Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Rockwall Land with Development Potential Title is generated by Realmo AI

    Hance Trail lot 3, Rockwall, TX 75087

    View on Map
    Claim this Listing
    For Sale
    $795,000

    LAND - Rockwall, TX

    Lot size:
    3.20 Acres
    Added:
    May 20, 2026
    Days on Market:
    17
    Last Refresh:
    Jun 5 at 8:06 am

    Property Features for Hance Trail lot 3

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    000000019470
    Lot size
    3.20 Acres

    Taxes and HOA fees

    Tax Description
    L L LEONARD, LOT 1, ACRES 5.165, (PT OF 13.17
    Tax Annual Amount
    936

    Utilities

    Water front features
    Lake Front, Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Rod Holland

    Listing agent Rod Holland License #0361507

    Listing office Keller Williams Rockwall Rockwall, TX

    Listing date May 20, 2026

    MLS# 21276419 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.

    HighLights

    • Over 12 acres with AG Exemption offering investment potential or a site for a single residence.
    • Lakefront property.
    • Development potential, subject to city approval.
    • Potential for multiple homesites contingent on plat approval.
    • Shops or Barns allowed, per city requirements.
    • Utilities (Gas, Water, Elect) appear nearby, buyer to verify.

    Overview

    This property consists of 3.2 acres of unimproved land. It offers options for potential buyers, including purchasing all 12+ acres (total acreage not specified for this particular lot) and maintaining its AG Exemption as an investment. Alternatively, it could be used to build a single residence. The property also presents a development opportunity, subject to city approval. A buyer could contract a homesite fully contingent upon City Approval. If the current owner gets the 4 homesite Plat approved, there would be deed restrictions in place that are still yet to be determined but more than likely min sq footage would be 3500SF to 4000SF min. Shops or Barns would be allowed (per city requirements & code). A rendering is available that shows a possible development concept, but it is an approximate rendering and not exactly what would be approved. Gas, water, and electricity appear to be nearby, but the buyer is responsible for verifying utility availability.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Rockwall
    County
    Rockwall
    State
    Texas
    Longitude
    -96.4505407
    Latitude
    32.9502345

    Nearby Similar for Sale

    • $1,400,000

      Office Complex with Barn and Car Wash

      A high-visibility site with office improvements and an on-site barn for flexible commercial uses.
      3435 State Highway 276, Rockwall, TX 75032
      View Details
    • $1,206,490
      2,115 SF

      Land Tract with Existing Structure

      As-is land value opportunity with an existing 2,115 SF structure for medical, retail, or restaurant development.
      5811 Horizon, Rockwall, TX 75032
      View Details
    • $398,000

      Residential Office Zoned Property

      Residential office–zoned site with direct frontage on Goliad and high traffic exposure, offered as-is for land value.
      808 N Goliad Street, Rockwall, TX 75087
      View Details
    • $998,000

      Historic Medical Office Building

      Iconic restored property with ADA compliance, two elevators, and a flexible medical-to-office layout in a mixed-use setting.
      908 N Goliad Street, Rockwall, TX 75087
      View Details
    • $999,900

      Commercial Land with Road Frontage

      Zoned C2 acreage with substantial Horizon Road frontage and on-site utilities, offering flexible development potential.
      5627 Horizon Road, Rockwall, TX 75032
      View Details
    • $895,000

      Versatile Downtown Retail Building

      3,000-sq-ft building with dedicated parking and Downtown Development District zoning for retail, office, medical, or restaurant use.
      201 E Washington Street, Rockwall, TX 75087
      View Details
    • $850,000

      Prime Highway-Frontage Commercial Land

      Vacant commercial land with frontage on SH-205, featuring utilities on two combined lots for development-ready flexibility.
      1300 S Hwy 205, McLendon Chisholm, TX 75032
      View Details
    • $650,000

      Flexible Office-Use Commercial Building

      High-visibility commercial building offers adaptable interior space and dual street access in a high-traffic corridor.
      915 N Goliad Street, Rockwall, TX 75087
      View Details
    • $1,302,095

      Corner Commercial Land with Tear-Down Improvements

      Corner site with existing building and tear-down structures, positioned for medical, retail, or restaurant development near key amenities.
      Ranch Trail, Rockwall, TX 75032
      View Details
    • $2,509,056
      2,115 SF

      Corner Commercial Land Opportunity

      Busy corner site with existing building and barn, well-suited for redevelopment and a wide range of commercial uses.
      5811 Horizon & 00 Ranch Trail Road, Rockwall, TX 75032
      View Details
    • $5,065,157

      High-Visibility Highway Frontage Land

      Commercial development acreage with strong SH 205 visibility, utilities, and additional billboard lease income potential.
      770 S State Highway 205 Extension, Rockwall, TX 75032
      View Details
    • $1,500,000

      Commercial Land Opportunity

      Large acreage in McLendon Chisholm offers flexibility for an appropriate commercial development concept.
      771 S State Highway 205, McLendon Chisholm, TX 75032
      View Details

    FAQs

    What type of property is this?
    Land - Unimproved land offering investment or development opportunities in Rockwall, TX.
    Where is this land located?
    The property is located at Hance Trail lot 3 Rockwall, TX.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: Over 12 acres with AG Exemption offering investment potential or a site for a single residence.; Lakefront property.; Development potential, subject to city approval.
    (972) 772-7000
    We can help!
    Listing Contact
    Rod Holland
    Real Estate License ID: 0361507
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    Hance Trail lot: 3, Rockwall, TX 75087
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!