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    25 Acre Land Package, Melissa Title is generated by Realmo AI

    1630 Milrany Lane, Melissa, TX 75454

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    Claim this Listing
    For Sale
    $8,500,000

    Improved Land - Melissa, TX

    Lot size:
    24.70 Acres
    Added:
    Feb 13, 2026
    Days on Market:
    92
    Last Refresh:
    May 16 at 9:06 pm

    Property Features for 1630 Milrany Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Covered Courtyard, Rain Gutters, Private Entrance, Private Yard, Rv/Boat Parking, Stable/Barn, Storage
    Standard status
    Active
    APN
    R686700202301
    Lot size
    24.70 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Multi Units, Window Unit(s)

    Building Details

    Year built
    1961
    Architectural style
    Other
    Additional Structures
    Barn(s), RV/Boat Storage, Stable(s), Storage

    We can help!

    Listing Contact
    Matt Solis

    Listing agent Matt Solis License #0790902

    Listing office Matt Solis Real Estate 539 W Commerce St #112, El Paso, TX

    Listing date Feb 13, 2026

    MLS# 21149244 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

    • Rare 25‑acre three‑parcel assembly in Melissa ETJ with no city zoning.
    • Strong long‑term potential for developers seeking a luxury subdivision or custom estate homes.
    • Multiple access points and extensive road frontage on Milrany Ln & Laguna Dr.
    • Located in Melissa ISD and minutes from Hwy 121.
    • Land is primarily level and cleared, ideal for future lot configurations.
    • Existing structures provide potential interim use or rental income.

    Overview

    This offering consists of a rare 25-acre, three-parcel assembly located in Melissa ETJ. The property, comprised of three contiguous parcels, benefits from no city zoning and frontage on both Milrany Lane and Laguna Drive. Served by Melissa ISD, the site is conveniently located minutes from Highway 121. The land is offered as one investment package, including addresses 1630 Milrany Lane, 1616 Milrany Lane, and 3434 Laguna Drive. This strategically located assemblage within the Melissa ETJ presents long-term potential for developers interested in a luxury subdivision, custom estate homes, or a strategic land hold in a rapidly growing area. The land is primarily level and cleared, featuring multiple access points and extensive road frontage along Milrany Lane and Laguna Drive, making it suitable for various lot configurations. Existing structures, including a farmhouse and a manufactured home, offer potential for interim use or rental income while development plans are being developed. The property's proximity to Melissa High School, Highway 121, and expanding infrastructure enhances its appeal for residential development. The property is sold as one package only.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Auto Repair Shop Hair Salon Accounting Firm Electrical Service Cafe & Coffee Shop Clothing & Fashion Store Computer & Electronic Repair Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Melissa
    County
    Collin
    State
    Texas
    Longitude
    -96.5448122
    Latitude
    33.2705732

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    FAQs

    What type of property is this?
    Residential land & home lot - 25 acres in Melissa ETJ, ideal for development.
    Where is this residential land & home lot located?
    The property is located at 1630 Milrany Lane Melissa, TX.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: Rare 25‑acre three‑parcel assembly in Melissa ETJ with no city zoning.; Strong long‑term potential for developers seeking a luxury subdivision or custom estate homes.; Multiple access points and extensive road frontage on Milrany Ln & Laguna Dr.
    (214) 247-1788
    We can help!
    Listing Contact
    Matt Solis
    Real Estate License ID: 0790902
    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.

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