Sign Up Successful!
You now have access to more from Realmo!
    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

    3201 Wellington Ln Justin, TX 76247

    Sponsored
    For Sale
    $275,000

    Unimproved Land - Northlake, TX

    Type:Unimproved Land
    Lot size:
    1.01 Acres
    Days on Market:
    228
    Last Refresh:
    Jan 31 at 6:06 am

    Property Features for 3201 Wellington Ln

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    R1008042
    Lot size
    1.01 Acres

    Taxes and HOA fees

    Expense value
    960
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Libby Severance

    HomeSmart (817) 992-7871

    Listing agent Libby Severance (972) 401-1400 License #0771531

    Listing date Jun 18, 2025

    MLS# 20828293 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

    Northlake, TX Unimproved Corner Lot

    Located at 3201 Wellington Lane, Northlake, TX 76247, this north-facing corner lot offers an opportunity for a custom home build with Providential Custom Homes. The property is situated in a well-established neighborhood, providing positioning on one acre. The location offers both the peace of a residential neighborhood and the practicality of nearby commercial amenities. The surrounding neighborhood is predominantly residential, offering a tranquil environment with well-maintained homes and a sense of community. Families will appreciate being within reach of quality schools in the area. The area offers a variety of commercial services within a short drive, including shopping centers, restaurants, and convenience stores. The location is also close to essential services like grocery stores, banks, and medical facilities. With easy access to major roads and highways, this lot is positioned for commuting to nearby cities like Denton and Fort Worth. The lot size is spacious, with room for custom designs and landscaping, balancing residential comfort with convenience.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Dental Office Wholesale Shop Gym & Fitness Auto Parts Store Daycare Center Barber Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Justin
    County
    Denton
    State
    Texas
    Longitude
    -97.257864
    Latitude
    33.087088

    Nearby Similar for Sale

    • $10,000,000
      120.00 Acres

      Northlake Ranch and Homestead

      120-acre ranch in Northlake, TX with development potential.
      8145 Blair Rd, Justin, TX 76247
      View Details
    • $649,000
      0.48 Acres

      Justin TX Warehouse Investment Opportunity

      Fully leased warehouse with steady rental income in Justin, Texas.
      415 Topeka St, Justin, TX 76247
      View Details
    • $1,749,000
      64.30 Acres

      64-Acre Horse Property in Justin, TX

      Pristine horse property in Northwest ISD, minutes from Justin.
      6095 Western Star Dr, Justin, TX 76247
      View Details
    • $750,000
      1.24 Acres

      Air-Conditioned Industrial Building on Acreage

      Climate-controlled 3,000 sq ft industrial space on 1.24 acres.
      9734 Wildflower Way, Justin, TX 76247
      View Details
    • $1,499,000
      9,619 SF

      NNN Leased Preschool Investment Property

      Absolute NNN leased Kids Kampus Preschool investment property in Justin, Texas.
      427 Boss Range Rd, Justin, TX 76247
      View Details
    • Contact for pricing
      5,000 SF

      Medical Offices in Justin Town

      Medical buildings with available space in a growing community.
      803 N Pecan Pkwy, Justin, TX
      View Details
    • $259,900

      Justin, Texas Mobile Home Opportunity

      Two mobile homes on 2.5 acres in Justin, Texas.
      15335 Brock Ln, Justin, TX 76247
      View Details
    • Contact for pricing
      5,000 SF

      Medical Buildings in Justin Town

      Medical buildings coming to Justin Town Square in Fall, 2025.
      501 Justin Ln, Justin, TX
      View Details
    • Contact for pricing
      10,307 SF

      Ridge Drive Warehouse For Sale

      Warehouse property for sale in Justin, Texas.
      320 Ridge Dr, Justin, TX 76247
      View Details
    • $325,000
      912 SF

      Justin Industrial Property: Prime Location

      Versatile Commercial Space, High Visibility
      307 5Th St, Justin, TX 76247
      View Details
    • $2,100,000
      1,846 SF

      Justin Land - Prime Development Opportunity

      4.62 Acres, FM 156 Frontage, High Visibility
      18314 Fm 156, Justin, TX 76247
      View Details

    FAQs

    What type of property is this?
    Land - One-acre corner lot in a growing Northlake neighborhood.
    Where is this land located?
    The property is located at 3201 Wellington Ln Justin, TX.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: - Prime, north-facing corner lot ideal for a custom home build with Providential Custom Homes.; - Situated on a spacious one-acre lot, allowing for custom designs and landscaping.; - Located in a quiet, family-friendly residential neighborhood.
    (972) 401-1400
    Request Owner's contact information
    3201 Wellington Ln Justin, TX 76247
    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.
    3201 Wellington Ln
    Justin, TX 76247
    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
    3201 Wellington Ln Justin, TX 76247
    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
    Libby Severance
    Real Estate License ID: 0771531
    (972) 401-1400
    Learn more
    Google sign-in failed. Please try again or use another login method.