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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    103 Wesley Dr Palestine, TX 75801

    • Commercial real estate
    For Lease
    View listing
    $1.50 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5682618
    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 103 Wesley Dr

    Property type
    Commercial real estate

    Description

    This exceptional commercial land opportunity in Palestine, Texas, presents a unique investment prospect. Located at 103 Wesley Drive, this 67,598 square foot parcel boasts a prominent 185-foot frontage. The property's zoning is designated as Commercial, allowing for a wide range of development possibilities. Situated in a high-traffic area, the site benefits from its proximity to major national retailers including Walmart Supercenter, ALDI, Walgreens, Hobby Lobby, Starbucks, Panda Express, Applebee's, and Wendy's, ensuring significant visibility and pedestrian traffic. The property is ideal for a ground lease or outright purchase. Taxes are a competitive $0.05 per square foot. The address is 103 Wesley Dr, Palestine, TX 75801, conveniently located near the Loop 256 cross street. This location offers unparalleled access and exposure, making it an exceptional opportunity for businesses seeking a high-visibility presence in a thriving retail environment. The single-tenant configuration provides flexibility and control. This is a rare chance to acquire a prime commercial property in a rapidly growing area.

    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
    Palestine
    County
    Anderson
    State
    Texas
    Longitude
    -95.613174940549
    Latitude
    31.733330306333

    Comparable in this City

    • $450 /Mo
      13,242 SF

      Commercial Lot For Lease

      Vacant commercial lot for lease in Palestine, Texas.
      217 W Palestine Ave, Palestine, TX 75801
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    • Contact for pricing
      45,923 SF

      Palestine Shopping Center: Retail Opportunity

      High-visibility retail space in Palestine, TX.
      330 Spring St, Palestine, TX 75801
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    • $5,492 /Mo
      34,412 SF

      Premium Office Building For Lease

      Modern office building with high visibility and flexible workspace.
      324 E Palestine Ave, Palestine, TX 75801
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    • Contact for pricing
      2,590 SF

      Wendy's Restaurant - Palestine, TX

      High-Traffic QSR, Drive-Thru Potential
      2215 Tx-256 Loop, Palestine, TX 75801
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    • $5,500 /Mo
      37,984 SF

      Updated Office Building with Storage

      Move-in ready office space with ample storage and parking.
      901 N Mallard St, Palestine, TX 75801
      View Details
    • $8,280 /Mo
      13,800 SF

      Palestine Office/Warehouse Space Available

      Large office/warehouse with semi-truck access in Palestine, Texas.
      2500 Tile Factory Rd, Palestine, TX 75801
      View Details

    Similar Nearby for Sale

    • $625,000
      2.90 Acres

      Prime Palestine Commercial Land

      High-visibility Loop 256 lot, 2.9 acres.
      3315 Loop 256, Palestine, TX 75801
      View Details
    • $250,000
      1.75 Acres

      Prime Palestine Commercial Land

      1.75 Acres, High Traffic, C-4 Zoning
      3323 Tx 256 Loop, Palestine, TX 75801
      View Details
    • $2,750,000
      7.00 Acres

      TBD S Loop 256

      Land • 7.00 Acres
      256 Tbd Loop, Palestine, TX 75801
      View Details
    • Contact for pricing

      Corner Lot in Palestine, TX

      Corner lot available for sale in Palestine, Texas.
      Walton St, Palestine, TX 75801
      View Details
    • $185,000
      20.69 Acres

      Commercial Land on Loop 256

      20+ acres of commercial land with high traffic frontage.
      000 Hwy 155 N, Palestine, TX 75801
      View Details
    • $479,000
      34.00 Acres

      34 Acres with Pond and Home

      34-acre property with pond, home, and AG exemption in Elkhart ISD.
      Tbd Fm 2419, Palestine, TX 75801
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    Similar Nearby for Lease

    • $450 /Mo
      13,242 SF

      Commercial Lot For Lease

      Vacant commercial lot for lease in Palestine, Texas.
      217 W Palestine Ave, Palestine, TX 75801
      View Details
    • Contact for pricing
      45,923 SF

      Palestine Shopping Center: Retail Opportunity

      High-visibility retail space in Palestine, TX.
      330 Spring St, Palestine, TX 75801
      View Details
    • $5,492 /Mo
      34,412 SF

      Premium Office Building For Lease

      Modern office building with high visibility and flexible workspace.
      324 E Palestine Ave, Palestine, TX 75801
      View Details
    • Contact for pricing
      2,590 SF

      Wendy's Restaurant - Palestine, TX

      High-Traffic QSR, Drive-Thru Potential
      2215 Tx-256 Loop, Palestine, TX 75801
      View Details
    • $5,500 /Mo
      37,984 SF

      Updated Office Building with Storage

      Move-in ready office space with ample storage and parking.
      901 N Mallard St, Palestine, TX 75801
      View Details
    • $8,280 /Mo
      13,800 SF

      Palestine Office/Warehouse Space Available

      Large office/warehouse with semi-truck access in Palestine, Texas.
      2500 Tile Factory Rd, Palestine, TX 75801
      View Details
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    103 Wesley Dr
    Palestine, TX 75801
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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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