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

    305 Lake Ridge Rd Canyon, TX 79015

    Sponsored
    For Sale
    $139,000

    LAND - Canyon, TX

    Lot size:
    2.00 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 4 at 2:06 am

    Property Features for 305 Lake Ridge Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    183616
    Lot size
    2.00 Acres

    We can help!

    Listing Contact
    Brad Douglass

    Larry Brown Realtors, Inc (806) 358-7421

    Listing agent Brad Douglass

    Listing date Mar 3, 2026

    MLS# 26-1897 Listing URL

    Copyright © 2026 Amarillo Association of REALTORS. 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

    Land in Gated Community

    This property features a 2-acre lot situated within The Canyons, a gated community. The lot offers views and includes a paved road leading to the property. It is located in Canyon, Texas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Canyon
    County
    Randall
    State
    Texas
    Longitude
    -101.777801
    Latitude
    35.036117

    Nearby Similar for Sale

    • $425,000
      2,767 SF

      Canyon, TX Commercial Property

      Commercial property near downtown square, suitable for office or retail.
      1610 5Th Ave, Canyon, TX 79015
      View Details
    • New
      $349,900
      3,214 SF

      Canyon, TX Duplex Opportunity

      Three-bedroom, two-bath duplex with strong rental potential in Canyon, TX.
      29 Southridge Dr, Canyon, TX 79015
      View Details
    • $640,000
      80.00 Acres

      80 Acres Near Canyon, TX

      80-acre property suitable for horses and livestock near Canyon.
      80 Acres, Canyon, TX 79015
      View Details
    • $325,000
      10.18 Acres

      Equestrian Property Near Canyon, TX

      10-acre property equipped for livestock and ready for your dream home.
      26351 Rosie Ln, Canyon, TX 79015
      View Details
    • $7,490,000
      20,488 SF

      New Multifamily Investment Opportunity

      Newly built 18-unit multifamily property near WTAMU and Hunsley Hills.
      2 S Hunsley Hills Blvd, Canyon, TX 79015
      View Details
    • $150,000
      1,800 SF

      Commercial Shop Near Highway 60

      1,800 SF commercial shop with fenced yard near Highway 60.
      903 1St Ave, Canyon, TX 79015
      View Details
    • $7,440,000
      340.00 Acres

      Hunter's Canyon Estate For Sale

      Magnificent 340-acre estate with lodge, horse facilities, and guest housing.
      21401 Hope Rd, Canyon, TX 79015
      View Details
    • $169,900
      2,612 SF

      Canyon, TX Multi-Family Investment

      Triplex and single-family home near schools and university.
      805 8Th Ave, Canyon, TX 79015
      View Details
    • $500,000
      28.56 Acres

      RV Park Near Palo Duro

      RV park with 16 hookups near Palo Duro Canyon.
      Pd Cyn Rv Park Tradewind St, Canyon, TX 79015
      View Details
    • Contact for pricing
      10,432 SF

      Retail Property with Diverse Tenants

      NNN leases and scheduled rental increases for investors.
      1512 5Th Ave, Canyon, TX 79015
      View Details
    • $780,000

      Canyon Commercial Land Opportunity

      86+ Acres, Prime Development Land
      208 Prairie Pt, Canyon, TX 79015
      View Details
    • $501,811

      Canyon Commercial Land - High Traffic

      Prime Canyon location, high visibility, 0.96 acres.
      .96 Ac Uh 60, Canyon, TX 79015
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two-acre lot with views in gated Canyon community.
    Where is this commercial land located?
    The property is located at 305 Lake Ridge Rd Canyon, TX.
    What is the asking price?
    The asking price for this property is $139,000.
    What are key features of this property?
    This property features: - 2 acre lot; - Incredible views; - Located in The Canyons gated community
    (806) 358-7421
    Request Owner's contact information
    305 Lake Ridge Rd Canyon, TX 79015
    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.
    305 Lake Ridge Rd
    Canyon, TX 79015
    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
    305 Lake Ridge Rd Canyon, TX 79015
    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
    Brad Douglass
    (806) 358-7421
    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!