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    Retail Development Land with City Water Title is generated by Realmo AI

    2304 Ivie Lane, Weatherford, TX 76087

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    Picture of Commercial land at 2304 Ivie Lane, Weatherford, TX
    For Sale
    $1,499,999

    SINGLE_FAMILY - Weatherford, TX

    Type:Retail
    Lot size:
    1.46 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    97
    Last Refresh:
    Jun 3 at 10:06 am

    Property Features for 2304 Ivie Lane

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking features
    Off Street
    Standard status
    Active
    APN
    R000043900
    Lot size
    1.46 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 1.457 ABST: 665 SURVEY: HAWKINS ADDISO
    Tax Annual Amount
    4073

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    1985
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Karen Mitchell

    Listing agent Karen Mitchell License #0661110

    Listing office Parker Douglas Realty, Inc. Weatherford, TX

    Listing date Feb 26, 2026

    MLS# 20857285

    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

    • Brick exterior with tile flooring
    • Built in 1985
    • Central heating and central air conditioning
    • Off‑street parking
    • Utilities: currently served by well water and septic tank; city water lines are in place on Center Point
    • Sewer update: city sewer is in planning phase and scheduled to connect at the end of Ivie Ln; property adjoins two additional Center Point‑facing lots for sale

    Overview

    This offering is a commercial land parcel currently improved as a residence. The property is approximately 1.457 acres and is presented for new development. City water lines are already in place along Center Point, and city sewer is in the planning phase with connection planned at the end of Ivie Ln. Supporting documentation regarding water and sewer is provided with the MLS transaction.

    The site is located just minutes from the new Costco in Weatherford and one block north of the new Sprouts development. The property also has heavy traffic exposure on Center Point. In addition, the land adjoins two other Center Point-facing lots that are available for sale, offering potential for expanded retail site planning.

    Given its development potential and prominent retail-adjacent momentum from nearby retailers, this parcel is well suited for operators or investors planning a new retail concept. The seller requests that prospective buyers do not enter the residence without an appointment, and coordination will be required to view the property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Weatherford
    County
    Parker
    State
    Texas
    Longitude
    -97.728691
    Latitude
    32.752401

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    FAQs

    What type of property is this?
    Commercial land - Ideal for new retail development with city water lines in place and sewer connection planned as area demand grows.
    Where is this commercial land located?
    The property is located at 2304 Ivie Lane Weatherford, TX.
    What is the asking price?
    The asking price for this property is $1,499,999.
    What are key features of this property?
    This property features: Brick exterior with tile flooring; Built in 1985; Central heating and central air conditioning
    (817) 304-4714
    We can help!
    Listing Contact
    Karen Mitchell
    Real Estate License ID: 0661110
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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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