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    Updated Colleyville Property with Potential Title is generated by Realmo AI

    5016 Thompson Terrace, Colleyville, TX 76034

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    Updated property with R20 zoning in thriving business community.

    Type:Retail
    Property size:
    1,119 SF
    Price / SF:
    $445/SF
    Added:
    Feb 20, 2026
    Days on Market:
    81
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 5016 Thompson Terrace

    General Information

    Standard status
    Active
    Size
    1,119 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1948

    We can help!

    Listing Contact
    Tina Leigh

    Listing agent Tina Leigh License #9013899

    Listing office TINA LEIGH REALT

    Listing date Feb 20, 2026

    Source Crexi

    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 TINA LEIGH REALT

    HighLights

    • Prime location in a thriving business and high‑end home community.
    • Large lot with long driveway, concrete parking pad, and maintained grounds.
    • R20 zoning with potential for rezoning (buyer to verify).
    • Enjoy the open concept living area, dining, and kitchen with breakfast bar.
    • Two bedrooms with ensuite bathrooms.
    • Relax on the backyard deck facing the creek.

    Overview

    This updated property, currently zoned R20 for residential use, offers potential in a thriving business and high-end home community. Surrounding properties are zoned CC1, CN, and R20. The buyer will be responsible for rezoning after closing and funding, and should verify zoning with the City of Colleyville Planning Commission, including any rezoning allowance for planned use. Exterior features include a wood frame and siding exterior, a covered front porch, a large lot with a long driveway and concrete parking pad, maintained grounds with trees, and a backyard deck that faces the creek. The interior features an open concept with a combination living area and dining area open to the kitchen. A long breakfast bar separates the kitchen and dining area. The kitchen includes a dishwasher, sink, microwave, and electric range. The property also includes 2 bedrooms with ensuite bathrooms, and a laundry room with room for a full-size washer and dryer. The property size is 1119 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Similar Places Nearby

    • Lilium Floral Designs LLC — 4800 Colleyville Blvd, Colleyville, TX 76034
    • Market Street Florist — 5605 Colleyville Blvd, Colleyville, TX 76034

    Location Insight

    • Map
    • Local Demand
    City
    Colleyville
    County
    Tarrant
    State
    Texas
    Longitude
    -97.1531235
    Latitude
    32.8827769

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    FAQs

    What type of property is this?
    Storefront property - Updated property with R20 zoning in thriving business community.
    Where is this storefront property located?
    The property is located at 5016 Thompson Terrace Colleyville, TX.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Prime location in a thriving business and high‑end home community.; Large lot with long driveway, concrete parking pad, and maintained grounds.; R20 zoning with potential for rezoning (buyer to verify).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tina Leigh
    Real Estate License ID: 9013899
    Learn More
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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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