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    Light Commercial Development Land Title is generated by Realmo AI

    1215 Waters Edge Drive, Granbury, TX 76048

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    Picture of Commercial land at 1215 Waters Edge Drive, Granbury, TX
    For Sale
    $1,066,350

    LAND - Granbury, TX

    Lot size:
    2.45 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 6 at 3:06 pm

    Property Features for 1215 Waters Edge Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    R000099464
    Lot size
    2.45 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 2.448 LOT: 5 BLK: 1 SUBD: LOWE'S ADDIT
    Tax Annual Amount
    5212

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1800
    Floors in Building
    1
    Number of units
    1

    We can help!

    Listing Contact
    Morris Duree

    Listing agent Morris Duree License #0723813

    Listing office Granbury Realty, LLC Granbury, TX

    Listing date Jun 4, 2026

    MLS# 21291840

    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

    • 2.448‑acre platted commercial development tract zoned Light Commercial and ready for development
    • Corner location at the intersection of Waters Edge Drive and Hill Boulevard
    • Utilities available with public water and public sewer plus electricity available
    • Less than 300 yards from Lake Granbury
    • Nearby projects include the new SpringHill Suites by Marriott and Lakeview Landing master‑planned development

    Overview

    This platted commercial tract covers 2.448 acres and is zoned Light Commercial, offering a straightforward platform for development. Utilities are described as available at the site, including city water, sewer, and electricity, supporting a range of site plans. The property is positioned for projects that can align with local needs for retail frontage, office or medical space, professional services campuses, or other light commercial alternatives.

    The land sits at the intersection of Waters Edge Drive and Hill Boulevard in Granbury, TX, with convenient access for customers and visitors. The parcel is located less than 300 yards from Lake Granbury, and the surrounding area includes established residential communities such as Harbor Lakes, Waters Edge, Catalina Bay, The Point, Josiah Estates, and Southtown. Nearby amenities referenced in the remarks include Walmart Supercenter, Lowe's, a movie theater, restaurants, banking centers, pharmacies, and Harbor Lakes Golf & Country Club. Additional nearby development includes the SpringHill Suites by Marriott and the Lakeview Landing master-planned development, described as just a few blocks away.

    For buyers or developers seeking a light commercial site with utilities in place, this parcel’s combination of zoning, plat status, and practical access can help reduce early site-build friction. Its proximity to both established residential neighborhoods and major retail and hospitality options may support a variety of commercial and professional uses appropriate to Light Commercial zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Granbury
    County
    Hood
    State
    Texas
    Longitude
    -97.7755
    Latitude
    32.430649

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    FAQs

    What type of property is this?
    Commercial land - Platted 2.448-acre parcel zoned light commercial with utilities available at the site for flexible development plans.
    Where is this commercial land located?
    The property is located at 1215 Waters Edge Drive Granbury, TX.
    What is the asking price?
    The asking price for this property is $1,066,350.
    What are key features of this property?
    This property features: 2.448‑acre platted commercial development tract zoned Light Commercial and ready for development; Corner location at the intersection of Waters Edge Drive and Hill Boulevard; Utilities available with public water and public sewer plus electricity available
    (817) 219-2220
    We can help!
    Listing Contact
    Morris Duree
    Real Estate License ID: 0723813
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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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