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

    W Castlelake Dr, Unit 284-286 Granite Shoals, TX 78654

    Sponsored
    For Sale
    $46,500

    LAND - Granite Shoals, TX

    Lot size:
    0.34 Acres
    Days on Market:
    142
    Last Refresh:
    Feb 11 at 5:06 pm

    Property Features for W Castlelake Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    017406
    Lot size
    0.34 Acres

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Septic Needed
    Water source
    Public

    We can help!

    Listing Contact
    Reene Bradshaw

    Phyllis Browning Company (210) 408-2500

    Listing agent Reene Bradshaw (210) 408-2500

    Listing date Sep 23, 2025

    MLS# 173461

    Copyright © 2026 Highland Lakes Association of Realtors MLS. 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

    Granite Shoals Land Opportunity

    These lots present an opportunity for building or long-term investment. The properties offer scenic views and a peaceful living environment. Located in Granite Shoals, Texas, the lots are near new construction, potentially benefiting from increasing property values and market expansion. The waterfront City of Granite Shoals Park is nearby. There are seven lots in total: four on W Castlebriar (lots 320-323) and three on W Castlelake (lots 284-286). Six of the lots extend from street to street. Each lot is priced at $15,500. Individual lots may be purchased.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Granite Shoals
    County
    State
    Texas
    Longitude
    -98.387775
    Latitude
    30.59529828

    Nearby Similar for Sale

    • $340,000
      1,200 SF

      Granite Shoals Commercial Building For Sale

      Versatile commercial building on a high-traffic corner lot.
      802 N Phillips Ranch Rd, Granite Shoals, TX 78654
      View Details
    • $315,000
      0.05 Acres

      Granite Shoals Land For Sale

      Retail land available in Granite Shoals, Texas.
      Pointview Dr, Granite Shoals, TX 78654
      View Details
    • $235,000

      Two Homes on Corner Lot

      Two homes on a large corner lot, great investment opportunity.
      1030 Kingsriver Dr, Granite Shoals, TX 78654
      View Details
    • Contact for pricing

      Lake LBJ Furnished Condo

      Turn-key condo with deeded boat slip on Lake LBJ.
      806 Highcrest Dr, Granite Shoals, TX 78654
      View Details
    • Contact for pricing

      Granite Shoals Commercial Building

      Commercial building with high visibility and multiple potential uses.
      802 N Phillips Ranch Rd, Granite Shoals, TX 78654
      View Details
    • Contact for pricing

      Granite Shoals Commercial Opportunity

      Multi-use commercial property with retail and restaurant potential.
      906 N Phillips Ranch Rd, Granite Shoals, TX 78654
      View Details
    • Contact for pricing

      Commercial Lot in High-Traffic Area

      Corner lot with multi-storage and covered areas in Granite Shoals.
      908 N Phillips Ranch Rd, Granite Shoals, TX 78654
      View Details
    • Contact for pricing

      Granite Shoals Office Unit

      Office unit with reception area and central heat and air.
      808 N Phillips Ranch Rd, Granite Shoals, TX 78654
      View Details
    • Contact for pricing

      Shorewood Land in Granite Shoals

      Land available in Granite Shoals, Texas.
      1001 Shorewood Cir, Granite Shoals, TX 78654
      View Details
    • Contact for pricing

      Granite Shoals Specialty Property

      Specialty property available for sale in Granite Shoals, Texas.
      1004 Shorewood Cir, Granite Shoals, TX 78654
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Seven lots available in Granite Shoals, priced individually.
    Where is this residential land & home lot located?
    The property is located at W Castlelake Dr, Unit 284-286 Granite Shoals, TX.
    What is the asking price?
    The asking price for this property is $46,500.
    What are key features of this property?
    This property features: - Priced at $15,500 per lot, offering an affordable entry point.; - Seven lots available, providing options for size and location (W Castlebriar & W Castlelake).; - Six lots offer street-to-street access.
    (832) 250-6211
    Request Owner's contact information
    W Castlelake Dr, Unit 284-286 Granite Shoals, TX 78654
    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.
    W Castlelake Dr, Unit 284-286
    Granite Shoals, TX 78654
    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
    W Castlelake Dr, Unit 284-286 Granite Shoals, TX 78654
    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
    Reene Bradshaw
    Real Estate License ID: 0726972
    (832) 250-6211
    Learn more
    Google sign-in failed. Please try again or use another login method.