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    304 Canales Rd Nevada, TX 75173

    Sponsored
    For Lease
    $5,500 /Mo ($30 SF/Yr)

    Traditional, Farm/Ranch - Nevada, TX

    Type:Farm
    Property size:
    2,142 SF
    Lot size:
    36.80 Acres
    Days on Market:
    129
    Last Refresh:
    Jan 23 at 3:06 pm

    Property Features for 304 Canales Rd

    General Information

    Property type
    Residential Lease
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    2
    APN
    R-6084-000-0230-1
    Parking features
    Garage, Oversized, RV
    Patio and Porch features
    Patio, Porch
    Interior features
    Decorative Lighting, Vaulted Ceiling(s)
    Exterior features
    Covered Patio/Porch, Rain Gutters, Rv/Boat Parking, Storage, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Cooktop, Cooktop - Gas, Dishwasher, Garbage Disposer, Washer
    Size
    2,142 SF
    Lot size
    36.80 Acres

    Taxes and HOA fees

    Expense value
    5000
    Expense
    Security Deposit
    Expense freq.
    Once

    Utilities

    Heating system
    Central, Electric (Heating), Fireplace(s)
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    2015
    Floors in Building
    1
    Flooring type
    Concrete, Tile, Tile - Ceramic
    Building materials
    Brick, Stone
    Roof type
    Composition
    Architectural style
    New Traditional
    Additional Structures
    RV/Boat Storage, Storage

    We can help!

    Listing Contact
    Cindy Coats

    WILLIAM DAVIS REALTY (972) 732-6002

    Listing agent Cindy Coats (972) 732-6002 License #0458555

    Listing date Sep 17, 2025

    MLS# 21059490 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

    Texas Countryside Ranch Retreat

    This property features a custom-built home situated on over 36 acres of Texas countryside. The land has an agricultural exemption. The home features quality finishes and a thoughtful design, with recent updates including fresh interior and exterior paint and luxury vinyl flooring. The spacious floor plan is filled with natural light, and the modern kitchen complements generous living areas. The property includes a 30 x 50 shop with electricity and a 20x30 overhang. A pond is present on the land. The property offers possibilities for recreation and ranching. The land is suited for cattle, horses, or outdoor hobbies. The property contains 2,142 square feet of living space. The property is located in Nevada, Texas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Restaurant Spa & Massage Wholesale Shop Auto Repair Shop Gym & Fitness Pharmacy Kitchen & Bath Storage Facility Garden Center Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Nevada
    County
    Collin
    State
    Texas
    Longitude
    -96.306519
    Latitude
    33.074765

    FAQs

    What type of property is this?
    Ranch - 36+ acre ranch with custom home in Nevada, Texas.
    Where is this ranch located?
    The property is located at 304 Canales Rd Nevada, TX.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: - Over 36 acres of land with agricultural exemption for lower taxes.; - 30x50 shop with electricity and 20x30 overhang for equipment, toys, vehicles and livestock.; - Custom-built home with recent updates including fresh paint and luxury vinyl flooring.
    (972) 732-6002
    Request Owner's contact information
    304 Canales Rd Nevada, TX 75173
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    Nevada, TX 75173
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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.

    More about this property
    304 Canales Rd Nevada, TX 75173
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    We can help!
    Listing Contact
    Cindy Coats
    Real Estate License ID: 0458555
    (972) 732-6002
    Learn more
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