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

    3315 Loop 256 S Palestine, TX 75801

    • Commercial land
    • 2.94 lot acres
    For Sale
    View listing
    $595,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-8607792
    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 land

    Property Details for 3315 Loop 256 S

    Lot size
    2.94 lot acres
    Property type
    Commercial land
    APN
    R838280
    APU
    R838280

    Description

    This exceptional 2.9-acre commercial land parcel presents a remarkable opportunity for businesses seeking high visibility and accessibility in Palestine, Texas. Located at 3315 S Loop 256, this property boasts an impressive 268 feet of frontage directly on the busy Loop 256, ensuring significant daily exposure to over 18,000 vehicles. The strategic location places your business in the heart of Palestine's Medical and Business District, providing convenient access to a thriving customer base. The lot offers both front and rear street access, with an existing shared access driveway off Loop 256 and access to Gillespie Road at the rear, enhancing operational efficiency and logistical ease. Zoned C-4, this property is ideal for a wide range of commercial ventures. The asking price is $625,000. Don't miss this chance to establish your presence in a high-traffic, prime commercial location within a dynamic and growing community. This 2.9-acre lot provides ample space for development and significant potential for return on investment. Act quickly – this opportunity won't last.

    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
    -95.6334
    Latitude
    31.7374
    CBSA code
    37300
    CBSA name
    PALESTINE, TX MICROPOLITAN STATISTICAL AREA

    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
    $9,347
    $364,063
    $0.00
    $364,063
    -
    $364,063
    $0.00
    $364,063

    Comparable in this City

    • Value Estimation by Request
      7.77 Acres

      Loop 256

      VACANT COMMERCIAL LAND • 7.77 Acres
      Loop 256, Palestine, TX 75801
      View Details
    • Value Estimation by Request
      0.64 Acres

      2107 Oak St

      VACANT COMMERCIAL LAND • 0.64 Acres
      2107 Oak St, Palestine, TX 75801-4048
      View Details
    • Value Estimation by Request
      1.83 Acres

      1701 Oak St

      VACANT COMMERCIAL LAND • 1.83 Acres
      1701 Oak St, Palestine, TX 75801
      View Details
    • Value Estimation by Request
      0.75 Acres

      305 Palestine Ave

      VACANT COMMERCIAL LAND • 0.75 Acres
      305 Palestine Ave, Palestine, TX 75801-7533
      View Details
    • Value Estimation by Request
      2.52 Acres

      1016 Palestine Ave

      VACANT COMMERCIAL LAND • 2.52 Acres
      1016 Palestine Ave, Palestine, TX 75801-7312
      View Details
    • Value Estimation by Request
      3.96 Acres

      Royall St

      VACANT COMMERCIAL LAND • 3.96 Acres
      Royall St, Palestine, TX 75801
      View Details

    Similar Nearby for Sale

    • $427,200
      53.40 Acres

      53 Acres on Loop

      53 acres of land suitable for commercial or residential development.
      5030 Salt Works Rd, Palestine, TX 75801
      View Details
    • $249,000

      Commercial Tract at Highway Intersection

      2+ acre commercial land at a busy intersection.
      409 E Palestine Ave, Palestine, TX 75801
      View Details
    • New
      $495,000
      5.55 Acres

      Commercial Land with Loop Frontage

      Corner lot with high visibility and highway commercial zoning.
      3500 S Lp 256, 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
    • $650,000
      9.53 Acres

      Palestine, TX Commercial Opportunity

      Large municipal auditorium with commercial acreage in high-traffic location.
      1819 W Spring St, Palestine, TX 75801
      View Details
    • Contact for pricing
      0.17 Acres

      Corner Lot in Palestine, TX

      Level corner lot zoned for mixed-use residential in Palestine, TX.
      719 South St, Palestine, TX 75801
      View Details

    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
    • $1.50 SF/Yr
      67,598 SF

      Prime Palestine Commercial Land

      High-traffic location, 1.54 acres.
      103 Wesley Dr, 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
      40,000 SF

      Willow Creek Medical Office Suites

      Class A Medical Office Space in Palestine, TX
      300 Willow Creek Pkwy, Palestine, TX 75801
      View Details
    • $2,246 /Mo
      55,757 SF

      Office Space in Palestine Town

      2,450 SF office space available for lease near Kroger.
      321 E Spring St, Palestine, TX 75801
      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.
    3315 Loop 256 S
    Palestine, TX 75801
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.