Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    W Of Morriss Rd Highland Village, TX

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Land with high traffic, near community center and Tom Thumb.

    Lot size:
    1.15 Acres

    Property Features for W Of Morriss Rd

    General Information

    Lot size
    1.15 Acres

    We can help!

    Listing Contact
    Natalia Singer
    Source: Moodyscre

    Listing Agent: Natalia Singer

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

    Learn more

    Overview

    High Visibility Land For Rent

    This land for rent offers high visibility with over 30,000 vehicles per day on Farm to Market Road 407. The property is located just west of Morriss Road and is situated across from a 90,000 square foot community center anchored by Tom Thumb.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Highland Village
    County
    Denton
    State
    Texas
    Longitude
    -97.0466759
    Latitude
    33.091788

    Nearby Similar for Lease

    • Contact for pricing
      17,181 SF

      Highland Village Retail Spaces Available

      Prime Retail, Multiple Spaces, DFW Area
      3060 Justin Rd, Highland Village, TX 75077
      View Details
    • $675,000
      1,690 SF

      Highland Village Office Condo

      Office condo in Highland Village near shops and amenities.
      2700 Village Pkwy, Highland Village, TX 75077
      View Details
    • $6,500 /Mo
      3,750 SF

      Highland Village Office Leasing Opportunity

      Premier office space available in Highland Village, Texas.
      1990 Justin Rd, Highland Village, TX
      View Details
    • Contact for pricing
      2,662 SF

      Premier Shopping Destination in Highland

      Shopping center with retail, dining, and office spaces available.
      4100 Deer Crk, Highland Village, TX
      View Details
    • $500 /Mo
      72 SF

      Highland Village Office Space Available

      Two-story office building near FM 407, suitable for medical/dental.
      2340 Justin Rd, Highland Village, TX
      View Details
    • $23 SF/Yr
      1,477 SF

      Highland Village Office Space Available

      Office space for lease in upscale Highland Village lifestyle center.
      1401-1701 Shl Crk, Highland Village, TX
      View Details
    • $3,645 /Mo

      Retail Space in Highland Village

      Retail space in high-traffic shopping center, Highland Village, TX.
      1940 110, Highland Village, TX 75077
      View Details
    • Contact for pricing

      High Visibility Retail Space Available

      Retail space with drive-thru allowed, high traffic location.
      2444 Justin Rd, Highland Village, TX
      View Details
    • Contact for pricing
      960 SF

      Retail Space on Justin Road

      Retail space with high visibility on Justin Road.
      1800-1862 Justin Rd, Highland Village, TX
      View Details
    • $17 SF/Yr
      1,110 SF

      Highland Village Office Space Available

      Office space for lease on Long Prairie Road.
      3204 Long Pr Rd, Highland Village, TX
      View Details
    • Contact for pricing
      2,837 SF

      Retail Space in Highland Village

      In-line retail space available for lease in Highland Village.
      3090 Fm 407, Highland Village, TX
      View Details
    • $18 SF/Yr
      57,306 SF

      Highland Village Office Space

      Prime Retail/Office Space Available Now
      1940 Fm 407, Highland Village, TX 75077
      View Details

    FAQs

    What type of property is this?
    Land - Land with high traffic, near community center and Tom Thumb.
    Where is this land located?
    The property is located at W Of Morriss Rd Highland Village, TX.
    What are key features of this property?
    This property features: - High visibility with over 30,000 vehicles per day on FM 407; - Location across from a 90,000 SF community center; - Anchored by Tom Thumb
    (214) 378-1212
    Request Owner's contact information
    W Of Morriss Rd Highland Village, TX
    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 Of Morriss Rd
    Highland Village, TX
    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 Of Morriss Rd Highland Village, TX
    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
    Natalia Singer
    (214) 378-1212
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.