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    516 N Garza Rd Shady Shores, TX 76208

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    Sponsored
    For Sale
    $650,000

    Improved Land - Shady Shores, TX

    Property size:
    600 SF
    Lot size:
    0.54 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 27 at 10:06 am

    Property Features for 516 N Garza Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    R246896
    Size
    600 SF
    Lot size
    0.54 Acres

    Utilities

    Water front features
    Lake Front – Corps Of Engineers, Waterfront
    Water front
    1

    Building Details

    Year built
    1953
    Architectural style
    Other

    We can help!

    Listing Contact
    Melissa Cooper

    INC REALTY, LLC

    Listing agent Melissa Cooper License #0743420

    Listing date Mar 26, 2026

    MLS# 21215932 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

    Shady Shores Land with Home

    This property offers a rare opportunity to own over 2 acres in Shady Shores, Texas, near Lake Lewisville. Located at the end of a quiet cul-de-sac, the land backs up to Corps of Engineers property, ensuring added privacy and natural views. The offering includes two adjoining parcels (514 & 516 Garza Ln) being sold together, providing space, flexibility, and future potential. The main property features a 3-bedroom, 2.5-bath home situated on over an acre, with all bedrooms located upstairs and a wraparound porch. The kitchen is centrally positioned between the dining area and a breakfast nook. Multiple bay windows in the primary bedroom, front bedroom, dining room, family room, and breakfast nook bring in natural light. Plantation shutters are installed downstairs and in the primary bedroom. The home includes two fireplaces, one in the family room and one in the primary bedroom. A 600 sq ft detached garage-workshop with electricity provides space for hobbies, storage, or workspace needs. A tree-lined driveway with blooming wisteria welcomes you upon entering the property. A chicken coop and established fig orchard add to the charm. The additional parcel provides added space and flexibility for a variety of future uses. The combined acreage is approximately 2.28 acres. The properties are to be sold together. City water service is available. The lot size is 0.541 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Shady Shores
    County
    Denton
    State
    Texas
    Longitude
    -97.039114
    Latitude
    33.176674

    FAQs

    What type of property is this?
    Residential land & home lot - 2+ acres with 3-bedroom home near Lake Lewisville.
    Where is this residential land & home lot located?
    The property is located at 516 N Garza Rd Shady Shores, TX.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Over 2 acres in Shady Shores near Lake Lewisville, offering space and future potential.; - Backs to Corps of Engineers land for added privacy and natural views.; - Two adjoining parcels being sold together.
    (972) 351-1095
    Request Owner's contact information
    516 N Garza Rd Shady Shores, TX 76208
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    Shady Shores, TX 76208
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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
    516 N Garza Rd Shady Shores, TX 76208
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    We can help!
    Listing Contact
    Melissa Cooper
    Real Estate License ID: 0743420
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