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    Bank-Converted Office and Showroom Title is generated by Realmo AI

    2345 State Highway 121, Lewisville, TX 75056

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    For Sale
    Under Contract
    $1,990,000

    SINGLE_FAMILY - Lewisville, TX

    Type:Office
    Lot size:
    1.74 Acres
    Added:
    May 29, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 4 at 9:06 am

    Property Features for 2345 State Highway 121

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active Under Contract
    APN
    R146324
    Lot size
    1.74 Acres

    Taxes and HOA fees

    Tax Description
    ROUND GROVE VILLAGE BLK A LOT 3
    Tax Annual Amount
    17457

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Zoned, Electric (Heating)
    Cooling system
    Zoned, Electric, Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1987
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Carpet
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Debbie Keach

    Listing agent Debbie Keach License #0297248

    Listing office RE/MAX DFW Associates Coppell, TX

    Listing date May 29, 2026

    MLS# 20972252

    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

    • General Business zoning; currently used as a church but originally built for a bank
    • Vault remains in place from original bank build
    • Single‑story building with 9+ private offices, conference room, kitchen, and mechanical room
    • Metal roof; 1.79‑acre level rectangular lot with 100+ parking spaces
    • Drive‑through canopy provides covered parking and covered access
    • Utilities: public water and public sewer; HVAC includes zoned electric heating and central air

    Overview

    This single-story commercial property offers a bank-inspired interior layout with a vault still in place. While it is currently used as a church, the building’s configuration includes 9+ private offices plus a conference room, kitchen, and mechanical room. With 100% air, the space is well suited for showroom-style retail or professional office use, supported by a practical floorplan for multiple occupants or departments.

    Zoned for General Business, the property provides flexibility for a wide array of retail, office, and service uses, including some automobile-related services. Set on a level, rectangular 1.79-acre site, it offers excess parking for 100+ vehicles and additional yard space for company vehicles or storage. A drive-through canopy remains in place, providing covered parking convenience.

    For buyers and operators, the combination of office density, showroom-ready environment, and on-site yard/paking makes this a strong candidate for established businesses needing both interior buildout and exterior utility. The existing vault and office layout can support organizations looking for character features alongside functional private workspace, while the General Business zoning supports a range of tenant types within retail, office, and service categories.
    Property Profile Location Intelligence

    Current Use by Public Records

    Vista Ridge Bible ... Church Comunidade Brasileira de ... Church

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewisville
    County
    Denton
    State
    Texas
    Longitude
    -96.9931
    Latitude
    33.00647

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    FAQs

    What type of property is this?
    Church & religious facility - General Business property with bank-era vault, 9+ offices, and 100% air—suited for showroom or service uses.
    Where is this church & religious facility located?
    The property is located at 2345 State Highway 121 Lewisville, TX.
    What is the asking price?
    The asking price for this property is $1,990,000.
    What are key features of this property?
    This property features: General Business zoning; currently used as a church but originally built for a bank; Vault remains in place from original bank build; Single‑story building with 9+ private offices, conference room, kitchen, and mechanical room
    (972) 462-8181
    We can help!
    Listing Contact
    Debbie Keach
    Real Estate License ID: 0297248
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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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