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    Redevelopment Land Parcel Title is generated by Realmo AI

    100 W Rock Island Road, Irving, TX 75060

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    LAND - Irving, TX

    Lot size:
    0.57 Acres
    Added:
    May 20, 2026
    Days on Market:
    17
    Last Refresh:
    Jun 5 at 6:06 am

    Property Features for 100 W Rock Island Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    32-21627-00A-001-0000
    Lot size
    0.57 Acres

    Taxes and HOA fees

    Tax Description
    HERITAGE CROSSING 1 BLK A LT 1 ACS 0.5695

    Building Details

    Floors in Building
    1

    We can help!

    Listing Contact
    Jamie Wickliffe

    Listing agent Jamie Wickliffe License #0368339

    Listing office CENTURY 21 Judge Fite Company Dallas, TX

    Listing date May 20, 2026

    MLS# 21161042

    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

    • City of Irving redevelopment bid with a deadline of April 24, 2026
    • Competitive bid process for the purchase and redevelopment of 100 W Rock Island Road
    • Property is within the City of Irving’s Redevelopment Land Bank
    • Proposed mixed‑use concept: commercial retail downstairs
    • Residential and/or office use planned upstairs
    • City goals include advancing economic growth, supporting retail and workspace/housing uses, and promoting sustainability

    Overview

    This is a redevelopment land bank parcel offered through a competitive bid process. The City of Irving is inviting proposals from qualified and experienced developers for the purchase and redevelopment of the property at 100 W Rock Island Road. The intended outcome is a high-quality mixed-use development with commercial retail on the lower level and residential and/or office space upstairs.

    The City’s redevelopment goals emphasize advancing economic growth and supporting retail, commercial, workspace, and housing uses. The project framework also highlights sustainability, meeting community needs in targeted development districts, and ensuring transparent community engagement. Respondents are directed to the transaction documents for additional request for proposal details, and the public remarks note that the bid deadline is April 24, 2026.

    For developers and investors, this site aligns with a mixed-use strategy that pairs street-level retail with upper-level living and/or workspace. The property is being marketed specifically for redevelopment within the City’s Redevelopment Land Bank program, which may appeal to teams seeking an opportunity structured around municipal goals and community engagement expectations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.9398
    Latitude
    32.870104

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    FAQs

    What type of property is this?
    Commercial land - City redevelopment land bank site targeted for mixed-use retail with residential and/or office above.
    Where is this commercial land located?
    The property is located at 100 W Rock Island Road Irving, TX.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: City of Irving redevelopment bid with a deadline of April 24, 2026; Competitive bid process for the purchase and redevelopment of 100 W Rock Island Road; Property is within the City of Irving’s Redevelopment Land Bank
    (214) 920-9611
    We can help!
    Listing Contact
    Jamie Wickliffe
    Real Estate License ID: 0368339
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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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