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    Retail Development Site with Visibility Title is generated by Realmo AI

    500 Ford Street, Garland, TX 75040

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    Claim this Listing
    For Sale
    $500,000

    SINGLE_FAMILY - Garland, TX

    Type:Retail
    Lot size:
    0.24 Acres
    Added:
    Apr 2, 2026
    Days on Market:
    63
    Last Refresh:
    Jun 3 at 2:06 am

    Property Features for 500 Ford Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking features
    Alley
    Standard status
    Active
    APN
    26103500210010000
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Description
    COOPERS 3RD INST BLK U LOT 1 40X115 PR-08-010
    Tax Annual Amount
    3936

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1950
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Brick, Block
    Roof type
    Metal

    We can help!

    Listing Contact
    Patty Turner

    Listing agent Patty Turner License #0426347

    Listing office Keller Williams Rockwall Rockwall, TX

    Listing date Apr 2, 2026

    MLS# 20976880

    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

    • Listing includes BOTH 500 and 504 Ford St—two commercial lots being sold together
    • Almost a quarter‑acre land area for commercial development or redevelopment
    • Both lots are zoned Commercial Retail District and located on Ave D (HWY 66)
    • 1950s building constructed with brick and block; metal roof; concrete flooring
    • Utilities include public water and public sewer
    • Heating is electric; cooling via window unit(s); parking via alley access

    Overview

    This offering presents a rare opportunity to develop or redevelop two adjacent lots with an existing 1950s building. The property includes both parcels at 500 and 504 Ford Street, giving an owner or developer flexibility to renovate the current structure or plan a new retail concept aligned with the site’s commercial intent.

    Both lots are zoned Commercial Retail District and are located on Ave D (HWY 66). The frontage position is described as delivering great visibility and high traffic counts, supporting retail exposure and customer access. Additional context includes a new fire station and development immediately across the street, which is expected to enhance the surrounding momentum once completed.

    For buyers, this site can fit a range of retail development strategies where zoning and visibility matter. The combination of two lots and an existing building can appeal to operators seeking redevelopment upside while retaining the option to work from the current structure. It also offers developers a consolidated footprint to move from planning to execution in a corridor-focused location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Marcey's Refrigeration & Appliance ... Home Appliance Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Garland
    County
    Dallas
    State
    Texas
    Longitude
    -96.6263042
    Latitude
    32.9086241

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    • $3,200,000

      Mixed-Use Development Land Parcel

      Served by completed driveways, utilities, and detention, this PD CR site is ready for future build-to-suit plans.
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    FAQs

    What type of property is this?
    Commercial land - Two commercial retail lots with a 1950s building, offering strong visibility and redevelopment potential on a high-traffic corridor.
    Where is this commercial land located?
    The property is located at 500 Ford Street Garland, TX.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Listing includes BOTH 500 and 504 Ford St—two commercial lots being sold together; Almost a quarter‑acre land area for commercial development or redevelopment; Both lots are zoned Commercial Retail District and located on Ave D (HWY 66)
    (972) 772-7000
    We can help!
    Listing Contact
    Patty Turner
    Real Estate License ID: 0426347
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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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