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    Zoned Multifamily Development Land Title is generated by Realmo AI

    100 Lake Trail Drive, Red Oak, TX 75154

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    Claim this Listing
    For Sale
    $3,750,000

    LAND - Red Oak, TX

    Lot size:
    23.01 Acres
    Added:
    Jan 22, 2026
    Days on Market:
    132
    Last Refresh:
    Jun 3 at 4:06 pm

    Property Features for 100 Lake Trail Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    APN
    277071
    Lot size
    23.01 Acres

    Taxes and HOA fees

    Tax Description
    836 G C PARKS 23.008 ACRES
    Tax Annual Amount
    15900

    Utilities

    Water source
    Public

    Building Details

    Year built
    2010
    Floors in Building
    1

    We can help!

    Listing Contact
    Sam Jenkins

    Listing agent Sam Jenkins License #0788992

    Listing office Tero Real Estate Waxahachie, TX

    Listing date Jan 22, 2026

    MLS# 21160428

    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

    • 23.008‑acre tract in Red Oak, TX, within city limits and zoned Residential Multifamily
    • Access to public water and sewer
    • Approximately 0.75 miles from Interstate 35 for regional transportation access
    • Under construction; year built listed as 2010
    • Multifamily/apartment development potential subject to final site plan approval

    Overview

    Prime 23.008-acre tract located within the city limits of Red Oak, Texas. The property offers access to water and sewer and is zoned Residential Multifamily, creating a straightforward foundation for a multifamily or apartment development. Final site plan approval will be required before any project can move forward.

    The site is positioned within the Red Oak market and sits about 0.75 miles from Interstate 35, supporting strong regional connectivity. It is also positioned close to retail, employment centers, and growing residential neighborhoods, which may be attractive for developers seeking sustained demand in Ellis County.

    This land is best suited for residential developers and investors looking to pursue a larger-scale multifamily concept where zoning already aligns with the intended end use. With city utility access and a multifamily designation, the property offers a practical platform for planning and entitlement, subject to the site plan approval process.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Red Oak
    County
    Ellis
    State
    Texas
    Longitude
    -96.808238
    Latitude
    32.519698

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    FAQs

    What type of property is this?
    Residential land & home lot - Large tract in Red Oak with city utilities and multifamily zoning for apartments, subject to site plan approval.
    Where is this residential land & home lot located?
    The property is located at 100 Lake Trail Drive Red Oak, TX.
    What is the asking price?
    The asking price for this property is $3,750,000.
    What are key features of this property?
    This property features: 23.008‑acre tract in Red Oak, TX, within city limits and zoned Residential Multifamily; Access to public water and sewer; Approximately 0.75 miles from Interstate 35 for regional transportation access
    (972) 777-4141
    We can help!
    Listing Contact
    Sam Jenkins
    Real Estate License ID: 0788992
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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
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