Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Waterfront Homesite with Pond Frontage Title is generated by Realmo AI

    5395 Lago Vista Drive, Athens, TX 75752

    View on Map
    Claim this Listing
    For Sale
    $239,000

    LAND - Athens, TX

    Lot size:
    4.07 Acres
    Added:
    Mar 19, 2026
    Days on Market:
    81
    Last Refresh:
    Jun 7 at 4:06 am

    Property Features for 5395 Lago Vista Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    45060000170000
    Lot size
    4.07 Acres

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Amy Farris

    Listing agent Amy Farris License #0681839

    Listing office Allie Beth Allman & Assoc. Dallas, TX

    Listing date Mar 19, 2026

    MLS# 21212626 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

    • 4+ acre homesite in Water's Edge Ranch, prepped and ready for your build
    • Perched on a bluff at Lago Vista with view‑oriented positioning within the ranch
    • 197+ feet of water frontage on a stocked, spring‑fed pond
    • Brand‑new concrete retaining wall already in place to support easier building start
    • Public water available

    Overview

    This 4.07-acre waterfront homesite is completely prepped and ready for your build, offering a bluff-top setting with scenic views. The property includes 197+ feet of water frontage on a stocked, spring-fed pond, giving you a natural backdrop for everyday enjoyment and fishing. A brand-new concrete retaining wall is already in place, helping simplify early site work and providing added support for the improvement area.

    Located at 5395 Lago Vista Drive in Athens, TX, the lot sits within the Water’s Edge Ranch community. The combination of the elevated bluff position and direct pond frontage makes the parcel feel especially private and purpose-built for a custom residence.

    For buyers looking to build on a true waterfront parcel, this property checks the key boxes of condition, water access, and site readiness. It’s well-suited for an owner-builder or developer seeking a scenic homesite where the water becomes a central feature of the design and lifestyle, without the need to start from scratch on basic site preparation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    Henderson
    State
    Texas
    Longitude
    -95.866556
    Latitude
    32.233654

    Nearby Similar for Sale

    • $1,695,000
      19,000 SF

      Versatile Commercial Property Near Highway

      6-acre commercial property with industrial building and office space.
      1391 Flat Creek, Athens, TX 75751
      View Details
    • $995,000
      6,116 SF

      Athens Commercial Property with Acreage

      Multipurpose commercial property with office, warehouse, and storage space.
      6275 FM 59, Athens, TX 75751
      View Details
    • $799,900

      Turn-Key Bowling Alley & Entertainment Center

      Fully operational 22-lane facility with bar, kitchen, and pro shop for diversified on-site income.
      900 W Corsicana Street, Athens, TX 75751
      View Details
    • $625,000
      6,301 SF

      Downtown Athens Commercial Office Buildings

      Two commercial buildings in downtown Athens with income potential.
      110-112 E Corsicana St, Athens, TX 75751
      View Details
    • $299,000
      3,880 SF

      Multi-Building Commercial Property in Athens

      Versatile commercial property with shop and office spaces for sale.
      927 N Palestine St, Athens, TX 75751
      View Details
    • $549,000

      Prime Commercial Building with Showroom

      Versatile downtown building combines showroom/office, warehouse-shop, and accessible upstairs storage with a lift.
      209 S Palestine Street, Athens, TX 75751
      View Details
    • $1,300,000

      Retail Building with Drive-Thru

      High-visibility retail building with drive-thru parking and flexible space for restaurants, service, or retail concepts.
      220 S Palestine Street, Athens, TX 75751
      View Details
    • $650,000
      16,971 SF

      Versatile Retail Building in Athens

      16,971 SF building on 1.31 acres, zoned Retail.
      201-209 S Prairieville St, Athens, TX 75751
      View Details
    • $625,000

      Renovated Office Buildings with Parking

      Fully renovated office space generating rental income, with dedicated parking and flexible options to lease or occupy.
      110 E Corsicana Street, Athens, TX 75751
      View Details
    • $275,000

      Auto Shop with Garage Storage Bays

      Operating tire shop with reception, private rooms, and garage-bay storage, offering flexible zoning for multiple business types.
      807 W Corsicana Street, Athens, TX 75751
      View Details
    • $1,220,000

      Corner Commercial Development Land

      Prime corner lot with major road frontage and utilities, positioned for commercial growth in Athens.
      1114 Fm 1616, Athens, TX 75751
      View Details
    • $259,000

      Flexible Commercial Building for Conversion

      A 2,710 SF building with retail zoning, offering adaptable space for office, retail, salon, or warehouse uses.
      406 Lindsey Lane, Athens, TX 75751
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Build-ready bluff lot with spring-fed, stocked pond frontage and a brand-new concrete retaining wall.
    Where is this waterfront land located?
    The property is located at 5395 Lago Vista Drive Athens, TX.
    What is the asking price?
    The asking price for this property is $239,000.
    What are key features of this property?
    This property features: 4+ acre homesite in Water's Edge Ranch, prepped and ready for your build; Perched on a bluff at Lago Vista with view‑oriented positioning within the ranch; 197+ feet of water frontage on a stocked, spring‑fed pond
    (214) 528-2500
    We can help!
    Listing Contact
    Amy Farris
    Real Estate License ID: 0681839
    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
    5395 Lago Vista Drive, Athens, TX 75752
    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!