<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0002065859</cik>
        <entityName>GMI-Granbury 106, LP</entityName>
        <issuerAddress>
            <street1>1301 SOLANA BLVD., BUILDING 2</street1>
            <street2>SUITE 2450</street2>
            <city>WESTLAKE</city>
            <stateOrCountry>TX</stateOrCountry>
            <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
            <zipCode>76262</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>2147632490</issuerPhoneNumber>
        <jurisdictionOfInc>TEXAS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2025</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>P.</middleName>
                <lastName>Glass</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1301 SOLANA BLVD., BUILDING 2</street1>
                <street2>Suite 2450</street2>
                <city>Westlake</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>76262</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Scott</firstName>
                <lastName>Palmer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1301 SOLANA BLVD., BUILDING 2</street1>
                <street2>Suite 2450</street2>
                <city>Westlake</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>76262</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Other Real Estate</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06c</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0002065859-25-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <yetToOccur>true</yetToOccur>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Michael Ihrie</recipientName>
                <recipientCRDNumber>1394615</recipientCRDNumber>
                <associatedBDName>Boustead Securities</associatedBDName>
                <associatedBDCRDNumber>30770</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>6 Venture Suite 395</street1>
                    <city>Irvine</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>92618</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AR</state>
                    <description>ARKANSAS</description>
                    <state>OK</state>
                    <description>OKLAHOMA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>8755622</totalOfferingAmount>
            <totalAmountSold>1650000</totalAmountSold>
            <totalRemaining>7105622</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>8</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>700450</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>800000</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>Amount shown is payable to an affiliate, to be shared equally by such persons. In addition, the issuer will pay offering and other cost reimbursements and bridge loan repayments to or for such persons or an affiliate.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>GMI-Granbury 106, LP</issuerName>
                <signatureName>William P. Glass</signatureName>
                <nameOfSigner>William P. Glass</nameOfSigner>
                <signatureTitle>manager of general partner of filer</signatureTitle>
                <signatureDate>2025-06-13</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
