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    Specialty Property on Acreage Title is generated by Realmo AI

    351 My Lane, Millsap, TX 76066

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    Claim this Listing
    For Sale
    $4,250,000

    COMMERCIAL - Millsap, TX

    Lot size:
    20.00 Acres
    Added:
    Apr 10, 2026
    Days on Market:
    55
    Last Refresh:
    Jun 3 at 9:06 am

    Property Features for 351 My Lane

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Driveway, RV, Covered
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    R000121151
    Lot size
    20.00 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 14.509 LOT: 1 SUBD: MARYS SUBDIVISION
    Tax Annual Amount
    45902

    Utilities

    Sewer type
    Aerobic Septic
    Heating system
    Central
    Cooling system
    Window Unit(s), Ceiling Fan(s)

    Building Details

    Year built
    2023
    Floors in Building
    1
    Number of units
    95
    Flooring type
    Vinyl, Concrete
    Building materials
    BoardAndBattenSiding, MetalSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Hazel Sellman

    Listing agent Hazel Sellman License #0688927

    Listing office Texas Realty One Fort Worth, TX

    Listing date Apr 10, 2026

    MLS# 21234533

    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

    • 2023 construction with metal roof
    • Central heating plus window unit and ceiling fan cooling
    • Vinyl and concrete flooring throughout
    • Board‑and‑batten siding with metal siding exterior
    • Parking includes driveway, RV parking, and covered parking
    • Accessible approach with ramp; served by aerobic septic

    Overview

    This for-sale specialty property sits on approximately 20 acres and is presented as a larger-format commercial land asset. The offering is identified as “Commercial - Millsap, TX,” and the property information provided supports a land-focused purchase rather than a fixed building configuration. Prospective buyers should review the site for suitability to their intended specialty use, with due diligence on access, improvements, and any site-specific considerations.

    Located at 351 My Lane in Millsap, Texas 76066, the property is in Parker County. The listing information does not provide details on frontage, utilities, or existing structures, so evaluation will likely center on the acreage itself and how the site can be developed or improved for an end user or investor.

    Given the specialty classification and the acreage scale, this could fit buyers looking for flexible positioning for a non-standard commercial concept, or for an operator seeking room for future site planning. Because the listing does not specify current improvements or tenant-ready features, the most appropriate fit is typically a buyer who plans for development or site work and values owning land that can accommodate a tailored approach. For a complete assessment, schedule a showing and confirm all site conditions directly.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quiet Country RV ... Campground & RV Park

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Gym & Fitness Center Auto Parts Store Department Store Storage Facility Grocery & Convenience Store Veterinary Clinic Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Millsap
    County
    Parker
    State
    Texas
    Longitude
    -97.993513
    Latitude
    32.793363

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    FAQs

    What type of property is this?
    Specialty property - Specialty property for sale on approximately 20 acres in Millsap, Texas.
    Where is this specialty property located?
    The property is located at 351 My Lane Millsap, TX.
    What is the asking price?
    The asking price for this property is $4,250,000.
    What are key features of this property?
    This property features: 2023 construction with metal roof; Central heating plus window unit and ceiling fan cooling; Vinyl and concrete flooring throughout
    (817) 236-1515
    We can help!
    Listing Contact
    Hazel Sellman
    Real Estate License ID: 0688927
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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.

    More about this property
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