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

    485 Russell Dr Rockwall, TX 75032

    Sponsored
    For Sale
    $150,000

    Unimproved Land - Rockwall, TX

    Type:Unimproved Land
    Lot size:
    0.33 Acres
    Days on Market:
    163
    Last Refresh:
    Feb 14 at 8:06 pm

    Property Features for 485 Russell Dr

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    25196
    Lot size
    0.33 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kathy Riddle

    Riddle Team Realty (214) 435-0688

    Listing agent Kathy Riddle (214) 435-0688 License #0457943

    Listing date Sep 5, 2025

    MLS# 20896127 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

    Rockwall Land Near Lake

    This offering consists of 0.33 acres of unimproved land, comprising two lots being sold together. The property features some trees and significant frontage. City work is currently underway to install a sewer line. Mobile homes are not allowed, and existing mobile homes will not be replaced once they are no longer usable. The land is located near Rockwall Lake.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Skin Care Clinic Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockwall
    County
    Rockwall
    State
    Texas
    Longitude
    -96.445897
    Latitude
    32.885554

    Nearby Similar for Sale

    • $1,099,000
      0.41 Acres

      Rockwall Mixed-Use Commercial Building

      High-visibility mixed-use commercial building near Rockwall's historic square.
      501 S Goliad St, Rockwall, TX 75087
      View Details
    • $650,000
      0.50 Acres

      Rockwall Commercial Building on Goliad

      Versatile commercial building on a high-traffic thoroughfare in Rockwall.
      915 N Goliad St, Rockwall, TX 75087
      View Details
    • New
      $489,000
      1,733 SF

      Rockwall Turnkey Investment Opportunity

      Cozy 3-bedroom home with short-term rental history in Rockwall.
      824 E Heath St St, Rockwall, TX 75087
      View Details
    • $895,000
      3,000 SF

      Rockwall Historic Town Square Building

      Prime Rockwall building suitable for retail, office, medical, or restaurant.
      201 E Washington St, Rockwall, TX 75087
      View Details
    • $1,500,000
      2,450 SF

      Two-Story Office Building on Two Acres

      Two-story office building on 2 acres near Rockwall Technology Park.
      3435 State Highway 276, Rockwall, TX 75032
      View Details
    • $625,000
      4.99 Acres

      Rockwall Warehouse on 5 Acres

      Warehouse shell on 5 acres ready for customization.
      1500 S Smith Rd, Rockwall, TX 75032
      View Details
    • $749,999
      0.30 Acres

      Versatile Buildings in Rockwall, TX

      Two buildings with parking, open floorplans, near downtown Rockwall.
      911 N Goliad St, Rockwall, TX 75087
      View Details
    • $399,900
      0.11 Acres

      Rockwall Commercial Property with Charm

      Unique commercial property near downtown Rockwall with flexible spaces.
      302 W Rusk St, Rockwall, TX 75087
      View Details
    • $279,900
      1,405 SF

      Single-Story Condo with Lake Views

      Ground floor condo in Rockwall ISD with lake views.
      1891 Signal Ridge Pl, Rockwall, TX 75032
      View Details
    • Contact for pricing

      Prime Retail Land Opportunity

      Land for retail, restaurant, or medical development near hospital.
      Ranch Trl, Rockwall, TX 75032
      View Details
    • Contact for pricing
      12,891 SF

      Rockwall Brewery and Restaurant Opportunity

      Former brewery and restaurant walkable to Downtown Rockwall.
      310 S Goliad St, Rockwall, TX 75087
      View Details
    • $699,000
      2,400 SF

      Warehouse with Highway Visibility

      Warehouse space on a corner lot with highway visibility.
      2038 Sunny Cir, Rockwall, TX 75032
      View Details

    FAQs

    What type of property is this?
    Land - Two combined lots totaling 0.33 acres near Rockwall Lake.
    Where is this land located?
    The property is located at 485 Russell Dr Rockwall, TX.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: - Large .33 acre lot (two lots sold together).; - City sewer line installation in progress.; - Abundant frontage.
    (214) 435-0688
    Request Owner's contact information
    485 Russell Dr Rockwall, TX 75032
    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.
    485 Russell Dr
    Rockwall, TX 75032
    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
    485 Russell Dr Rockwall, TX 75032
    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
    Kathy Riddle
    Real Estate License ID: 0457943
    (214) 435-0688
    Learn more
    Google sign-in failed. Please try again or use another login method.