Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Hobbyist Workshop with Additional Lot Title is generated by Realmo AI

    501 Pearl Street, Royse City, TX 75189

    View on Map
    Claim this Listing
    For Sale
    $199,999

    Workshop with electricity, bay doors, and additional lot.

    Type:Commercial
    Property size:
    1,200 SF
    Price / SF:
    $166/SF
    Added:
    Apr 22, 2026
    Days on Market:
    43
    Last Refresh:
    Apr 22 at 5:46 pm

    Property Features for 501 Pearl Street

    General Information

    Standard status
    Active
    Size
    1,200 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Delanee Clark

    Listing agent Delanee Clark

    Listing office RE/MAX Landmark

    Listing date Apr 22, 2026

    Source Signaturere

    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 RE/MAX Landmark

    HighLights

    • Spacious workshop equipped with electricity and large bay doors.
    • Additional adjacent lot included, offering development potential.
    • Suitable for various hobbies, including woodworking and car restoration.
    • Flexibility to build a custom home or expand the workshop.
    • Zoned as single family residential.
    • Built in 1985.

    Overview

    This property presents a hobbyist's opportunity, featuring a 1200 square foot workshop equipped with electricity and large bay doors. The workshop is suitable for various crafts, including woodworking and car restoration. An adjacent lot offers possibilities for building a custom home, expanding the workshop, or creating additional parking. The property is currently zoned as single family residential. Buyers are responsible for due diligence and rezoning if intending to use the property for business purposes.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Royse City
    County
    Rockwall
    State
    Texas
    Longitude
    -96.3618
    Latitude
    32.9603

    Nearby Similar for Sale

    • $1,600,000

      Ag-Exempt Ranch with Pond & Creek

      116-acre ranch with rolling hills, ag-exempt land, and a year-round creek—supported by barns and city utilities.
      1396 Cemetery Road, Royse City, TX 75189
      View Details
    • Contact for pricing
      9,012 SF

      Royse City Shopping Center

      9,012 SF shopping center in Royse City, Texas.
      921-931 ERBY CAMPBELL BOULEVARD, Royse City, TX 75189
      View Details
    • $7,900,000

      Planned-Development Mixed-Use Land

      PD-approved land for a mixed community spanning commercial, residential, and senior assisted living uses.
      W I-30 W, Royse City, TX 75189
      View Details
    • $1,950,000
      12,020 SF

      Industrial Warehouses on Fenced Acres

      Two industrial warehouse buildings on 1.49 fenced acres.
      5882 State Highway 276, Royse City, TX 75189
      View Details
    • $1,400,000
      7,500 SF

      New Self-Storage Facility For Sale

      Newly constructed, income-producing self-storage facility in a rapidly expanding area.
      621 Poetry Road, Royse City, TX 75228
      View Details
    • Contact for pricing
      38,285 SF

      Royse City Industrial Property

      Multi-building industrial property on 1.84 acres in Royse City.
      1121 Industrial Dr, Royse City, TX 75189
      View Details
    • $3,175,000
      19,842 SF

      Modern Flex Warehouse Facility

      19,842 SF flex warehouse with office space for sale.
      3925 Ruger Dr, Royse City, TX 75189
      View Details
    • $1,300,000
      2,280 SF

      22.85 Acre Ranch Near Lake

      22.85-acre ranch near Lake Ray Hubbard in Rockwall County.
      567 Poetry Road, Royse City, TX 75189
      View Details
    • $1,600,000
      38,285 SF

      Industrial Investment Opportunity in Royse

      38,285 SF industrial property in Royse City, Texas.
      1121 Industrial Drive, Royse City, TX 75189
      View Details

    FAQs

    What type of property is this?
    Specialty property - Workshop with electricity, bay doors, and additional lot.
    Where is this specialty property located?
    The property is located at 501 Pearl Street Royse City, TX.
    What is the asking price?
    The asking price for this property is $199,999.
    What are key features of this property?
    This property features: Spacious workshop equipped with electricity and large bay doors.; Additional adjacent lot included, offering development potential.; Suitable for various hobbies, including woodworking and car restoration.
    We can help!
    Listing Contact
    Delanee Clark
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    501 Pearl Street, Royse City, TX 75189
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!