Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    115 Walnut St Nocona, TX 76255

    • Commercial real estate
    • 17,248 SF
    OFF-MARKET
    Value Estimations
    $1,045,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-8096965
    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 115 Walnut St

    Year built
    1955
    Property size
    17,248 SF
    Property type
    Commercial real estate
    APN
    R000003117
    APU
    R000003117

    Description

    This exceptional mixed-use property in Nocona, Texas, presents a unique investment opportunity. Located at 115 W Walnut St, this 35,954 square foot property sits on a 0.624-acre lot and offers remarkable versatility. The property comprises two buildings: a 17,248 square foot structure built in 1955 and a 18,706 square foot addition constructed in 2014. Previously housing a renowned car museum, the space boasts impressive features including retractable doors on three sides, level floors, handicap-accessible restrooms, abundant natural light, and eye-catching neon lighting. The interconnected buildings can be easily separated to suit various needs. Its prime location offers excellent walkability to the historic downtown area and convenient access to US Highway 82. The asking price is $1,200,000. Exterior signage is negotiable separately. This property is zoned for mixed-use purposes, including auto shop, religious/church, and storefront uses. The property's adaptable design and prime location make it ideal for a variety of businesses seeking a unique and spacious location in a revitalizing Texas town. This is a chance to capitalize on a property with significant potential in a growing community.

    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
    Nocona
    County
    Montague
    State
    Texas
    Longitude
    -97.7288
    Latitude
    33.7899

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $15,779
    $48,600
    $757,930
    $806,530
    -
    $48,600
    $757,930
    $806,530

    Comparable in this City

    • Value Estimation by Request
      2,559 SF

      510 Hwy 82

      COMMERCIAL (GENERAL) • 2,559 SF
      510 Hwy 82, Nocona, TX 76255-2528
      View Details
    • Value Estimation by Request
      3,977 SF

      1408 Us Hwy 82nd W

      COMMERCIAL (GENERAL) • 3,977 SF
      1408 Us Hwy 82nd W, Nocona, TX 76255-6474
      View Details
    • Value Estimation by Request
      3,840 SF

      111 Walnut St

      COMMERCIAL (GENERAL) • 3,840 SF
      111 Walnut St, Nocona, TX 76255-2139
      View Details
    • Value Estimation by Request
      1,789 SF

      355 Oak Shrs Rd

      COMMERCIAL (GENERAL) • 1,789 SF
      355 Oak Shrs Rd, Nocona, TX 76255-0920
      View Details
    • Value Estimation by Request
      1,280 SF

      82 Ww Ct

      COMMERCIAL (GENERAL) • 1,280 SF
      82 Ww Ct, Nocona, TX 76255-0953
      View Details
    • Value Estimation by Request
      2,400 SF

      310 Cedar St

      COMMERCIAL (GENERAL) • 2,400 SF
      310 Cedar St, Nocona, TX 76255-2702
      View Details

    Similar Nearby for Sale

    • $995,000
      9,245 SF

      Nocona Boutique Hotel - Prime Location

      Historic Downtown Nocona Inn - Turnkey Opportunity
      219 Clay St, Nocona, TX 76255
      View Details
    • $225,000
      13.78 Acres

      Nocona, TX Unimproved Land

      13.78 acres in Montague County ready to build.
      6334 Barrel Spring Rd, Nocona, TX 76255
      View Details
    • $106,000
      3.03 Acres

      Nocona, TX Unimproved Land

      3.03-acre property with views, trees, and creek.
      Tbd Red Oak Hl, Nocona, TX 76255
      View Details
    • $39,500
      0.27 Acres

      Nocona, TX Golf Course Lot

      Heavily treed lot in Nocona Hills near golf course.
      125 Diamond Oaks Dr, Nocona, TX 76255
      View Details
    • $876,000
      8.48 Acres

      Waterfront Land with Lake Views

      8.48 acres of waterfront land with commercial potential.
      117 Conejos Dr, Nocona, TX 76255
      View Details
    • $445,000

      Nocona Commercial Building with Open Space

      7400 SF commercial building with 7 overhead doors.
      210 W Walnut St, Nocona, TX 76255
      View Details

    Similar Nearby for Lease

    • $1,695 /Mo
      3,441 SF

      Furnished Restaurant Space in Nocona

      Fully furnished restaurant space in downtown Nocona, seats up to 70.
      204 Clay St, Nocona, TX 76255
      View Details
    • $3,500 /Mo
      25,308 SF

      Established Convenience Store Gas Station

      Operating convenience store-gas station with high visibility and growth potential.
      309 Highway 82 E, Nocona, TX 76255
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    115 Walnut St
    Nocona, TX 76255
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.