Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land For Sale in Lorena Title is generated by Realmo AI

    113 Iris Street, Lorena, TX 76655

    View on Map
    Claim this Listing
    For Sale
    $111,000

    LAND - Lorena, TX

    Lot size:
    0.80 Acres
    Added:
    Apr 23, 2026
    Days on Market:
    44
    Last Refresh:
    Jun 5 at 10:06 pm

    Property Features for 113 Iris Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    307001000003060
    Lot size
    0.80 Acres

    Taxes and HOA fees

    Tax Description
    THE ARCHES PH 1 LOT 6 BLOCK 3 ACRES .801
    Tax Annual Amount
    2651

    We can help!

    Listing Contact
    Diane Ard

    Listing agent Diane Ard License #0638732

    Listing office Coldwell Banker Apex, REALTORS Waco, TX

    Listing date Apr 23, 2026

    MLS# 21135405 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

    • Prime Location: Exact coordinates pinpoint this property's location.
    • Property Details Available: Inquire for access to comprehensive property information.
    • Information Source: Derived from a real estate listing.
    • Factual Aspects: Focused on delivering verifiable property details.
    • Key Amenities: Discover the key amenities this property offers.
    • Unique Features: Highlights the property's unique and distinguishing features.

    Overview

    This is an 0.801-acre land located in Lorena, McLennan County, Texas. The property is located in the city of Lorena, Texas.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lorena
    County
    McLennan
    State
    Texas
    Longitude
    -97.193802
    Latitude
    31.382655

    Nearby Similar for Sale

    • $599,000

      New Flex Warehouse with Roll-Up Doors

      New flex warehouse setup with roll-up doors, plus a dedicated office and bathroom for day-to-day operations.
      6854 Old Lorena Road, Lorena, TX 76655
      View Details
    • $265,000

      Shovel-Ready Convenience Store Development Site

      Approved plans and utilities at the line for a convenience store and retail buildout with dual frontage.
      N Houston Street, Lorena, TX 76655
      View Details
    • $265,000

      Shovel-Ready Commercial Land Pad

      Approved plans, dual-road frontage, and utilities stubbed at the line support a quick start for a convenience retail and fuel site.
      N Houston Street, Lorena, TX 76655
      View Details
    • $495,000
      4,494 SF

      Mixed-Use Retail and Owner's Quarters

      Historic downtown storefront plus flexible retail, restaurant, or office space with an additional 2-bedroom owner’s quarters option.
      103-105 E Center Street, Lorena, TX 76655
      View Details
    • $4,878,000

      160 Acres in Lorena, Texas

      Prime investment opportunity in rapidly growing Lorena, Texas market.
      993 Rosenthal Parkway, Lorena, TX 76655
      View Details
    • $850,000

      Ranch Land with Stock Ponds

      Rural acreage with a large equipment shed, multiple stock ponds, and existing livestock ag exemption in Lorena.
      S Robinson Drive, Lorena, TX 76655
      View Details
    • $185,000

      5-Acre Land in Lorena, TX

      Cleared 5-acre tract in Lorena ISD with water meter.
      3719 Birdie Lane, Lorena, TX 76655
      View Details
    • $115,000

      Land in Exclusive Lorena Enclave

      An opportunity to build a custom luxury residence in Lorena.
      120 Yellow Rose Street, Lorena, TX 76655
      View Details
    • $111,000

      Land For Sale in Lorena

      Unimproved land available in Lorena, Texas.
      130 Iris Street, Lorena, TX 76655
      View Details
    • $115,000

      Residential Development Lots Package

      Package of nine residential lots in The Arches enclave, with community garden, natural pond, and park amenities.
      136 Yellow Rose Street, Lorena, TX 76655
      View Details
    • $119,000

      Residential Development Lot Package

      Nine prime lots in Lorena ISD with access to planned community garden, pond, and neighborhood park near I-35.
      129 Sunflower Street, Lorena, TX 76655
      View Details
    • $119,000

      Nine-Lot Residential Land Package

      Acquire nine prime residential lots with planned community amenities and convenient access to major employment centers.
      105 IRIS Street, Lorena, TX 76655
      View Details

    FAQs

    What type of property is this?
    Land - Unimproved land available in Lorena, Texas.
    Where is this land located?
    The property is located at 113 Iris Street Lorena, TX.
    What is the asking price?
    The asking price for this property is $111,000.
    What are key features of this property?
    This property features: Prime Location: Exact coordinates pinpoint this property's location.; Property Details Available: Inquire for access to comprehensive property information.; Information Source: Derived from a real estate listing.
    (254) 776-0000
    We can help!
    Listing Contact
    Diane Ard
    Real Estate License ID: 0638732
    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
    113 Iris Street, Lorena, TX 76655
    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!