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

    230 S Walnut Grove Rd Midlothian, TX 76065

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $885,000

    Strategically located land parcel with future commercial zoning potential.

    Property size:
    37,462 SF
    Lot size:
    0.86 Acres

    Property Features for 230 S Walnut Grove Rd

    General Information

    Standard status
    Active
    Size
    37,462 SF
    Lot size
    0.86 Acres

    We can help!

    Listing Contact
    Jamie Wickliffe
    Source: Exitrealty

    Listing Agency: CENTURY 21 Judge Fite Company Listing Agent: Jamie Wickliffe

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

    Learn more

    Overview

    Prime Land in Midlothian, TX

    This property is located on S Walnut Grove in Midlothian, Texas, directly across from Heritage High School. The property is currently zoned residential but is positioned within the city’s future commercial zoning plan. Neighboring parcels are already slated for commercial development. The location offers potential for retail, office, or mixed-use projects due to high visibility and steady traffic from the surrounding schools and residential communities. The property provides long-term value and flexibility as the area continues to expand. The property size is 37462 square feet.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Hair Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Auto Parts Store Kitchen & Bath Showroom Department Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Ellis
    State
    Texas
    Longitude
    -96.9416268
    Latitude
    32.4847863

    Nearby Similar for Sale

    • $850,000
      5,299 SF

      Versatile Industrial Building Near Highway

      5,299 SF industrial building with offices and bay doors.
      1262 Eastgate Rd, Midlothian, TX 76065
      View Details
    • $699,000
      3,306 SF

      New Construction Luxury Duplex

      New construction duplex in Midlothian, TX with excellent property management.
      7064-7066 Guilford Ct, Midlothian, TX 76065
      View Details
    • $899,900
      0.56 Acres

      Midlothian Retail with Dual Drive-Through

      Single tenant restaurant with dual drive-through in thriving retail district.
      1140 George Hopper Rd, Midlothian, TX 76065
      View Details
    • $650,000
      4,000 SF

      Income-Producing Land Near City

      Four-acre property with income potential near city conveniences.
      3291 Plainview Rd, Midlothian, TX 76065
      View Details
    • $799,999
      3,842 SF

      Midlothian Quadruplex with Shop

      Well-maintained fourplex on 1.4 acres with additional shop.
      3841 Ledgestone Ln, Midlothian, TX 76065
      View Details
    • New
      $699,900
      3,306 SF

      Luxury Duplex in Booming DFW

      New construction duplex with spacious units and desirable location.
      7036-7038 Guilford Ct, Midlothian, TX 76065
      View Details
    • New
      $699,000
      3,306 SF

      New Duplex in Growing Area

      New construction duplex with strong income potential in Midlothian, TX.
      4421-4423 Clovis Ct, Midlothian, TX 76065
      View Details
    • $699,000
      1.01 Acres

      New Construction Luxury Duplex

      New construction duplex in Midlothian, TX with low property taxes.
      7050-7052 Guilford Ct, Midlothian, TX 76065
      View Details
    • $699,000
      1.01 Acres

      Luxury Duplex in Growing Area

      New construction duplex with strong rental potential in Midlothian, TX.
      7024-7026 Guilford Ct, Midlothian, TX 76065
      View Details
    • $699,000
      1.01 Acres

      New Duplex in Midlothian, TX

      New construction duplex on an acre lot, fully leased.
      4420-4422 Clovis Ct, Midlothian, TX 76065
      View Details
    • $540,000
      0.18 Acres

      Turnkey Duplex in Skyview Neighborhood

      Class A duplex in Midlothian, near Dallas and Fort Worth.
      1006-1008 W Sierra Vista Ct, Midlothian, TX 76065
      View Details
    • $1,499,999
      1,964 SF

      Midlothian 20-Acre Farm/Ranch Tract

      20 acres in Midlothian ISD with home, workshop, and pond.
      3231 Plainview Rd, Midlothian, TX 76065
      View Details

    FAQs

    What type of property is this?
    Commercial land - Strategically located land parcel with future commercial zoning potential.
    Where is this commercial land located?
    The property is located at 230 S Walnut Grove Rd Midlothian, TX.
    What is the asking price?
    The asking price for this property is $885,000.
    What are key features of this property?
    This property features: - Strategically located on S Walnut Grove in Midlothian, Texas.; - Located directly across from Heritage High School, ensuring high visibility and traffic.; - Neighboring parcels are already slated for commercial development, indicating imminent growth.
    (817) 960-9611
    Request Owner's contact information
    230 S Walnut Grove Rd Midlothian, TX 76065
    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.
    230 S Walnut Grove Rd
    Midlothian, TX 76065
    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
    230 S Walnut Grove Rd Midlothian, TX 76065
    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
    Jamie Wickliffe
    Real Estate License ID: 0368339
    (817) 960-9611 (972) 723-8231 (214) 676-2896
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!