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    377 Fm 2959 Hillsboro, TX 76645
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    377 Fm 2959 Hillsboro, TX 76645

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    • Commercial land
    • 869,457 SF
    For Sale
    $975,000
    View Listing →
    Prime Commercial Land I-35W Frontage For Sale
    $975,000
    869,457 SF

    Prime Commercial Land I-35W Frontage

    Commercial land with I-35W frontage and truck stop potential.

    377 FM 2959, Hillsboro, TX 76645
    View Listing
    Property ID
    US82-6484707
    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

    • Commercial land

    Property Details for 377 Fm 2959

    Property size
    869,457 SF
    Property type
    Commercial land
    Property subtype
    Truck stops

    Description

    Commercial property with over 2900 feet of road frontage off of I35W and FM 2959. Seller has complete feasibility study and engineering plans for a truck stop that will be included in the sale. Concrete cut in has been poured on FM 2959. Great visibility from north and south traffic on I35W for signage. This complete package is ready for the investor or entrepreneur to break ground.

    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
    Hillsboro
    County
    Hill
    State
    Texas
    Longitude
    -97.11157
    Latitude
    32.09689

    Comparable in this City

    • $975,000
      19.97 Acres

      Hillsboro Land Ready For Development

      19.97 acre commercial site off I-35W near Hillsboro, TX.
      377 Fm 2959, Hillsboro, TX 76645
      View Details
    • Contact for pricing
      3,244 SF

      Hillsboro Retail/Automotive Property Available

      3,244 SF building on 0.77 acres in Hillsboro, TX.
      1406 Corsicana Hwy, Hillsboro, TX 76645
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    • $124,500
      5.66 Acres

      Unrestricted Land Near I-35

      5.6 acres of unrestricted land less than a mile from I-35.
      Tbd Private Rd 485, Hillsboro, TX 76645
      View Details
    • $3,200,000
      10.84 Acres

      Prime Land for Commercial Development

      10.8-acre property ideal for retail, medical, and hospitality developments.
      Tbd Corsicana Hwy, Hillsboro, TX 76645
      View Details
    • Contact for pricing

      Development Land For Sale

      Land suitable for development, retirement home, hotels, and businesses.
      Outlet Dr, Hillsboro, TX 76645
      View Details
    • $1,219,680
      7.00 Acres

      Hillsboro Land Near I-35

      7 acres of land near I-35 in Hillsboro, Texas.
      Tbd Outlet Dr, Hillsboro, TX 76645
      View Details

    Similar Nearby for Sale

    • $975,000
      19.97 Acres

      Hillsboro Land Ready For Development

      19.97 acre commercial site off I-35W near Hillsboro, TX.
      377 Fm 2959, Hillsboro, TX 76645
      View Details
    • Contact for pricing
      3,244 SF

      Hillsboro Retail/Automotive Property Available

      3,244 SF building on 0.77 acres in Hillsboro, TX.
      1406 Corsicana Hwy, Hillsboro, TX 76645
      View Details
    • $124,500
      5.66 Acres

      Unrestricted Land Near I-35

      5.6 acres of unrestricted land less than a mile from I-35.
      Tbd Private Rd 485, Hillsboro, TX 76645
      View Details
    • $3,200,000
      10.84 Acres

      Prime Land for Commercial Development

      10.8-acre property ideal for retail, medical, and hospitality developments.
      Tbd Corsicana Hwy, Hillsboro, TX 76645
      View Details
    • Contact for pricing

      Development Land For Sale

      Land suitable for development, retirement home, hotels, and businesses.
      Outlet Dr, Hillsboro, TX 76645
      View Details
    • $1,219,680
      7.00 Acres

      Hillsboro Land Near I-35

      7 acres of land near I-35 in Hillsboro, Texas.
      Tbd Outlet Dr, Hillsboro, TX 76645
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      IH-35 Pad Site Available

      1.479 acre commercial pad site for lease.
      1.479 Acres On Tbd Ih35, Hillsboro, TX 76645
      View Details
    • $2,000 /Mo
      174,240 SF

      Hillsboro Industrial Land for Lease

      4 acres of industrial land in Hillsboro, Texas.
      117 Industrial Loop, Hillsboro, TX 76645
      View Details
    • Contact for pricing

      Land with IH-35 Frontage

      Commercial land for lease with excellent IH-35 access.
      80 N Waco St, Hillsboro, TX 76645
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, 7,958 SqFt, Hillsboro, Texas.
      226 S Waco St, Hillsboro, TX 76645
      View Details
    • $1,600 /Mo
      3,180 SF

      Downtown Hillsboro Commercial Property For Rent

      Remodeled commercial property in downtown Hillsboro, suitable for various businesses.
      231 E Elm St, Hillsboro, TX 76645
      View Details
    • Contact for pricing

      Retail Complex Near Walmart

      Retail complex with easy access to highways and Walmart.
      305 Coke St, Hillsboro, TX 76645
      View Details
    View Listing
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    Hillsboro, TX 76645
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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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