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    Blue Ridge Unimproved Land Opportunity Title is generated by Realmo AI

    10420 County Road 470, Blue Ridge, TX 75424

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    Claim this Listing
    For Sale
    $3,100,000

    Unimproved Land - Blue Ridge, TX

    Type:Unimproved Land
    Lot size:
    52.78 Acres
    Added:
    Apr 4, 2026
    Days on Market:
    48
    Last Refresh:
    May 21 at 1:06 pm

    Property Features for 10420 County Road 470

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    R665800114401
    Lot size
    52.78 Acres

    Utilities

    Water front features
    Creek, Waterfront
    Water front
    1

    Building Details

    Year built
    2004
    Architectural style
    Other

    We can help!

    Listing Contact
    Stephen Eaton

    Listing agent Stephen Eaton License #0539000

    Listing office Eaton Real Estate Company 16708 San Luis Pass, Ste.C, League City, TX

    Listing date Apr 4, 2026

    MLS# 21226484 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

    • 52.779 Acres suitable for corporate campus, subdivision, or agricultural use.
    • Half a mile of road frontage and proximity (12 miles) to the new McKinney National Airport (commercial flights begin in 2026).
    • New 8‑inch water line with fire hydrants installed, supporting potential subdivision development.
    • Two ponds and a wet weather creek on the property, with minimal flood zone impact (creek bed only).
    • Existing utilities on site: electric, water, and septic tank.
    • Located in Collin County, one of the fastest‑growing counties in the US, presenting a strong investment opportunity.

    Overview

    This 52.779-acre property offers various development possibilities, including a corporate campus, a subdivision, or continued agricultural use. It features half a mile of road frontage and is located 12 miles from the new McKinney National Airport, which is scheduled to begin commercial flights in 2026. County Road 470, bordering two sides of the property, connects to 1827 in Altoga, leading to 380 in McKinney and the new airport. The land includes two ponds and a wet weather creek; the survey indicates that only the creek bed is within a flood zone. A new 8-inch water line with fire hydrants is installed around the property to support new subdivisions being developed nearby. Electric, water, and one septic tank are already on site. Collin County Planning Office records indicate a proposed 4-lane road on the east side of the property, connecting to 545 just outside of Blue Ridge. The property is currently leased for agricultural use. Given Collin County's growth, this property presents a significant investment opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Blue Ridge
    County
    Collin
    State
    Texas
    Longitude
    -96.4464401
    Latitude
    33.2465685

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - 52.779 acres suitable for corporate campus, subdivision, or agriculture.
    Where is this agricultural land / farmland located?
    The property is located at 10420 County Road 470 Blue Ridge, TX.
    What is the asking price?
    The asking price for this property is $3,100,000.
    What are key features of this property?
    This property features: 52.779 Acres suitable for corporate campus, subdivision, or agricultural use.; Half a mile of road frontage and proximity (12 miles) to the new McKinney National Airport (commercial flights begin in 2026).; New 8‑inch water line with fire hydrants installed, supporting potential subdivision development.
    (409) 766-1111
    We can help!
    Listing Contact
    Stephen Eaton
    Real Estate License ID: 0539000
    Learn More
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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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