Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Corner Lot in Established Residential Community Title is generated by Realmo AI

    585 Imagine Drive, Lindale, TX 75771

    View on Map
    Claim this Listing
    For Sale
    $76,000

    LAND - Lindale, TX

    Lot size:
    0.33 Acres
    Added:
    Apr 7, 2026
    Days on Market:
    60
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 585 Imagine Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    161400000004122000
    Lot size
    0.33 Acres

    Taxes and HOA fees

    Tax Description
    PENNY LANE ESTATES U-4 LOT 122
    Tax Annual Amount
    1401

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Norma Medina

    Listing agent Norma Medina License #0742490

    Listing office Compass RE Texas, LLC Dallas, TX

    Listing date Apr 7, 2026

    MLS# 21231014 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

    • Corner lot in Penny Lane Estates, located on a quiet cul‑de‑sac
    • Lindale ISD
    • Public water and public sewer available
    • Underground utilities include gas and high‑speed internet

    Overview

    This is a buildable corner lot in an established residential community, offering a quiet setting at the end of a cul-de-sac. The parcel is sized for a new home build and sits within Penny Lane Estates. The community is described as having renovated pool and clubhouse amenities, sidewalks, mature trees, and a maintained, neighbor-friendly environment. Underground utilities are noted to include gas and high-speed internet, which can simplify planning for a new residence.

    Located in Lindale, Texas, the property is positioned within the Lindale ISD. Public remarks also highlight nearby recreation opportunities, including Tyler State Park and Garden Valley Golf Resort, which can be appealing for residents seeking access to outdoor and leisure activities. The listing address is 585 Imagine Drive, Lindale, TX 75771, providing a clear reference point for buyers and agents.

    For prospective homeowners, this corner configuration and cul-de-sac placement can offer a comfortable balance of privacy and neighborhood feel. The presence of sidewalks and community amenities may support a lifestyle-oriented build plan, while the availability of underground utilities is practical for modern home design and efficient hookup planning. If you’re looking to secure a lot in Penny Lane Estates and start fresh, this parcel presents a straightforward opportunity to build in a long-established community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    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
    Lindale
    County
    Smith
    State
    Texas
    Longitude
    -95.417535
    Latitude
    32.509296

    Nearby Similar for Sale

    • $2,400,000

      Golf Resort Clubhouse & Event Center

      A 28,000-square-foot clubhouse with fully stocked restaurant and event space, set on 10 acres with golf amenities.
      22049-B Fm 1995, Lindale, TX 75771
      View Details
    • $699,000
      1,500 SF

      Multi-Use Zoned Development Land

      3.14-acre vacant home site zoned for multi-use, offering a single-entrance entry point off CR 472.
      13593 CR 472, Lindale, TX 75771
      View Details
    • $395,000

      Renovated Office Building with Reception

      Renovated office layout with reception, four offices, conference room, and parking, positioned for strong visibility.
      1501 S Main Street, Lindale, TX 75771
      View Details
    • $370,000

      Commercial Property on Main Street

      For-sale commercial property on S Main with significant daily traffic in Lindale, Texas.
      1206 S Main, Lindale, TX 75771
      View Details
    • $155,000

      Corner-Frontage Commercial Acreage

      Over 5 acres of level, dual-road frontage land suited for a range of commercial development options near Interstate 20.
      15431 Cr-424, Lindale, TX 75771
      View Details
    • $180,000

      Flex Space with Detached Workshop

      Versatile interior layout plus a detached workshop with bay door supports retail, office, or storage needs.
      106 S College Street, Lindale, TX 75771
      View Details
    • $425,000

      Corner Retail-Office Building

      Historic downtown corner property with two-road frontage and flexible space for retail, office, or service use.
      100 E Hubbard Street, Lindale, TX 75771
      View Details
    • $600,000

      Commercial Development Land with Electricity

      Unimproved tract with on-site electricity and dual major-road access, offering flexible options for investment and development within Lindale ISD.
      16864 Fm 16 W, Lindale, TX 75771
      View Details
    • $220,000

      Corner Mixed-Use Office Residence

      A commercially zoned corner home with flexible room configurations, ideal for office or small business concepts, sold AS-IS with TLC.
      103 Pearl Street, Lindale, TX 75771
      View Details
    • $850,000

      Corner Storefront with Flexible Layout

      A highly visible corner storefront with a flexible interior suited for retail, office, or boutique service use.
      100 N Main Street, Lindale, TX 75771
      View Details
    • $9,900,000

      Golf Resort Development Land

      Development-ready acreage with a clubhouse and 18-hole course, suited for golf or mixed residential uses.
      22049 Fm 1995, Lindale, TX 75771
      View Details
    • $827,000

      Lindale Land Along Interstate 20

      37+ acres with Interstate 20 frontage in Lindale, Texas.
      Interstate 20, Lindale, TX 75706
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Cul-de-sac corner lot with underground utilities, ready for new construction in a well-kept, amenity-focused neighborhood.
    Where is this residential land & home lot located?
    The property is located at 585 Imagine Drive Lindale, TX.
    What is the asking price?
    The asking price for this property is $76,000.
    What are key features of this property?
    This property features: Corner lot in Penny Lane Estates, located on a quiet cul‑de‑sac; Lindale ISD; Public water and public sewer available
    (214) 814-8100
    We can help!
    Listing Contact
    Norma Medina
    Real Estate License ID: 0742490
    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
    585 Imagine Drive, Lindale, TX 75771
    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!