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    Commercial Waterfront-Adjacent Lot Title is generated by Realmo AI

    1350 Sandy Beach Road, Pelican Bay, TX 76020

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    Claim this Listing
    For Sale
    Under Contract
    $300,000

    LAND - Pelican Bay, TX

    Lot size:
    1.28 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    80
    Last Refresh:
    Jun 3 at 3:06 am

    Property Features for 1350 Sandy Beach Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active Under Contract
    APN
    04523482
    Lot size
    1.28 Acres

    Taxes and HOA fees

    Tax Description
    WILCOX, JACOB SURVEY #54 ABSTRACT 1713 TRACT
    Tax Annual Amount
    434

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Floors in Building
    1

    We can help!

    Listing Contact
    Mark Costello
    Mark Costello

    Listing agent Mark Costello License #0666230

    Listing office The Costello Group, LLC Weatherford, TX

    Listing date Mar 16, 2026

    MLS# 21126414

    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

    • 1.28‑acre commercial lot inside the Pelican Bay city limits
    • Public water and public sewer available
    • Sandy Beach Rd carries +/-2,100 vehicles per day (TxDOT 2024)
    • FM 730 supports +/-16,796 vehicles per day (TxDOT 2024) and provides direct access to Weatherford, Azle, Hwy 199, and Fort Worth
    • Mostly level, usable lot with city‑provided utilities and easy access
    • Under construction; includes location appeal to Eagle Mountain Lake with consistent seasonal and weekend traffic

    Overview

    Located within Pelican Bay city limits, this approximately 1.28-acre commercial lot is mostly level, usable, and designed for straightforward development. Utilities are available through the city, which can streamline the path to building compared to nearby county land. The property’s location also supports development strategies that align with lake-serving operations.

    Sandy Beach Rd carries approximately 2,100 vehicles per day (TxDOT 2024), and nearby FM 730 supports approximately 16,796 vehicles per day (TxDOT 2024). The lot is described as being less than a few minutes from Eagle Mountain Lake, with consistent seasonal and weekend traffic tied to boating, fishing, swimming beaches, parks, and multiple marina access points. For regional connectivity, FM 730 provides direct access to Weatherford, Azle, Hwy 199, and Fort Worth.

    Given the mix of recreational visitation and expanding residential development approved nearby, the site is well suited to lake-serving concepts such as convenience retail, food service, storage, marine-related services, or short-term rental support uses. It may also be considered for rezoning or a specific-use permit for alternative development paths, including higher-density residential or mixed-use, depending on buyer goals and the development approval process.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Pelican Bay
    County
    Tarrant
    State
    Texas
    Longitude
    -97.521784
    Latitude
    32.927614

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    FAQs

    What type of property is this?
    Commercial land - Mostly level, city-served commercial land positioned to capture steady lake-driven and neighborhood growth demand.
    Where is this commercial land located?
    The property is located at 1350 Sandy Beach Road Pelican Bay, TX.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: 1.28‑acre commercial lot inside the Pelican Bay city limits; Public water and public sewer available; Sandy Beach Rd carries +/-2,100 vehicles per day (TxDOT 2024)
    (225) 287-0883
    We can help!
    Listing Contact
    Mark Costello
    Mark Costello
    Real Estate License ID: 0666230
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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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