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    324 Nocona Dr Nocona, TX 76255
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    324 Nocona Dr Nocona, TX 76255

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    • Commercial real estate
    Off-Market
    Property ID
    US82-6595860
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • H3 Ministries / Association Or Organization

    Property Details for 324 Nocona Dr

    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity encompasses a sprawling 1,500-acre gated community in Nocona, Texas, offering a unique blend of residential and commercial potential. The property includes over 500 prime residential lots, categorized as lakefront, golf course, airstrip, and leisure lake properties, catering to a diverse range of lifestyles. In addition to the residential lots, there are also 3-acre and 9-acre commercial parcels available within the gated community, presenting significant development opportunities. The existing infrastructure includes a private marina and an 18-hole golf course, enhancing the overall appeal and value of the property. Located in Montague County, Texas, with easy access via Nocona Dr, zip code 76255, this property is ideally situated to capitalize on the growing demand for residential and commercial development in a desirable Texas location. The asking price is $9,449,000, and the sale is structured to facilitate a 1031 exchange. This presents a rare chance to acquire a large-scale development project in a picturesque setting, offering a diverse range of development possibilities for discerning investors. The property's location, amenities, and existing infrastructure combine to create a compelling investment opportunity with significant long-term growth potential. This is an ideal project for developers seeking to create a signature development in a thriving Texas community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Nocona
    County
    Montague
    State
    Texas
    Longitude
    -97.651075
    Latitude
    33.8460796

    Comparable in this City

    • $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
    • Contact for pricing
      140,000 SF

      Seven Warehouses on 11.92 Acres

      Seven warehouses totaling 140,000 SF on 11.92 acres.
      Us Highway 82, Nocona, TX 76255
      View Details
    • Contact for pricing
      140,000 SF

      Seven Warehouse Industrial Opportunity

      Seven 20,000 SF warehouses on 11.92 acres near Nocona, TX.
      00 Us Highway 82, Nocona, TX 76255
      View Details
    • New
      $600,000
      3,900 SF

      Downtown Nocona Office Building For Sale

      Versatile office building in downtown Nocona, ideal for various businesses.
      201 Clay St, 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
      0.50 Acres

      Nocona Hills Golf Course Land

      Residential land on golf course with mature trees and amenities.
      141 Diamond Oaks Dr, Nocona, TX 76255
      View Details

    Similar Nearby for Sale

    • $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
    • Contact for pricing
      140,000 SF

      Seven Warehouses on 11.92 Acres

      Seven warehouses totaling 140,000 SF on 11.92 acres.
      Us Highway 82, Nocona, TX 76255
      View Details
    • Contact for pricing
      140,000 SF

      Seven Warehouse Industrial Opportunity

      Seven 20,000 SF warehouses on 11.92 acres near Nocona, TX.
      00 Us Highway 82, Nocona, TX 76255
      View Details
    • New
      $600,000
      3,900 SF

      Downtown Nocona Office Building For Sale

      Versatile office building in downtown Nocona, ideal for various businesses.
      201 Clay St, 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
      0.50 Acres

      Nocona Hills Golf Course Land

      Residential land on golf course with mature trees and amenities.
      141 Diamond Oaks Dr, Nocona, TX 76255
      View Details

    Similar Nearby for Lease

    • $1,495 /Mo
      3,441 SF

      Furnished Restaurant in Downtown Nocona

      Fully furnished restaurant with equipment in downtown Nocona, Texas.
      204 Clay St, Nocona, TX 76255
      View Details
    • Contact for pricing
      2,400 SF

      Established Gas Station Convenience Store

      Operating convenience store and gas station with high visibility.
      309 Highway 82 E, 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
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    324 Nocona Dr
    Nocona, TX 76255
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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.

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