Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1401 Mesa Dr Plainview, TX 79072

    Sponsored
    Picture of Land at Mesa Dr 1401, Plainview, TX
    For Sale
    $400,000

    Apartments - Plainview, TX

    Lot size:
    5.30 Acres
    Days on Market:
    56
    Last Refresh:
    Feb 16 at 11:06 am

    Property Features for 1401 Mesa Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    5.30 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    David Kopp
    David Kopp

    Roberts & Wilkins, Realtors (806) 293-4413

    Listing agent David Kopp (806) 292-0263

    Listing date Dec 23, 2025

    MLS# 23-99 Listing URL

    Copyright © 2026 Plainview Association Of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Vacant Land in Plainview, Texas

    This vacant land parcel, identified as Parcel #4, spans approximately 5.3 acres. It is currently zoned ''PD'' - Planned Development, which is the same zoning as the adjoining Prairie House Living Center. Subject to verification, the land is likely suitable for retirement housing and/or housing that complements Prairie House. Rezoning could potentially allow for the development of duplexes, townhouses, apartments, public assembly, or a hotel/motel. While currently zoned PD, the property is adjacent to Multi-Family & General Commercial zoning. Size and property taxes are based on HCAD records. The property is located in Plainview, Texas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Plainview
    County
    Hale
    State
    Texas
    Longitude
    -101.755134
    Latitude
    34.194557

    Nearby Similar for Sale

    • $379,000

      Plainview, Texas Triplex Opportunity

      Two triplexes in Plainview's Westridge addition, tenant occupied.
      4307-4311 W 2Nd St, Plainview, TX 79072
      View Details
    • New
      $229,900
      3,504 SF

      Plainview, Texas Quadplex For Sale

      Two-story quadplex with four units, ideal for cash flow.
      100 Pecos Pl, Plainview, TX 79072
      View Details
    • $152,500
      1,583 SF

      Plainview Commercial Building Near Hospital

      Commercial building suitable for medical or general office use.
      2620 Yonkers St, Plainview, TX 79072
      View Details
    • $89,500
      9,340 SF

      Plainview Commercial Building For Sale

      Versatile commercial building in Plainview, TX, suitable for various uses.
      2813 W 8Th St, Plainview, TX 79072
      View Details
    • $165,500
      17,100 SF

      Plainview Commercial Property with Barns

      Commercial property featuring two barns, efficiency, office, and game room.
      710 E 6Th St, Plainview, TX 79072
      View Details
    • $550,000
      12,000 SF

      Versatile Commercial Building in Plainview

      6,000 SF commercial building with open floor plan.
      509 Broadway St, Plainview, TX 79072
      View Details
    • $150,000
      13,500 SF

      Plainview Commercial Building For Sale

      Commercial building in downtown Plainview, ready for customization.
      505 Broadway St, Plainview, TX 79072
      View Details
    • $545,000
      6,565 SF

      Plainview Apartment Building: 10 Units

      Ten-unit apartment building with high occupancy in Plainview, Texas.
      1205-1207 Raleigh St, Plainview, TX 79072
      View Details
    • $295,000
      3,757 SF

      Plainview Commercial Property For Sale

      Radio station building and land with development potential in Plainview.
      3218 Quincy St, Plainview, TX 79072
      View Details
    • $109,995
      3,000 SF

      Plainview Theater For Sale

      Commercial property operating as a theater in Plainview, Texas.
      1403 W 5Th St, Plainview, TX 79072
      View Details
    • $280,000
      2,870 SF

      Plainview Office Building For Sale

      Corner lot office building with ample parking in Plainview.
      3810 W 24Th St, Plainview, TX 79072
      View Details
    • $379,000

      Plainview Multi-Family Investment Opportunity

      Six-door, tenant-occupied triplexes in Plainview, Texas.
      4401-4311 W 2Nd St, Plainview, TX 79072
      View Details

    FAQs

    What type of property is this?
    Land - Vacant land suitable for retirement housing or multi-family development.
    Where is this land located?
    The property is located at 1401 Mesa Dr Plainview, TX.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: - Large Vacant Land Parcel: +\/- 5.3 acres.; - Zoned ''PD'' - Planned Development, same as adjoining Prairie House Living Center.; - Suitable for retirement housing and/or housing that complements Prairie House (subject to verification).
    (806) 729-4878
    Request Owner's contact information
    1401 Mesa Dr Plainview, TX 79072
    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.
    1401 Mesa Dr
    Plainview, TX 79072
    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
    1401 Mesa Dr Plainview, TX 79072
    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

    We can help!
    Listing Contact
    David Kopp
    David Kopp
    Real Estate License ID: 574262
    (806) 729-4878 (806) 292-0263 (806) 293-4413
    Learn more
    Google sign-in failed. Please try again or use another login method.