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    Property profile & analytics

    B Greenville, TX 75402

    • Commercial real estate
    • 5.33 lot acres
    For Sale
    View listing
    $159,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for B

    Lot size
    5.33 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 5.33-acre tract presents a unique investment opportunity in the thriving Greenville, Texas community, served by the Lone Oak Independent School District. The property boasts gently rolling terrain and is currently undeveloped, offering considerable flexibility for future development. Strategically located just outside Greenville city limits, this land provides convenient access to major transportation arteries. It's a mere one mile from Highway 69, two miles from State Highway 34, and a short four-mile drive to Interstate 30, ensuring seamless connectivity throughout the region. The property's proximity to L3 Harris, a Fortune 500 company employing over 50,000 people, underscores its location within a robust and expanding job market. The seller is offering the option to purchase the entire 16-acre parcel, or to acquire this specific 5.33-acre lot. Alternatively, an 11.67-acre portion is also available for purchase. This presents a rare chance to secure land in a rapidly growing area with exceptional access to major roadways and a strong employment base. The possibilities for development are significant, making this an attractive proposition for investors and developers alike. The asking price for this 5.33-acre lot is $159,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Hunt
    State
    Texas
    Longitude
    -96.1099
    Latitude
    33.0621

    Comparable in this City

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      $1,880,000
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      4915 State Hwy 34th S

      COMMERCIAL (GENERAL) • 14,950 SF
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    • Value Estimation
      $1,485,000
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      5403 State Hwy 69th S

      COMMERCIAL (GENERAL) • 11,000 SF
      5403 State Hwy 69th S, Greenville, TX 75402
      View Details
    • Value Estimation
      $1,080,000
      7,514 SF

      5906 Wesley St

      COMMERCIAL (GENERAL) • 7,514 SF
      5906 Wesley St, Greenville, TX 75402-8968
      View Details

    Similar Nearby for Sale

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      12.00 Acres

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    Similar Nearby for Lease

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      3,100 SF

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      Greenville Warehouse, Manufacturing, Distribution Space

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      Greenville Warehouse and Office Space

      Office and warehouse space available for lease in Greenville, TX.
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    • Contact for pricing
      22,500 SF

      Retail Space in Greenville Center

      Retail space with high visibility and ample parking.
      6410 Wesley St, Greenville, TX 75402
      View Details
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    B
    Greenville, TX 75402
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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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