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

    Ridgeview Drive & N Watters Road Allen, TX

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

    Located at Ridgeview Dr. & N Watters Rd., Allen, TX

    Type:LAND
    Lot size:
    2.00 Acres
    Added:
    Jun 13, 2023
    Days on Market:
    1047
    Last Refresh:
    Apr 5 at 11:25 pm

    Property Features for Ridgeview Drive & N Watters Road

    General Information

    Standard status
    Active
    Lot size
    2.00 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Ray Eckenrode
    Ray Eckenrode

    Listing agent Ray Eckenrode License #579746

    Listing office Appian Commercial Realty

    Listing date Jun 13, 2023

    Source Moodyscre

    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 Appian Commercial Realty

    Overview

    Commercial Land Ready for Development

    This commercial land is located on the southeast corner of Watters Road and Ridgeview Drive. It is zoned PD-92, which allows for corridor commercial and entertainment uses. These include retail, restaurant, hotel, dentist, day care, and optometrist. City water and sewer are available onsite. The land is ready for development, and a conceptual site plan has been approved. The seller is motivated.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Allen
    County
    Collin
    State
    Texas
    Longitude
    -96.6854
    Latitude
    33.0994

    Nearby Similar for Sale

    • $250,000
      5,600 SF

      Established Hookah Lounge Business Opportunity

      Profitable hookah lounge business for sale in Allen, Texas.
      1201 Main Street, Allen, TX 75002
      View Details
    • $975,000

      Downtown Allen Building with Garage

      Rare opportunity to own a piece of local Allen history.
      112 W Main Street, Allen, TX 75013
      View Details
    • $1,300,000

      Turnkey Childcare Building in Allen, TX

      Updated childcare building with FF&E, renovated in 2023.
      548 E Bethany Drive, Allen, TX 75002
      View Details
    • $499,000

      Allen Warehouse Car Condo

      City permitted car condo near Highway 75 and Stacy.
      2137 Chelsea Road, Allen, TX 75013
      View Details
    • $990,000

      Development-Ready Townhome Lots in Allen

      Six contiguous townhome lots in Allen, TX, ready for development.
      514 Toorpu Circle, Allen, TX 75002
      View Details
    • $2,895,000

      Lucas TX Retail Development Site

      Proposed retail and commercial development site in Lucas, Texas.
      0000 McGarity Lane, Lucas, TX 75002
      View Details
    • $730,000

      Two Acre Homesite in Lucas, TX

      Two-acre property ideal for building a dream home.
      1750 New Castle Court, Lucas, TX 75002
      View Details
    • $549,999

      Luxury Garage Condo with Upgrades

      Upgraded 1,000 SF garage condo with loft, gym, and sauna.
      2137 Chelsea Road, Allen, TX 75013
      View Details
    • $750,000

      3 Acre Lot in Lucas

      Unimproved 3-acre land in Lucas, near Lake Lavon.
      2400 Orr Road, Lucas, TX 75002
      View Details
    • $345,000

      Allen, TX Land Opportunity

      Prime lot in Allen's Central Business District.
      379 N Cedar Road, Allen, TX 75002
      View Details
    • $575,000

      Land in Lovejoy ISD

      2-acre lot, heavily treed, creek, build your dream home.
      125 N Lost Valley Drive, Lucas, TX 75002
      View Details
    • $700,000

      Allen, TX Retail Opportunity

      Commercial property on half acre lot, currently a salon.
      403 W Main Street, Allen, TX 75013
      View Details

    FAQs

    What type of property is this?
    Commercial land - Located at Ridgeview Dr. & N Watters Rd., Allen, TX
    Where is this commercial land located?
    The property is located at Ridgeview Drive & N Watters Road Allen, TX.
    What are key features of this property?
    This property features: Zoned PD‑92 allowing corridor commercial/entertainment uses such as retail, restaurant, hotel, etc.; Located on the southeast corner of Watters Rd. and Ridgeview Dr.; City water and sewer available onsite
    (972) 562-9988 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ray Eckenrode
    Ray Eckenrode
    Real Estate License ID: 579746
    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!