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    Commercial Development Land with Hard Corner Title is generated by Realmo AI

    HWY 289, Gunter, TX 75058

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    Claim this Listing
    For Sale
    $1,800,000

    LAND - Gunter, TX

    Lot size:
    11.00 Acres
    Added:
    Apr 13, 2026
    Days on Market:
    52
    Last Refresh:
    Jun 3 at 4:06 am

    Property Features for HWY 289

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded
    Standard status
    Active
    APN
    214082
    Lot size
    11.00 Acres

    Taxes and HOA fees

    Tax Description
    G-0966 PERRY D A-G0966, ACRES 8.08
    Tax Annual Amount
    8

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Sara Jerome
    Sara Jerome

    Listing agent Sara Jerome License #0630971

    Listing office Vincent Realty Group Tom Bean, TX

    Listing date Apr 13, 2026

    MLS# 20186906 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

    • 11‑acre development tract with commercial potential on Preston Rd (Hwy 289/Preston Rd) with approx. 740 ft of frontage
    • Additional access/frontage on Reed Rd with approx. 700 ft frontage at a hard corner on Hwy 289
    • Inside the city limits; located a few minutes north of the middle of Gunter
    • Water available via an 8‑inch water line on the northwest side of Reed Rd and 289 (confirmed through Maverick Utilities; under Reed bore required)
    • Natural features include a small pond, creek, and hardwood trees
    • Potential for commercial, residential, or multifamily community development (buyer to confirm zoning, usage, easements, and flood plain)

    Overview

    This 11-acre property presents multiple development paths with a mix of natural features and practical site attributes. The tract includes a small pond, a creek, and hardwood trees, offering character while still leaving room for planning. A hard corner on Hwy 289 provides a prominent location for future site design, and the property is within city limits.

    The land is positioned along Preston Road with approximately 740 feet of frontage on Hwy 289/Preston Rd, plus approximately 700 feet of frontage on Reed Road. Water is available, and an 8-inch water line is located on the northwest side of Reed Rd and 289, confirmed through Maverick Utilities, with development requiring an under-Reed bore. The seller notes the buyer is responsible for confirming zoning, road extensions, usage, utilities, easements, and flood plain details.

    With its scale, visibility, and utility availability, the site can be considered for commercial development as well as residential or multifamily community concepts, subject to approvals. Buyers and brokers will likely view this as a fit for operators seeking a corridor-style location with frontage on two roads and a hard-corner orientation, balanced by natural site elements that may influence layout and stormwater planning.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Gunter
    County
    Grayson
    State
    Texas
    Longitude
    -96.742627
    Latitude
    33.44648

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    FAQs

    What type of property is this?
    Commercial land - 11-acre tract offers highway frontage, a hard corner, and water access for commercial or residential development planning.
    Where is this commercial land located?
    The property is located at HWY 289 Gunter, TX.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: 11‑acre development tract with commercial potential on Preston Rd (Hwy 289/Preston Rd) with approx. 740 ft of frontage; Additional access/frontage on Reed Rd with approx. 700 ft frontage at a hard corner on Hwy 289; Inside the city limits; located a few minutes north of the middle of Gunter
    (903) 870-8528
    We can help!
    Listing Contact
    Sara Jerome
    Sara Jerome
    Real Estate License ID: 0630971
    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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