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    Waterfront Homesites with Deep Water Access Title is generated by Realmo AI

    TBD Lot 1 & 2 Groves Court, Tool, TX 75143

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    Claim this Listing
    For Sale
    $750,000

    LAND - Tool, TX

    Lot size:
    1.00 Acre
    Added:
    Jan 19, 2026
    Days on Market:
    139
    Last Refresh:
    Jun 7 at 5:06 am

    Property Features for TBD Lot 1 & 2 Groves Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    200003983
    Lot size
    1.00 Acre

    Utilities

    Water front features
    Lake Front, Beach Access, Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Aaron Albright

    Listing agent Aaron Albright License #0834860

    Listing office Albright Land & Development Richardson, TX

    Listing date Jan 19, 2026

    MLS# 21158401 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

    • Cedar Creek Lake waterfront lots with Lake Front, Waterfront, and Beach Access features
    • The Groves community offers 34 lakefront lots on Cedar Creek Lake
    • 8 available properties within The Groves community
    • Lots provide deep water access and panoramic lake views
    • Setting includes mature trees with shoreline views

    Overview

    This offering presents waterfront homesites within The Groves community, with deep water access, panoramic shoreline views, and a setting framed by towering mature trees. Each available property is presented as a flexible build site for a fully customized retreat, with generous waterfrontage and an emphasis on privacy. The Groves is designed as an intimate, master-planned enclave of 34 lakefront lots, with these listings representing eight available properties.

    The Groves community is located on Cedar Creek Lake in the Tool area of Henderson County, Texas. The property backdrop includes established vacation homes and residences, creating a quieter environment that blends recreation with day-to-day comfort. The marketing materials also note that lakeside dining and nearby activity in Gun Barrel City or Seven Points are just minutes away.

    These homesites are well suited to buyers seeking to design a legacy-style lake home around direct water access and scenic, tree-lined views. With the ability to bring forward a customized build concept, the lots offer a practical foundation for full-time living or a vacation-focused lifestyle, particularly for those who value boating, lakeside downtime, and an environment curated for exclusivity.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Tool
    County
    Kaufman
    State
    Texas
    Longitude
    -96.14727318
    Latitude
    32.25736859

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    FAQs

    What type of property is this?
    Waterfront Land - Build a customized lakefront retreat on selected lots in a planned enclave with direct water access on Cedar Creek Lake.
    Where is this waterfront land located?
    The property is located at TBD Lot 1 & 2 Groves Court Tool, TX.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Cedar Creek Lake waterfront lots with Lake Front, Waterfront, and Beach Access features; The Groves community offers 34 lakefront lots on Cedar Creek Lake; 8 available properties within The Groves community
    (214) 714-5455
    We can help!
    Listing Contact
    Aaron Albright
    Real Estate License ID: 0834860
    Learn More
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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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