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    55 Heritage Rd Gordonville, TX 76245

    • Commercial real estate
    • 4,000 SF
    • 8.00 lot acres
    For Sale
    View listing
    $999,999
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5315387
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 55 Heritage Rd

    Year built
    1985
    Lot size
    8.00 lot acres
    Property size
    4,000 SF
    Property type
    Commercial real estate

    Description

    This exceptional 4,000-square-foot mixed-use property, located at 55 Heritage Rd, Gordonville, TX 76245, presents a unique investment opportunity. Situated on eight acres of land in Grayson County, this single-story, 1985-built building boasts over 870 feet of Highway 377 frontage. Currently configured as commercial office space, the property is unzoned, offering unparalleled flexibility for diverse uses. The building features six office spaces, two bathrooms, a full kitchen, a large conference room, and two general-purpose seating areas. Recent upgrades include new plumbing fixtures (2022), a security system with cameras, and spray foam insulation throughout the roofline. The property also includes six fully stocked ponds (easily filled in), a co-op water supply, two water wells for irrigation, and a fenced yard. Three holding tanks are located in the garage. All existing furniture is included in the sale. The property's prime location offers easy access to Lake Texoma, major marinas, casinos, and wineries. Asking price is $999,999, with a price per square foot of $250.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gordonville
    County
    Grayson
    State
    Texas
    Longitude
    -96.8742788
    Latitude
    33.7985196

    Comparable in this City

    • $1,400,000
      58.74 Acres

      Texas Ranch: 58 Acres Near Lake Texoma

      Prime Hunting & Recreational Land, $1.4M
      305 Stuckey Rd, Gordonville, TX 76245
      View Details
    • $79,500

      Lake Texoma RV Ready Lots

      Three lots near Lake Texoma with utilities and ample space.
      64 Richard Dr, Gordonville, TX 76245
      View Details
    • $65,000
      0.37 Acres

      Premium Lot in Wynstone

      Expansive views, mature trees, and resort-style amenities included.
      30 S Oakmont Ct, Gordonville, TX 76245
      View Details
    • $146,900
      0.55 Acres

      Residential Land in Castle Pines

      Oversized lot in Castle Pines subdivision at Rock Creek.
      1173 Castle Pines Cir, Gordonville, TX 76245
      View Details
    • $171,900
      0.32 Acres

      Residential Land in Castle Pines

      Wooded lot in Rock Creek's Castle Pines subdivision.
      587 Coyote Spg Ct, Gordonville, TX 76245
      View Details
    • $181,900
      0.61 Acres

      Residential Land in Castle Pines

      Oversized lot near amenities in Rock Creek subdivision.
      537 Castle Pines Cir, Gordonville, TX 76245
      View Details

    Similar Nearby for Sale

    • $1,400,000
      58.74 Acres

      Texas Ranch: 58 Acres Near Lake Texoma

      Prime Hunting & Recreational Land, $1.4M
      305 Stuckey Rd, Gordonville, TX 76245
      View Details
    • $79,500

      Lake Texoma RV Ready Lots

      Three lots near Lake Texoma with utilities and ample space.
      64 Richard Dr, Gordonville, TX 76245
      View Details
    • $65,000
      0.37 Acres

      Premium Lot in Wynstone

      Expansive views, mature trees, and resort-style amenities included.
      30 S Oakmont Ct, Gordonville, TX 76245
      View Details
    • $146,900
      0.55 Acres

      Residential Land in Castle Pines

      Oversized lot in Castle Pines subdivision at Rock Creek.
      1173 Castle Pines Cir, Gordonville, TX 76245
      View Details
    • $171,900
      0.32 Acres

      Residential Land in Castle Pines

      Wooded lot in Rock Creek's Castle Pines subdivision.
      587 Coyote Spg Ct, Gordonville, TX 76245
      View Details
    • $181,900
      0.61 Acres

      Residential Land in Castle Pines

      Oversized lot near amenities in Rock Creek subdivision.
      537 Castle Pines Cir, Gordonville, TX 76245
      View Details
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    55 Heritage Rd
    Gordonville, TX 76245
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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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