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    Boutique Office Condo Development Title is generated by Realmo AI

    E I-35 Drive, Lewisville, TX 75067

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    For Sale
    $1,500,000

    SINGLE_FAMILY - Lewisville, TX

    Type:Office
    Lot size:
    2.22 Acres
    Added:
    Jan 16, 2026
    Days on Market:
    141
    Last Refresh:
    Jun 6 at 10:06 am

    Property Features for E I-35 Drive

    General Information

    Property type
    Residential
    Property subtype
    Office
    Property condition
    Under Construction
    Standard status
    Active
    APN
    R179734
    Lot size
    2.22 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    2027
    Floors in Building
    2
    Number of units
    10
    Flooring type
    Tile, Carpet
    Building materials
    Brick, Frame, Concrete, Rock, Stone, StoneVeneer
    Roof type
    Composition

    We can help!

    Listing Contact
    Michael Song

    Listing agent Michael Song License #0751867

    Listing office Texas Legacy Realty Carrollton, TX

    Listing date Jan 16, 2026

    MLS# 21148119

    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

    • Under construction luxury office condominium development in Lewisville, TX, with an expected 2027 build year
    • Boutique project with ten approximately 3,000 SF, free‑standing office condo units
    • Central heating with natural gas and central air cooling; electric cooling
    • Public utilities: public water and public sewer
    • Materials include brick, frame, concrete, rock, and stone veneer; roof is composition
    • Tenants/owners have flexible occupancy options for owner‑users and investors

    Overview

    Legacy Park at Vista Ridge is a boutique luxury office condominium development featuring ten approximately 3,000-square-foot, free-standing office condos designed for professional users. The property is structured to support flexible occupancy options, which can suit both owner-users looking for long-term space control and investors seeking long-term appreciation or a strategic exit. As a condominium-style offering, it provides a practical approach for buyers who want ownership with the option to tailor how they occupy and utilize the individual office units.

    Located within a rapidly evolving mixed-use corridor, the development is positioned to benefit from visibility and strong traffic exposure, along with convenient regional access. The nearby commercial momentum is reinforced by major surrounding projects, including The Vista and Lake Vista Technology Park, supporting the area’s continued growth as an office and mixed-use destination.

    This offering is well-suited for professional tenants and buyers who value independent, freestanding office condominiums rather than a traditional multi-tenant layout. For investors, the combination of flexible occupancy and the market’s evolving commercial demand may align with strategies focused on steadier performance over time. For owner-users, it offers a way to secure a dedicated office condo while remaining positioned in a high-exposure corridor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Lewisville
    County
    Denton
    State
    Texas
    Longitude
    -96.967715
    Latitude
    33.000939

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    FAQs

    What type of property is this?
    Office units - Ten free-standing office condos in a mixed-use corridor, offering flexible occupancy for owner-users and investors.
    Where is this office units located?
    The property is located at E I-35 Drive Lewisville, TX.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Under construction luxury office condominium development in Lewisville, TX, with an expected 2027 build year; Boutique project with ten approximately 3,000 SF, free‑standing office condo units; Central heating with natural gas and central air cooling; electric cooling
    (469) 855-4430
    We can help!
    Listing Contact
    Michael Song
    Real Estate License ID: 0751867
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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.

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