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    931 Pearl St Granbury, TX 76048

    • Commercial real estate
    • 3.59 lot acres
    For Sale
    View listing
    $5,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1312090
    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 931 Pearl St

    Lot size
    3.59 lot acres
    Property type
    Commercial real estate
    APN
    R000043470

    Description

    This exceptional 3.587-acre commercial land parcel in Granbury, Texas (APN R000043470), presents a unique investment opportunity. Located at 931 E Pearl St, 76048, this Light Commercial (LC) zoned property boasts a prime location at the entry to the historic downtown district, within walking distance of the town square and adjacent to a convention center and hotel. The site offers unparalleled waterfront access to the river, ideal for a large-scale entertainment and dining complex. Current plans envision a multifaceted development including a 30,000 square foot restaurant with riverfront dining, multiple indoor and outdoor stages for live music, a distillery/brewery, beer garden, various dining options, boat docks (28), a drive-thru boat dock service, a dance hall, beach area, VIP dining dock, wedding chapel, boardwalks, splash pads, fire pits, and valet parking. All utilities are available: city water (8" PVC/70 psi), city sewer (8" PVC), city storm drainage (open channel to river, no detention required), Tri County 3-phase electric, and Atmos gas (4" poly, 30 psi). High-speed internet is also available via Charter Spectrum and fiber optic. This property is suited for a 1031 exchange. The property's strategic location and existing zoning ensure a consistent and valuable asset for future development. The potential for high revenue generation is significant, making this a truly irreplaceable opportunity.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Granbury
    County
    Hood
    State
    Texas
    Longitude
    -97.771288201869
    Latitude
    32.443514910382

    Comparable in this City

    • Contact for pricing

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      Granbury Commercial Land For Sale

      Unimproved commercial land on US Hwy 377 near Granbury Airport.
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      Waterfront Lot with Boat Dock

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      Granbury Land Development Opportunity

      4.72-acre parcel with development potential in high-traffic location.
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    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $400 /Mo

      Charming Furnished Office Space Available

      Quaint, furnished office space with utilities and Wi-Fi included.
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      View Details
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      Warehouse For Rent Granbury, TX

      Warehouse space available for lease in Granbury, Texas.
      2006 Bobby Ln, Granbury, TX 76048
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      Office Warehouse Near Granbury Square

      Flex warehouse with offices near Granbury square for lease.
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      Unfinished Retail Space Available

      Unfinished retail space with high traffic location.
      2801 B Weatherford Hwy, Granbury, TX 76048
      View Details
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    931 Pearl St
    Granbury, TX 76048
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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.

    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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