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

    1205 N Mill Street, Lewisville, TX 75057

    View on Map
    Claim this Listing
    For Sale
    $2,100,000

    LAND - Lewisville, TX

    Lot size:
    9.78 Acres
    Added:
    May 27, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 11:06 am

    Property Features for 1205 N Mill Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Brush
    Standard status
    Active
    APN
    R18130
    Lot size
    9.78 Acres

    Taxes and HOA fees

    Tax Description
    A1399A WAGGONER, TR 17, 6.49 ACRES, OLD DCAD
    Tax Annual Amount
    4907

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1975

    We can help!

    Listing Contact
    Heath Wells

    Listing agent Heath Wells License #0669151

    Listing office Repeat Realty, LLC Lewisville, TX

    Listing date May 27, 2026

    MLS# 21281624 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 9‑acre land in Lewisville, TX
    • Convenient location: just 1 mile from I‑35 and Old Town Lewisville
    • Zoned for both General Business and Residential use, offering flexibility
    • Investment potential for development
    • Multiple parcel IDs for the property
    • Includes fencing

    Overview

    This property features approximately 9 acres of land situated in Lewisville, Texas. Historically utilized as a residential retreat with pastures and greenhouses, the site has accommodated various uses over time. Its location on Mill Street provides convenient access, being just 1 mile from I-35 and 1 mile from Old Town Lewisville. The property is zoned for both General Business and Residential use, offering potential for diverse development concepts. The total property consists of multiple parcel IDs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewisville
    County
    Denton
    State
    Texas
    Longitude
    -97.005027
    Latitude
    33.060256

    Nearby Similar for Sale

    • $575,000
      1,560 SF

      Turn-Key Office Suite

      Leased through September 2026, this office suite offers a professional layout with private offices, conference space, and modern finishes.
      2681 Macarthur Boulevard, Lewisville, TX 75067
      View Details
    • $1,980,000

      Fully Leased Industrial Flex Investment

      Two well-maintained brick flex buildings with professional tenant buildouts, roll-up access, and 100% air conditioning for stable income.
      519 Bennett Lane, Lewisville, TX 75057
      View Details
    • $1,100,000

      Turnkey Childcare Retail Building

      Turnkey childcare facility with multiple classrooms and flexible zoning for retail and special-purpose uses.
      662 S Edmonds Lane, Lewisville, TX 75067
      View Details
    • $1,990,000

      Bank-Converted Office and Showroom

      General Business property with bank-era vault, 9+ offices, and 100% air—suited for showroom or service uses.
      2345 State Highway 121, Lewisville, TX 75056
      View Details
    • $1,295,000

      Multi-Tenant Office Building

      Four-unit office configuration offers investors potential for steadier rental income near Old Town Lewisville.
      915-921 N Mill Street, Lewisville, TX 75057
      View Details
    • $1,199,995

      Automotive Dealership Site

      High-visibility site with highway frontage and approvals for automotive dealership use, designed to support on-site vehicle display.
      1506 S State Highway 121, Lewisville, TX 75067
      View Details
    • $450,000

      Office Condo with Reception Area

      Well-maintained office condo featuring five private offices, a large reception or work area, and two restrooms.
      376 W Main Street, Lewisville, TX 75057
      View Details
    • $995,000

      Three-Building Mixed-Use Compound

      Two primary structures plus a metal HVAC-equipped shop offer flexible mixed-use space with prominent Main Street visibility.
      331 E Main Street, Lewisville, TX 75057
      View Details
    • $2,900,000

      Specialty Commercial Property

      Specialty commercial real estate offered with a business component at a Denton County address in Lewisville.
      2561 Macarthur Boulevard, Lewisville, TX 75067
      View Details
    • $417,900

      Luxury Office Building in Office Park

      Move-in ready suite with designer finishes, ample parking, and flexibility for sale or leasing.
      870 HEBRON Parkway, Lewisville, TX 75057
      View Details
    • $419,000

      Luxury Medical Office Suite

      Leased luxury office suite with multiple private offices, conference room, reception area, and kitchen in a prestigious office park.
      870 Hebron Parkway, Lewisville, TX 75057
      View Details
    • $125,000
      3,500 SF

      Family Restaurant Business Opportunity

      Well-equipped restaurant inside a high-visibility shopping center, offering immediate food-service income with kitchen equipment and inventory included.
      500 E Round Road, Lewisville, TX 75067
      View Details

    FAQs

    What type of property is this?
    Land - 9.78 acres of land in the heart of Lewisville, TX.
    Where is this land located?
    The property is located at 1205 N Mill Street Lewisville, TX.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: Prime 9‑acre land in Lewisville, TX; Convenient location: just 1 mile from I‑35 and Old Town Lewisville; Zoned for both General Business and Residential use, offering flexibility
    (972) 966-6683
    We can help!
    Listing Contact
    Heath Wells
    Real Estate License ID: 0669151
    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
    1205 N Mill Street, Lewisville, TX 75057
    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!