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

    249 The Shores Dr Corsicana, TX 75109

    View on Map
    Sponsored
    For Sale
    $345,000

    Improved Land - Corsicana, TX

    Lot size:
    1.08 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 28 at 1:06 am

    Property Features for 249 The Shores Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    63537
    Exterior features
    Private Entrance
    Lot size
    1.08 Acres

    Taxes and HOA fees

    Expense value
    1255
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Utilities

    Water front features
    Lake Front, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Laura Smith

    Keller Williams Realty

    Listing agent Laura Smith License #0645005

    Listing date Mar 27, 2026

    MLS# 21129188 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.

    Learn more

    Property Insight Report

    Overview

    Waterfront Land in Gated Community

    This 1.084-acre property is located in The Shores, a gated community on Richland Chambers Lake, within the Mildred Independent School District. Lot 249 offers 147 feet of platted water frontage on a peninsula, providing an ideal setting to build a custom home. The lot features cleared space near the road for convenient building access and wooded areas closer to the water, enhancing privacy and natural appeal. Residents can enjoy views of the cove. The property allows for the construction of a private dock for boating. Community amenities include a private boat ramp, a stocked pond with a fishing pier, a clubhouse, a fitness center, and a resort-style pool.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Restaurant Hotel & Motel Storage Facility Travel Agency Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Corsicana
    County
    Navarro
    State
    Texas
    Longitude
    -96.23110283
    Latitude
    31.98735298

    Nearby Similar for Sale

    • $599,000
      6,872 SF

      Versatile Commercial Building in Corsicana

      6,872 SF commercial building with office and shop space.
      308 S Beaton St, Corsicana, TX 75110
      View Details
    • $450,000
      3,300 SF

      Iconic Silo Conversion Opportunity

      Unique, renovated silo near downtown Corsicana with versatile space.
      513 Martin Luther King Jr Blvd, Corsicana, TX 75110
      View Details
    • $850,000
      8,500 SF

      Versatile Commercial Property in Corsicana

      8,500 sq ft metal building with office and shop space.
      1742 S Us Highway 287, Corsicana, TX 75110
      View Details
    • New
      $450,000
      6,000 SF

      Versatile Warehouse Near Interstate 45

      Commercial property with excellent accessibility and visibility for various business uses.
      731 Ferguson Dr, Corsicana, TX 75110
      View Details
    • $730,000
      0.06 Acres

      Historic Corsicana Building on Beaton

      Two-story brick building with bar, kitchen, and event space.
      107 S Beaton St, Corsicana, TX 75110
      View Details
    • New
      $589,900
      5,000 SF

      Corsicana Land with Lake Views

      22.5 acres with barns, pastures, ponds, and lake access.
      1209 County Road 3160, Corsicana, TX 75109
      View Details
    • $375,000
      0.13 Acres

      Historic Corsicana Landmark For Sale

      Downtown Corsicana landmark suitable for retail, office, or mixed-use.
      222 N Commerce St, Corsicana, TX 75110
      View Details
    • $399,000
      5,200 SF

      Versatile Mixed-Use Property on Highway

      Commercial property with warehouse, retail, and residential units.
      5821 S Us Highway 287, Corsicana, TX 75109
      View Details
    • $199,000
      0.16 Acres

      Commercial Property Near Downtown Corsicana

      Commercial property near downtown, ready for customization and various business uses.
      208 W 1St Ave, Corsicana, TX 75110
      View Details
    • $799,999
      2.00 Acres

      Highway Frontage Industrial Investment Property

      1.975-acre property with 5,500 sq ft building and long-term tenant.
      4429 W State Highway 31, Corsicana, TX 75110
      View Details
    • $675,000
      3.20 Acres

      Versatile Buildings on 3.2 Acres

      Adaptable campus suitable for church, school, or commercial ventures.
      3640 N Business 45, Corsicana, TX 75110
      View Details
    • $1,000,000
      13,500 SF

      Downtown Corsicana Commercial Opportunity

      Substantial commercial property in historic downtown Corsicana, ideal for diverse ventures.
      216 N Commerce St, Corsicana, TX 75110
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 1.084-acre lot with water frontage in The Shores.
    Where is this waterfront land located?
    The property is located at 249 The Shores Dr Corsicana, TX.
    What is the asking price?
    The asking price for this property is $345,000.
    What are key features of this property?
    This property features: - 1.084 acre lot with **147 feet of platted water frontage on Richland Chambers Lake.**; - Located in The Shores, a **premier gated community.**; - Cleared building area at the road and wooded area near the water.
    (817) 795-2500
    Request Owner's contact information
    249 The Shores Dr Corsicana, TX 75109
    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.
    249 The Shores Dr
    Corsicana, TX 75109
    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
    249 The Shores Dr Corsicana, TX 75109
    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
    Laura Smith
    Real Estate License ID: 0645005
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!