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    600 Turner Dr Palestine, TX 75803
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    600 Turner Dr Palestine, TX 75803

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    • Commercial real estate
    • 4,800 SF
    • 0.80 lot acres
    For Sale
    $150,000
    View Listing →
    Palestine Industrial Property - Great Potential For Sale
    $150,000
    4,800 SF

    Palestine Industrial Property - Great Potential

    Versatile industrial building, large lot, expansion opportunity.

    600 Turner Dr, Palestine, TX 75803
    View Listing
    Property ID
    US82-8298952
    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 real estate

    Property Details for 600 Turner Dr

    Lot size
    0.80 lot acres
    Property size
    4,800 SF
    Property type
    Commercial real estate
    APN
    18063

    Description

    This exceptional mixed-use property at 600 Turner Dr, Palestine, TX 75803, presents a compelling redevelopment opportunity. The 0.798-acre lot features two buildings totaling 4,800 square feet. The main building offers a warehouse area with two high garage doors, currently clean and functional. The office area requires roof repairs and interior remodeling. A separate 1,800 square foot storage building includes five 12'x30' units. Some entry doors need repair or replacement. The property is zoned UR-Urban Residential, permitting specific commercial uses (see provided zoning documents). Currently utilizing a conventional septic system, a city sewer connection cost estimate is available from the seller. This property's potential is further enhanced by the availability of an additional 1.179 acres (separate listing). The property's previous use was commercial, but current zoning necessitates a residential-oriented approach. This is an excellent chance to acquire a versatile property in a desirable location, ready for your vision and investment. The Anderson County location and the property's size make it ideal for a variety of uses, subject to local zoning regulations. The APN is 18063. The asking price is $150,000.

    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
    Palestine
    County
    Anderson
    State
    Texas
    Longitude
    -95.617200152176
    Latitude
    31.787812984877

    Comparable in this City

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      Commercial Acreage on US Highway

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      Commercial Land on High-Traffic Intersection

      Commercial land available at a high-traffic intersection in Palestine, TX.
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      Commercial Land on US Highway

      27-acre commercial land with high visibility and development potential.
      5210 S Us Highway 79, Palestine, TX 75803
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    • $219,631
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      Rolling Land Tract in Palestine

      25+ acre tract with utilities and owner financing.
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    • $219,963
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      Rolling Land Tract in Palestine

      25.88 acres with utilities, timber exemption, and owner financing.
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    • $498,500
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      Prime Commercial Land in Palestine, TX

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    Similar Nearby for Sale

    • $335,000
      27.67 Acres

      Commercial Acreage on US Highway

      27 acres with high visibility and development potential.
      5210 S Us Highway 79, Palestine, TX 75803
      View Details
    • $335,000
      27.67 Acres

      Commercial Land on US Highway

      27-acre commercial land with high visibility and development potential.
      5210 S Us Highway 79, Palestine, TX 75803
      View Details
    • $495,000
      0.55 Acres

      Commercial Land on High-Traffic Intersection

      Commercial land available at a high-traffic intersection in Palestine, TX.
      2016 W Oak St, Palestine, TX 75803
      View Details
    • $219,631
      25.84 Acres

      Rolling Land Tract in Palestine

      25+ acre tract with utilities and owner financing.
      9 An County Road 443, Palestine, TX 75803
      View Details
    • $219,963
      25.88 Acres

      Rolling Land Tract in Palestine

      25.88 acres with utilities, timber exemption, and owner financing.
      An County Road 443, Palestine, TX 75803
      View Details
    • $498,500
      2.80 Acres

      Prime Commercial Land in Palestine, TX

      2.795-acre commercial property with high visibility and development potential.
      1801 N Queen St, Palestine, TX 75803
      View Details
    View Listing
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    Palestine, TX 75803
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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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