Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1901 S Houston School Road Lancaster, TX 75146

    View on Map
    New
    For Sale
    $7,995,000

    Unimproved Land - Lancaster, TX

    Type:Unimproved Land
    Lot size:
    91.74 Acres
    Added:
    Mar 31, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 1 at 2:06 am

    Property Features for 1901 S Houston School Road

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    65012802010060100
    Lot size
    91.74 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Michael Hershenberg
    Michael Hershenberg

    Listing agent Michael Hershenberg License #0668097

    Listing office Real Broker, LLC 2626 Cole Avenue, Dallas, TX

    Listing date Mar 31, 2026

    MLS# 21222474 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.

    Overview

    91.74 Acres in Lancaster, TX

    This 91.74-acre property is located in Lancaster, Texas, just off Highway 35E. The parcel is currently ag-exempt and offers possibilities for residential development, a commercial project, ranch, or private estate. The property features utilities on-site and is bordered by trees. The location is across the street from large homes and estates. The property is positioned for near-term development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Gym & Fitness Center Kitchen & Bath Showroom HVAC Service Storage Facility Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Dallas
    State
    Texas
    Longitude
    -96.809791
    Latitude
    32.566184

    Nearby Similar for Sale

    • $675,000

      New Warehouse and Office Development

      New mixed-use warehouse and office space in Lancaster, Texas.
      3350 Balomede Street, Lancaster, TX 75134
      View Details
    • $427,777

      Lancaster Land on I-35 Frontage

      4.76 acres on I-35 in Lancaster, Texas.
      200 S Interstate 35 E, Lancaster, TX 75146
      View Details
    • $499,900

      Lancaster Land Near Loop 9

      Commercial land available near Loop 9, suitable for development.
      3100 S Dallas Avenue, Lancaster, TX 75146
      View Details
    • $499,900

      Lancaster Land Near Loop 9

      Unimproved land suitable for commercial development near upcoming Loop 9.
      3100 S Dallas Avenue, Lancaster, TX 75146
      View Details
    • $425,000

      Lancaster Retail Building with Suites

      Retail building in Lancaster, TX with income potential.
      1010 N Dallas Avenue N, Lancaster, TX 75146
      View Details
    • $139,900

      Lancaster Land Ready For Development

      Strategically located land in Lancaster, Texas, with development potential.
      4151 Interurban Road, Lancaster, TX 75134
      View Details
    • $55,000

      Vacant Commercial Lot Opportunity

      Vacant commercial lot in growing area with development potential.
      2736 Cedardale Road, Lancaster, TX 75134
      View Details
    • $2,900,000

      Lancaster Development Opportunity: 8.281 Acres

      8.281 acres of land suitable for residential or commercial development.
      2600 W Wintergreen Road, Lancaster, TX 75134
      View Details
    • $160,000

      Versatile Commercial Property Near Downtown

      Adaptable commercial space with potential for various business ventures.
      509 E 3rd Street, Lancaster, TX 75146
      View Details
    • $164,999

      Lancaster Land with Interstate Access

      Prime land in growing area with excellent visibility.
      1426 IDLEWILD Lane, Lancaster, TX 75134
      View Details
    • $385,000

      Lancaster Duplex: Investment Opportunity

      Full duplex near Dallas with easy highway access.
      907 Potomac Drive, Lancaster, TX 75134
      View Details
    • $769,500

      14.11 Acres Vacant Land

      Vacant land in growing Dallas County, ideal for residential development.
      710 E Reindeer Road, Lancaster, TX 75146
      View Details

    FAQs

    What type of property is this?
    Land - 91.74-acre property in Lancaster, TX, positioned for near-term development.
    Where is this land located?
    The property is located at 1901 S Houston School Road Lancaster, TX.
    What is the asking price?
    The asking price for this property is $7,995,000.
    What are key features of this property?
    This property features: Large 91.74‑acre property in Lancaster.; Prime location off Highway 35E.; Utilities are already on‑site.
    (855) 450-0442
    We can help!
    Listing Contact
    Michael Hershenberg
    Michael Hershenberg
    Real Estate License ID: 0668097
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!