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

    8232 County Road 508 Alvarado, TX 76009

    Sponsored
    For Sale
    Under Contract
    $135,000

    Unimproved Land - Alvarado, TX

    Type:Unimproved Land
    Lot size:
    1.02 Acres
    Days on Market:
    11
    Last Refresh:
    Feb 1 at 3:06 am

    Property Features for 8232 County Road 508

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active Under Contract
    APN
    126046601150
    Exterior features
    Fence
    Fencing
    Fenced
    Lot size
    1.02 Acres

    Utilities

    Heating system
    None (Heating)

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Brenda Arellano
    Brenda Arellano

    CENTURY 21 Judge Fite Company (817) 960-9611

    Listing agent Brenda Arellano (817) 960-9611 License #0745369

    Listing date Jan 22, 2026

    MLS# 21052819 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

    Cleared Land in Quiet Alvarado

    This fully fenced lot, a little over 1 acre, is located on a peaceful and quiet road in Alvarado. The land has been cleared of trees, providing a blank canvas for designing a home. Septic and city water are in place. This property is suitable for building a home, placing a workshop, or enjoying as a recreational retreat. This versatile lot is ready for new owners.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Building Supply Auto Repair Shop Smoke and Vape Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Alvarado
    County
    Johnson
    State
    Texas
    Longitude
    -97.197062
    Latitude
    32.439476

    Nearby Similar for Sale

    • $3,766,500
      2,022 SF

      Historic Ranch Property Near Alvarado

      279-acre ranch with a traditional home and abundant water sources.
      4045 County Road 212, Alvarado, TX 76009
      View Details
    • $174,500
      1.37 Acres

      Spacious Lot in Cotter Oaks

      1.05-acre lot with a 3-bedroom home and mature trees.
      402 S Watson St, Alvarado, TX 76009
      View Details
    • $249,900
      1,080 SF

      Updated Home on Peaceful Acres

      Remodeled 3-bedroom home on 1.2 acres in Alvarado, TX.
      3709 County Road 401B, Alvarado, TX 76009
      View Details
    • $749,000
      0.75 Acres

      Corner-Lot Commercial Property Near I-35

      High-visibility corner lot suitable for retail, medical, or fitness uses.
      5236 Highway 67 E, Alvarado, TX 76009
      View Details
    • New
      $3,290,000
      13,200 SF

      New Alvarado Apartments with Amenities

      New one-bedroom apartments with modern amenities in a secure setting.
      8092 County Road 604, Alvarado, TX 76009
      View Details
    • $250,000
      0.63 Acres

      Commercial Property with Restaurant Potential

      Commercial property with existing restaurant and outdoor dining area.
      201 N Parkway Dr, Alvarado, TX 76009
      View Details
    • $65,000
      0.54 Acres

      Commercial Office Property in Alvarado

      8,350 SF commercial property on over half an acre.
      208 E Purdom Ave, Alvarado, TX 76009
      View Details
    • $2,498,000

      I-35W Warehouse with Yard

      23,400 SF warehouse on 2.3 acres near I-35W.
      6921 Cow Pasture St, Alvarado, TX 76009
      View Details
    • $1,000,000

      Industrial Building with Residential Home

      Industrial building with office space and updated four-bedroom home.
      4728 Highway 67 E, Alvarado, TX 76009
      View Details
    • Contact for pricing
      52,000 SF

      Alvarado Specialty Property Near Highways

      52,000 sqft specialty property with highway access in Alvarado, TX.
      4632 County Road 617, Alvarado, TX 76009
      View Details
    • Contact for pricing
      52,000 SF

      Alvarado Specialty Property Near Highways

      Specialty property with convenient access to major highways.
      4632 County Road 617, Alvarado, TX 76009
      View Details
    • $5,148,000
      52,000 SF

      Available Warehouse Space For Sale

      52,000 SF warehouse space with grade-level doors, parking.
      12713 Private Access 61702, Alvarado, TX
      View Details

    FAQs

    What type of property is this?
    Land - 1+ acre lot ready for building or recreation in Alvarado.
    Where is this land located?
    The property is located at 8232 County Road 508 Alvarado, TX.
    What is the asking price?
    The asking price for this property is $135,000.
    What are key features of this property?
    This property features: - Cleared 1+ acre lot ready for building.; - Septic and city water already in place.; - Fully fenced property.
    (817) 960-9611
    Request Owner's contact information
    8232 County Road 508 Alvarado, TX 76009
    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.
    8232 County Road 508
    Alvarado, TX 76009
    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
    8232 County Road 508 Alvarado, TX 76009
    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
    Brenda Arellano
    Brenda Arellano
    Real Estate License ID: 0745369
    (817) 960-9611
    Learn more
    Google sign-in failed. Please try again or use another login method.