Sale
    $3,500,000

    LAND - Gainesville, TX

    Lot size:
    47.27 Acres
    Added:
    Apr 19, 2026
    Days on Market:
    45
    Last Refresh:
    Jun 2 at 9:06 pm

    Property Features for FM 678

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    79435
    Lot size
    47.27 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Alejandra Castro de Kapoor

    Listing agent Alejandra Castro de Kapoor License #0807762

    Listing office Lugary, LLC Plano, TX

    Listing date Apr 19, 2026

    MLS# 21241135 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

    • Prime location with extensive frontage on Broadway/FM 678 and Radio Hill Road/FM 3092.
    • Ideal for commercial or mixed‑use development in a high‑growth area.
    • Conceptual development plan available.
    • Zoned commercial and AG exempt with electric, water, and sewer available on‑site.
    • Surrounded by established neighborhoods, a school, and ongoing developments.
    • Large 47.2‑acre tract, a rare opportunity for development.

    Overview

    This 47.2-acre tract of land is strategically located within the city limits of Gainesville, TX, offering frontage on both Broadway (FM 678) and Radio Hill Road (FM 3092). The property benefits from visibility and access from two major roadways, making it suitable for commercial or mixed-use development. A conceptual development plan has been prepared for the property, illustrating the potential for a project (subject to approvals). The property is AG exempt and commercially zoned, with electric, water, and sewer available on-site. The site is surrounded by established neighborhoods, a nearby school, and ongoing developments. This location is positioned for long-term demand.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Gainesville
    County
    Cooke
    State
    Texas
    Longitude
    -97.10426004
    Latitude
    33.6228546

    Nearby Similar for Sale

    • $519,000
      3,034 SF

      Gainesville Ranch with Acreage

      Charming ranch on 6.1 acres near Gainesville, TX.
      2328 FM 2071, Gainesville, TX 76240
      View Details
    • $1,395,000
      2,188 SF

      71 Acres North Texas Ranch

      71 acres in Gainesville, TX, ideal for estate or retreat.
      1258 County Road 352 Road, Gainesville, TX 76240
      View Details
    • $1,470,000
      3,638 SF

      Gainesville Ranch with Custom Home

      25-acre ranch featuring a custom-built home and equestrian facilities.
      1397 CR 338, Gainesville, TX 76240
      View Details
    • $1,470,000
      3,600 SF

      25-Acre Ranch in Gainesville, TX

      25 acres perfect for ranching, equestrian use, or building.
      1397 County Road 338, Gainesville, TX 76240
      View Details
    • $1,200,000
      3,000 SF

      Gainesville Luxury Ranch Barndominium Estate

      Upscale 11-acre equestrian estate with modern barndominium and horse facilities.
      1330 Jrc Road, Gainesville, TX 76240
      View Details
    • $975,000
      2,902 SF

      Modern Farmhouse on 11 Acres

      Stunning modern farmhouse with pond and sunrise views.
      646 County Road 2121, Gainesville, TX 76240
      View Details
    • $1,399,900

      Commercial Land with I-35 Visibility

      Approximately 21 acres of versatile land on the I-35 South service road with strong visibility and development upside.
      3511 S Interstate 35, Gainesville, TX 76240
      View Details
    • $679,000

      Downtown Gainesville Retail/Office Opportunity

      Four units near courthouse with retail/office potential. Owner financing available.
      710 E California Street, Gainesville, TX 76240
      View Details
    • $140,000

      Commercial Land on I-35 Service

      High-visibility commercial property with excellent frontage on I-35 service road.
      720 Mccrary Street, Gainesville, TX 76240
      View Details
    • $749,500

      Waterfront Land on Moss Lake

      Rare waterfront property with 149 feet of shoreline.
      41B White Oak, Gainesville, TX 76240
      View Details
    • $5,855,000
      1,782 SF

      Expansive Land Estate with Development Potential

      123+ acre estate suitable for residential, commercial, or equestrian development.
      8016 E US HWY 82, Gainesville, TX 76240
      View Details
    • $891,891

      Gainesville Land on US Hwy 82

      6.3 acres on US Hwy 82 and FM 168.
      US Hwy 82, Gainesville, TX 76240
      View Details

    FAQs

    What type of property is this?
    Commercial land - 47.2 acres with frontage on Broadway and Radio Hill Road.
    Where is this commercial land located?
    The property is located at FM 678 Gainesville, TX.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Prime location with extensive frontage on Broadway/FM 678 and Radio Hill Road/FM 3092.; Ideal for commercial or mixed‑use development in a high‑growth area.; Conceptual development plan available.
    (214) 422-1699
    We can help!
    Listing Contact
    Alejandra Castro de Kapoor
    Real Estate License ID: 0807762
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    FM 678, Gainesville, TX 76240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!