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    Residential Lot in Greenway Park Title is generated by Realmo AI

    124 Park Avenue, Keller, TX 76262

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    Claim this Listing
    For Sale
    $395,000

    Unimproved Land - Keller, TX

    Type:Unimproved Land
    Lot size:
    0.51 Acres
    Added:
    Aug 18, 2025
    Days on Market:
    265
    Last Refresh:
    May 9 at 8:06 am

    Property Features for 124 Park Avenue

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    43097416
    Lot size
    0.51 Acres

    Taxes and HOA fees

    Expense value
    2000
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Libby Severance

    Listing agent Libby Severance License #0771531

    Listing office HomeSmart 1200 Florida Drive, Suite 100, Dallas, TX

    Listing date Aug 18, 2025

    MLS# 20831813 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

    • Exclusive Build‑to‑Suit opportunity with Providential Custom Homes in Keller's newest custom home subdivision.
    • Prime, north‑facing lot in Greenway Park, offering design flexibility and landscaping potential.
    • Access to Greenway Park's exclusive amenities: over 4 acres of open spaces, trails, and a pond with a fishing pier.
    • Convenient location balancing peaceful residential living with proximity to retail, dining, and essential services.
    • Family‑friendly neighborhood with access to quality schools.
    • Easy access to major highways for convenient commuting to Denton and Fort Worth.

    Overview

    Located at 124 Park Avenue, Keller, TX 76262, this residential lot is available for sale with an exclusive Build to Suit arrangement with Providential Custom Homes. Situated within Greenway Park, Keller’s newest custom home subdivision, the property is one of 38 residential lots. Greenway Park includes over 4 acres of open spaces, trails, and a pond with a fishing pier for the exclusive use of its homeowners. The lot offers an opportunity to design and build a custom home with Providential Custom Homes. The north-facing lot is located in a peaceful, suburban setting, balancing residential comfort with nearby commercial amenities. The surrounding neighborhood is predominantly residential, offering a tranquil environment. The location is within reach of quality schools. A variety of commercial services are within a short drive, including shopping centers, restaurants, and convenience stores. Essential services like grocery stores, banks, and medical facilities are also nearby. With access to major roads and highways, the lot is positioned for commuting to nearby cities like Denton and Fort Worth. The lot size is approximately 0.508 acres.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Keller
    County
    Denton
    State
    Texas
    Longitude
    -97.2511808
    Latitude
    32.9516105

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    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot for custom home in Keller's Greenway Park.
    Where is this residential land & home lot located?
    The property is located at 124 Park Avenue Keller, TX.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: Exclusive Build‑to‑Suit opportunity with Providential Custom Homes in Keller's newest custom home subdivision.; Prime, north‑facing lot in Greenway Park, offering design flexibility and landscaping potential.; Access to Greenway Park's exclusive amenities: over 4 acres of open spaces, trails, and a pond with a fishing pier.
    (972) 401-1400
    We can help!
    Listing Contact
    Libby Severance
    Real Estate License ID: 0771531
    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.

    More about this property
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