Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land with Pond in Paris Title is generated by Realmo AI

    FM 1506, Paris, TX 75460

    View on Map
    Claim this Listing
    For Sale
    $105,000

    LAND - Paris, TX

    Lot size:
    7.25 Acres
    Added:
    May 20, 2026
    Days on Market:
    17
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for FM 1506

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    129847
    Lot size
    7.25 Acres

    Taxes and HOA fees

    Tax Description
    A173 J CAMPBELL SURVEY, TRACT 4, ACRES 7.249
    Tax Annual Amount
    1060

    We can help!

    Listing Contact
    Teresa Burt
    Teresa Burt

    Listing agent Teresa Burt License #0687636

    Listing office Keller Williams Legacy TX

    Listing date May 20, 2026

    MLS# 20960230 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

    • Blank canvas to build your dream home.
    • Located in Chisum ISD.
    • Water meter on property.
    • Pond on property.
    • Fenced on 3 sides.

    Overview

    This 7.249-acre property is located in Paris, Texas. The land is fenced on three sides and includes a pond. A water meter is already installed on the property. The property is located within the Chisum Independent School District, presenting an opportunity to build a home.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Paris
    County
    Lamar
    State
    Texas
    Longitude
    -95.6385085
    Latitude
    33.5889496

    Nearby Similar for Sale

    • $875,000
      15,040 SF

      Light Industrial and Office Campus

      Multi-building industrial campus with office space, clear-span covered storage, and crane-equipped shop on acreage.
      2620 Farm Road 79, Paris, TX 75460
      View Details
    • $895,000

      Former Day Care to Multi-Use Building

      A former daycare with private room layout and multiple support spaces, well-suited for community, service, or suite-style uses.
      1905 E Price Street, Paris, TX 75460
      View Details
    • $495,000
      4,560 SF

      High-Traffic Commercial Building

      A versatile commercial building offering multiple use options with over 31,000 vehicles passing daily.
      2280 NE Loop 286, Paris, TX 75460
      View Details
    • $1,200,000

      Turn-Key Tire Shop with Shop Equipment

      Acquire a ready-to-operate tire shop including essential equipment, tools, and an on-hand tire inventory.
      2038 N Main Street, Paris, TX 75460
      View Details
    • $1,080,000

      Tenant-Occupied Office Building

      Commercial office building with a flexible suite layout and strong parking improvements, currently under tenant occupancy.
      2625 S Church, Paris, TX 75460
      View Details
    • $700,000

      Entertainment Lounge and Event Venue

      Turnkey lounge and entertainment facility with a fully equipped interior and large parking lot for ongoing operations or redevelopment.
      1734 N Main Street, Paris, TX 75460
      View Details
    • $899,900

      Turnkey Restaurant with Patio

      Turnkey restaurant setup with hoods and coolers, plus large patio and dining rooms built for high-volume service.
      1260 Clarksville Street, Paris, TX 75460
      View Details
    • $3,650,000

      Multi-Tenant Warehouse and Office Hub

      Updated office suites and flexible warehouse configurations offer a strong platform for regional operations and growth.
      3790 Lamar Avenue, Paris, TX 75462
      View Details
    • $619,900

      Modern Retail Building with Expansion

      Built in 2021 on a high-traffic corridor, this versatile retail building supports multiple concepts and immediate occupancy.
      3258 E US Highway 82, Paris, TX 75462
      View Details
    • $649,000

      Light Commercial Flex Building

      Updated flex building on over two acres with ample parking, high ceilings, and light commercial zoning for varied business uses.
      2301 N Main Street, Paris, TX 75460
      View Details
    • $495,000
      4,560 SF

      Paris, TX Commercial Building

      Commercial building for sale on NE Loop, Paris, TX.
      2280 Loop 286, Paris, TX 75460
      View Details
    • $579,000

      Former Restaurant with Multiple Access Points

      Former restaurant site with exceptional traffic visibility and convenient access from multiple streets for easy customer flow.
      350 NW 1st, Paris, TX 75460
      View Details

    FAQs

    What type of property is this?
    Land - 7.249 acre lot with pond and water meter.
    Where is this land located?
    The property is located at FM 1506 Paris, TX.
    What is the asking price?
    The asking price for this property is $105,000.
    What are key features of this property?
    This property features: Blank canvas to build your dream home.; Located in Chisum ISD.; Water meter on property.
    (972) 599-7000
    We can help!
    Listing Contact
    Teresa Burt
    Teresa Burt
    Real Estate License ID: 0687636
    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 1506, Paris, TX 75460
    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!