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    Corner Lake Home Lot with Oaks Title is generated by Realmo AI

    29 Allen A Dale Drive, Gordonville, TX 76245

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    Claim this Listing
    Pending
    $70,000

    LAND - Gordonville, TX

    Lot size:
    0.35 Acres
    Added:
    May 14, 2026
    Days on Market:
    21
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 29 Allen A Dale Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    102263
    Lot size
    0.35 Acres

    Taxes and HOA fees

    Tax Annual Amount
    415

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Jacob Roby

    Listing agent Jacob Roby License #0834478

    Listing office HBL, Realtors Pottsboro, TX

    Listing date May 14, 2026

    MLS# 21050078 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

    • 0.349‑acre corner property on three combined lots at 29 Allen A Dale Drive in the Sherwood Shores community
    • Septic tank on site and utilities available for future build plans
    • Within walking distance to the shoreline and about 5 minutes from Lake Texoma
    • Shaded by towering oak trees with space for outdoor activities
    • Suitable for a lake home, barndominium, or mobile home (buyer to confirm requirements)

    Overview

    This corner residential lot is offered as three combined parcels, totaling 0.3492 acres, providing extra flexibility for your plans. The property is improved with septic on-site and utilities are available, supporting a straightforward path to development. Mature oak trees provide shade and a more established feel, while the open lot area leaves room for outdoor living.

    Located in the Sherwood Shores community in Gordonville, Texas, the site offers convenient access to Lake Texoma. The public remarks note the property is just 5 minutes from the lake and within walking distance to the shoreline, making it well suited for frequent lakeside recreation. The corner configuration and combined-lot setup can also be advantageous for placement and layout.

    The lot is a practical option for buyers looking to build a lake home, barndominium, or mobile home, depending on their intended approach. Its blend of utilities available, septic already present, and proximity to the shoreline makes it attractive for both primary residence and weekend retreat use, as well as for investors seeking a property positioned around consistent recreational demand.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Auto Repair Shop Hotel & Motel Department Store Barber Shop Travel Agency Bed & Breakfast Florist

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

    Location Insight

    • Map
    • Local Demand
    City
    Gordonville
    County
    Grayson
    State
    Texas
    Longitude
    -96.8094929
    Latitude
    33.8517094

    Nearby Similar for Sale

    • $349,000

      Flat Buildable Commercial Land Tract

      Nearly 2-acre tract with excellent visibility for commercial development near major road intersections.
      27960 US Highway 377, Gordonville, TX 76245
      View Details
    • $3,850,000

      Texas Ranch with Country Homes

      Generous ranch acreage near Lake Texoma with two homes, stocked tanks, and outbuildings suited for a working lifestyle.
      850 Gordonville Rd, Gordonville, TX 76245
      View Details
    • $180,000

      Secluded Land Near Lake Texoma

      4-acre treed property near Lake Texoma and Megastar Casino.
      1648 Gordonville Road, Gordonville, TX 76245
      View Details
    • $299,995

      Unzoned Development Land Tract

      Unzoned acreage near Riddle Road, ready for flexible planning with water and electric service available.
      US HWY 377 lot: 2 Tba, Gordonville, TX 76264
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Three combined lots near Lake Texoma offer utility access and septic on-site for a flexible lake lifestyle build.
    Where is this residential land & home lot located?
    The property is located at 29 Allen A Dale Drive Gordonville, TX.
    What is the asking price?
    The asking price for this property is $70,000.
    What are key features of this property?
    This property features: 0.349‑acre corner property on three combined lots at 29 Allen A Dale Drive in the Sherwood Shores community; Septic tank on site and utilities available for future build plans; Within walking distance to the shoreline and about 5 minutes from Lake Texoma
    (903) 624-0688
    We can help!
    Listing Contact
    Jacob Roby
    Real Estate License ID: 0834478
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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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