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    Waterfront Land with Platted Shoreline Title is generated by Realmo AI

    135 Island Park, Gun Barrel City, TX 75156

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    For Sale
    $950,000

    LAND - Gun Barrel City, TX

    Lot size:
    0.47 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 7:06 am

    Property Features for 135 Island Park

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    26750000059053
    Lot size
    0.47 Acres

    Taxes and HOA fees

    Tax Description
    LTS 58 & 59 EASTWOOD ISLANDS AB 488 T MITCHELL SUR
    Tax Annual Amount
    6362

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air
    Water front features
    Waterfront, Lake Front
    Water front
    1

    Building Details

    Year built
    1968
    Additional Structures
    Storage

    We can help!

    Listing Contact
    B.G. Pierce

    Listing agent B.G. Pierce License #0506691

    Listing office KW-Cedar Creek Lake Properties Rockwall, TX

    Listing date Jun 4, 2026

    MLS# 21291023 Listing URL

    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

    • Two waterfront lots with approximately 101' of platted shoreline on Cedar Creek Lake
    • Lakefront setting with protected bay location and sweeping western‑facing views across the main body of the lake
    • Existing improvements include an old house and a detached storage shed, plus fenced areas
    • Long paved driveway through mature trees leading to the waterfront yard
    • Electric heating and central air cooling; year built listed as 1968
    • Option to tear down and build your own lakefront retreat or rejuvenate the existing home and add guest quarters

    Overview

    This offering includes two waterfront lots with approximately 101 feet of platted shoreline at Cedar Creek Lake. The property is set up for a range of plans, whether you want to rebuild an existing lake home, create a larger family compound, or develop separate uses across the two lots. Existing improvements include an old house, a detached storage shed, and fenced areas, along with a waterfront yard that can be shaped to fit your vision.

    The setting is designed from street to water, with a long paved driveway that runs through mature trees and leads to the waterfront. The property is described as a protected bay location with sweeping western-facing views across the main body of the lake, making it well suited for outdoor living and sunset-focused enjoyment.

    For buyers and operators, the combination of shoreline frontage, a depth-friendly lot layout, and existing site improvements creates a practical starting point for custom builds and outdoor amenities. Options discussed with the property include pool and additional structures, as well as outdoor entertaining space built around the waterfront yard. If you prefer a simpler development approach, you can also build on one lot and sell the other, depending on your project goals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Gun Barrel City
    County
    Henderson
    State
    Texas
    Longitude
    -96.160616
    Latitude
    32.324135

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    FAQs

    What type of property is this?
    Waterfront Land - Two lakefront lots with platted shoreline and a paved, tree-lined drive to the waterfront for flexible redevelopment.
    Where is this waterfront land located?
    The property is located at 135 Island Park Gun Barrel City, TX.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Two waterfront lots with approximately 101' of platted shoreline on Cedar Creek Lake; Lakefront setting with protected bay location and sweeping western‑facing views across the main body of the lake; Existing improvements include an old house and a detached storage shed, plus fenced areas
    (972) 772-7000
    We can help!
    Listing Contact
    B.G. Pierce
    Real Estate License ID: 0506691
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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.

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