Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Waterfront Channel Lot Ready Title is generated by Realmo AI

    103 Cree Street, Mabank, TX 75156

    View on Map
    Claim this Listing
    For Sale
    $39,000

    LAND - Mabank, TX

    Lot size:
    0.14 Acres
    Added:
    Jan 14, 2026
    Days on Market:
    144
    Last Refresh:
    Jun 6 at 11:06 pm

    Property Features for 103 Cree Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    23900005A57030
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Description
    LT 1057 AB 132 G CHOVANNO SUR, CHEROKEE SHORE
    Tax Annual Amount
    489

    Utilities

    Water front features
    Canal Access, Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Oscar Verdin
    Oscar Verdin

    Listing agent Oscar Verdin License #0605862

    Listing office Oscar Verdin & Associates Real Lewisville, TX

    Listing date Jan 14, 2026

    MLS# 21151989 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Waterfront channel lot with canal access and waterfront features
    • Lot is cleared and ready for use
    • Eustace ISD
    • HOA amenities include a boat ramp and swimming pool

    Overview

    This cleared waterfront channel lot is ready for immediate use and offers a straightforward path for buyers looking to build or place a new use on the property. The site is described as cleared and prepared, with the waterfront channel positioning intended to support a lakeside setting.

    The property is located in Eustace ISD near the lake area. An HOA is in place, and the remarks indicate HOA amenities include a boat ramp and swimming pool. Buyer due diligence is specifically directed to verify all information.

    Given the lot’s cleared condition and waterfront channel frontage, this land parcel is best suited for buyers who want a manageable site for their plans in a community with shared recreational amenities. It may also appeal to investors or developers looking for a ready-to-use location where HOA access to water-related facilities is an important part of the overall value proposition.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Building Supply Accounting Firm HVAC Service Electronics & Wireless Store Arcade & Gaming Center Carpet & Flooring Store Pet Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mabank
    County
    Henderson
    State
    Texas
    Longitude
    -96.077537
    Latitude
    32.258385

    Nearby Similar for Sale

    • $999,000

      Flex Warehouse with Office & Kitchen

      Foam-insulated flex warehouse with multiple roll-up doors and offices, including full kitchen and dining space.
      15821 E Highway 175, Mabank, TX 75143
      View Details
    • $1,100,000

      Modern Professional Office Building

      Quality-built office space with ample parking and multiple suites along a heavily traveled highway corridor.
      15821 Highway 175, Mabank, TX 75143
      View Details
    • $385,000
      600 SF

      Mabank Commercial Garage Unit

      600 SF metal garage unit in high-visibility location.
      608 W Mason St, Mabank, TX 75147
      View Details
    • $449,000

      Move-In-Ready Office Suite

      Move-in-ready office space with covered patio, secure setup, and parking options on a busy road for strong visibility.
      1424 S 3rd Street, Mabank, TX 75147
      View Details
    • $580,000

      Commercial Land with Dual Frontage

      Build-ready commercial parcel with dual road frontage and convenient access for retail, office, or service development.
      W Hwy 175, Mabank, TX 75147
      View Details
    • $449,000
      2,520 SF

      Move-in-ready Office Space in Mabank

      2520 SF office space with excellent visibility in Mabank, TX.
      1424 S 3rd St, Mabank, TX 75147
      View Details
    • $150,000

      High-Visibility Corner Commercial Lot

      Corner lot with major highway frontage and utility access at the road, offering strong exposure for commercial development.
      602 S 3rd Street, Mabank, TX 75147
      View Details
    • $999,000

      Warehouse Portfolio with Roll-Up Doors

      Five warehouse buildings with roll-up doors give flexible layouts for multiple tenants or uses near Hwy 175.
      920 W Mason Street, Mabank, TX 75147
      View Details
    • $775,000

      Waterfront Land with Fishing Pier

      Build-ready waterfront land on Cedar Creek Lake with 234 feet of water frontage, power and water on site.
      229 Esquire Estates Road, Mabank, TX 75156
      View Details
    • $150,000

      Commercial Lot in Mabank, Texas

      Prime commercial lot with high visibility and heavy traffic.
      602 3rd St, Mabank, TX 75147
      View Details
    • $385,000

      Metal Garage Flex Unit

      Metal garage flex unit with utilities and a half bath, positioned for visibility along a major thoroughfare.
      608 W Mason Street, Mabank, TX 75147
      View Details
    • $975,000

      Contiguous Waterfront Development Lots

      Three improved, contiguous lakefront lots with open-water frontage and an existing boathouse offer a strong base for a custom retreat.
      161 Palisade Drive, Mabank, TX 75156
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Cleared waterfront channel lot with HOA amenities, ideal for buyers seeking a ready-to-use lakeside home site.
    Where is this waterfront land located?
    The property is located at 103 Cree Street Mabank, TX.
    What is the asking price?
    The asking price for this property is $39,000.
    What are key features of this property?
    This property features: Waterfront channel lot with canal access and waterfront features; Lot is cleared and ready for use; Eustace ISD
    (214) 662-3779
    We can help!
    Listing Contact
    Oscar Verdin
    Oscar Verdin
    Real Estate License ID: 0605862
    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.
    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

    Thank You for Inquiry
    103 Cree Street, Mabank, TX 75156
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!