Add Listing
    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

    1008 Shankle Rd Ennis, TX 75119

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    182 acres of land for sale in Ennis, TX.

    Type:Land
    Lot size:
    182.60 Acres
    Added:
    Feb 6, 2026
    Days on Market:
    73
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 1008 Shankle Rd

    General Information

    Standard status
    Active
    Lot size
    182.60 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Mike Smith
    Mike Smith

    Listing agent Mike Smith License #TX 635303

    Listing office Airstream Realty LLC

    Listing date Feb 6, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Airstream Realty LLC

    Overview

    182 Acres Land in Ennis, TX

    This property features approximately 182.60 acres of land located on Shankle Rd in Ennis, TX. The property is identified by Property ID 178878. It is situated outside of the Palmer ETJ. The property is not located in a flood plain. A sewer permit has been issued by TCEQ for 500,000 gallons per day. A current project proposes a development of 90 lots of 2 acres each, with plans to drill wells for water. The surrounding area is experiencing rapid growth, characterized by strong regional population increases and expanding infrastructure within Ellis County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Greenlee Acres Bed & Breakfast

    Suggested Use

    Restaurant Bed & Breakfast Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Ennis
    County
    Ellis
    State
    Texas
    Longitude
    -96.606382
    Latitude
    32.4077228

    Nearby Similar for Sale

    • $975,000

      Ennis Retail Center on Highway

      12,200 SF retail center on 2.5 acres in Ennis, TX.
      2400 W Ennis Avenue, Ennis, TX 75119
      View Details
    • $375,000

      Ennis Shop and Workshop Warehouse

      Commercial property with high visibility and versatile layout options.
      700 S Interstate Highway 45, Ennis, TX 75119
      View Details
    • $349,900

      Ennis Commercial Site on Creechville

      0.8-acre commercial site with visibility and accessibility.
      103 Creechville Road, Ennis, TX 75119
      View Details
    • $599,999

      Ennis Corner Lot Opportunity

      Prime commercial corner lot in Ennis, Texas, for sale.
      100 S Kaufman Street, Ennis, TX 75119
      View Details
    • $380,000

      Turnkey Food Truck Bar Space

      Food truck bar space in historic downtown Ennis, Texas.
      115 Main Street, Ennis, TX 75119
      View Details
    • $319,500

      Commercial Land in Growing Alma

      Prime commercial lot with highway frontage in rapidly developing area.
      7311 S Interstate 45 Service Road, Alma, TX 75119
      View Details
    • $770,000
      3,709 SF

      Ennis Home with Acreage

      Spacious home on 11.958 acres near Ennis, Texas.
      839 Walker Creek Road, Ennis, TX 75119
      View Details
    • $399,000

      Modern Duplex in Ennis, TX

      Income-producing duplex built in 2021, convenient location, currently leased.
      709 W Madison Street, Ennis, TX 75119
      View Details
    • $225,000

      Ennis Office Near Downtown

      Office space near historic downtown Ennis, Texas.
      607 W Brown Street, Ennis, TX 75119
      View Details
    • $263,500

      Historic Downtown Retail Space

      Versatile commercial space in Ennis's historic district.
      215 Main Street SW, Ennis, TX 75119
      View Details
    • $1,800,000

      Bowling Alley on Ennis Avenue

      Commercial building with bowling alley, bar, and kitchen for sale.
      2303 W Ennis Avenue, Ennis, TX 75119
      View Details
    • $1,890,000
      2,720 SF

      Ennis Farm/Ranch with Stocked Lake

      102+ acre property with a spacious home and stocked lake.
      751 Sullivan Road, Ennis, TX 75119
      View Details

    FAQs

    What type of property is this?
    Land - 182 acres of land for sale in Ennis, TX.
    Where is this land located?
    The property is located at 1008 Shankle Rd Ennis, TX.
    What is the asking price?
    The asking price for this property is $3,560,700.
    What are key features of this property?
    This property features: ±182.60 Acres; Sewer permit issued by TCEQ for 500,000 gallons per day; Property is not in a flood plain
    (214) 206-6940 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mike Smith
    Mike Smith
    Real Estate License ID: TX 635303
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!