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    Waterfront Development Land with Shoreline Title is generated by Realmo AI

    21277 Joe Paul Lane, Chandler, TX 75758

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    For Sale
    $2,300,000

    Ag-exempt waterfront acreage on Lake Palestine with shoreline access, residence, pier, and private trails for mixed-use development.

    Type:Lots & Acreage / Improved Land
    Property size:
    1,134,607 SF
    Lot size:
    26.00 Acres
    Price / SF:
    $2/SF
    Added:
    Jun 2, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 5:02 am

    Property Features for 21277 Joe Paul Lane

    General Information

    Standard status
    Active
    Size
    1,134,607 SF
    Lot size
    26.00 Acres
    Property subtype
    Lots & Acreage / Improved Land

    We can help!

    Listing Contact
    Chad Smith

    Listing agent Chad Smith License #0523001

    Listing office Realty Of America, LLC

    Listing date Jun 2, 2026

    Source Compass

    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 Realty Of America, LLC

    HighLights

    • Approximately 26 ag‑exempt acres on Lake Palestine with about 600 ft of shoreline and lake‑front access
    • Includes a modern lakeside residence plus a waterfront gazebo and pier
    • Private yard, RV hookup, and RV/boat parking with outbuilding(s) on site
    • Stock pond and a private trail system through mature East Texas timber
    • Utilities/services include public water and electric service
    • Waterfront features include leasehold and a retaining wall

    Overview

    This waterfront land offering on Lake Palestine includes approximately 26 ag-exempt acres with roughly 600 feet of shoreline. The property features a modern lakeside residence, a waterfront gazebo, and a pier, along with a stock pond. Utilities are available with public water service and electric service on site. A private trail system winds through mature East Texas timber, providing internal access and a natural setting across the tract.

    The property is located at 21277 Joe Paul Lane in Chandler, Texas (75758). With direct shoreline frontage and multiple on-site amenities, the site is set up for owners who want to build around the existing improvements and preserve the character of the surrounding timber.

    For buyers and developers, this configuration supports a range of destination-style uses built on waterfront access, existing residence amenities, and planned outdoor experiences through the trail network. The presence of the stock pond, gazebo, and pier can support guest-oriented programming or private recreation, while public water and electric service help streamline development planning. It may also appeal to buyers seeking a multi-use compound where the land itself is the central asset, complemented by the existing lakeside home and waterfront structures.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Law Firm Auto Repair Shop Hair Salon Auto Parts Store Kitchen & Bath Showroom Storage Facility Plumbing Service (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chandler
    County
    Henderson
    State
    Texas
    Longitude
    -95.498845
    Latitude
    32.24584

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    FAQs

    What type of property is this?
    Waterfront Land - Ag-exempt waterfront acreage on Lake Palestine with shoreline access, residence, pier, and private trails for mixed-use development.
    Where is this waterfront land located?
    The property is located at 21277 Joe Paul Lane Chandler, TX.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Approximately 26 ag‑exempt acres on Lake Palestine with about 600 ft of shoreline and lake‑front access; Includes a modern lakeside residence plus a waterfront gazebo and pier; Private yard, RV hookup, and RV/boat parking with outbuilding(s) on site
    (817) 264-6621
    We can help!
    Listing Contact
    Chad Smith
    Real Estate License ID: 0523001
    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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