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    Property profile & analytics

    E 15Th St Hereford, TX 79045

    • Commercial real estate
    • 9.81 lot acres
    For Sale
    View listing
    $215,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5716762
    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 E 15Th St

    Lot size
    9.81 lot acres
    Property type
    Commercial real estate
    APN
    920479

    Description

    This exceptional 9.813-acre commercial land parcel presents a unique investment opportunity in Hereford, Texas. Strategically located between the Walmart Supercenter and Hereford Regional Medical Center, this level tract boasts high visibility and accessibility. The property features 308 feet of frontage along West 15th Street, providing ample space for development. A significant advantage is the 1442-foot private entrance offering potential for medical office development adjacent to the hospital. The location benefits from proximity to other established businesses, including Tractor Supply and Whiteface Ford, ensuring a strong retail presence in the immediate vicinity. Furthermore, the area is served by local and regional educational institutions such as Amarillo Junior College and the Hereford ISD Administration building, contributing to a thriving community. The property's Commercial zoning allows for a wide range of development possibilities. The seller will consider subdividing the property to accommodate specific development needs. The asking price for this exceptional property is $275,000. The property's APN is 920479, and ownership is held by Rosedale International Ltd. This is a rare opportunity to acquire a significant commercial land holding in a growing Texas market.

    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
    Hereford
    County
    Deaf Smith
    State
    Texas
    Longitude
    -102.41202972651
    Latitude
    34.836810868636

    Comparable in this City

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      Land with Shop in Hereford

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      Residential Land in Yucca Hills

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      Hereford, TX Land For Sale

      Residential land in Yucca Hills, 5 miles from Walmart.
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      Land on S. Progressive Rd.

      Approximately 5 acres of land on pavement in Hereford, TX.
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    Similar Nearby for Sale

    • Contact for pricing
      0.14 Acres

      Residential Land in Hereford, TX

      Residential land available for building a home in Hereford, TX.
      1128 Sage St, Hereford, TX 79045
      View Details
    • $139,000
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      Land with Shop in Hereford

      5 acres of land with shop outside city limits.
      1241 S Jackson St, Hereford, TX 79045
      View Details
    • $30,000
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      Residential Land in Yucca Hills

      Land for sale in Yucca Hills, Hereford, Texas.
      26 Yucca Hills Dr, Hereford, TX 79045
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    • $30,000
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      Hereford, TX Land For Sale

      Residential land in Yucca Hills, 5 miles from Walmart.
      27 Yucca Hills Dr, Hereford, TX 79045
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      Land For Sale, Hereford, TX

      Commercial land available in Hereford, Texas.
      402 W Gracy St, Hereford, TX 79045
      View Details
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      Commercial Land in Hereford, TX

      Raw land at Highway 1259 & Highway 2943 intersection.
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    Similar Nearby for Lease

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      Commercial Land Near Walmart

      Commercial land for rent at main stoplight entrance.
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      Hereford Retail Center - 1st Street

      Prime Hereford Retail Space - High Visibility
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      Hereford Retail Center - Prime Location

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      Customizable Retail/Restaurant/Gym Space

      Up to 5,535 SF customizable commercial space available for rent.
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    • $22 SF/Yr
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      Retail Space in Walmart Outparcel

      4,160 SF retail space in a high-traffic Walmart outparcel.
      701 N 25 Mile Ave, Hereford, TX 79045
      View Details
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    Hereford, TX 79045
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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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