Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Lot in Old Town Title is generated by Realmo AI

    614 Lone Oak Street, Lewisville, TX 75057

    View on Map
    Claim this Listing
    For Sale
    $875,000

    Commercial lot in Lewisville's Old Town district, ready for development.

    Type:Lots/Land
    Lot size:
    0.55 Acres
    Added:
    Nov 30, 2024
    Days on Market:
    549
    Last Refresh:
    May 19 at 9:54 pm

    Property Features for 614 Lone Oak Street

    General Information

    Standard status
    Active
    Lot size
    0.55 Acres
    Property subtype
    Lots/Land

    We can help!

    Listing Contact
    Chrystya Geremesz
    Chrystya Geremesz

    Listing agent Chrystya Geremesz License #0673014

    Listing office Ebby Halliday, REALTORS

    Listing date Nov 30, 2024

    Source Exitrealty

    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 Ebby Halliday, REALTORS

    HighLights

    • Prime commercial lot in the Old Town District of Lewisville.
    • Mixed‑use zoning allows for diverse development options.
    • Utilities are already on site, streamlining the development process.
    • Potential to become a corner lot with planned street extension.
    • Easy access to Business Highway 121 and Interstate 35.
    • Located in a rapidly growing downtown area with new residential and commercial projects.

    Overview

    This commercial lot is located in the Old Town District of Lewisville. It features mixed-use zoning and provides convenient access to both Business Highway 121 and Interstate 35. Utilities are available on site, facilitating development. There is potential for the lot to become a corner lot, as Lone Oak Street is planned to extend and connect with E Purnell Street. The surrounding downtown area is experiencing growth, supported by newly constructed townhomes and apartments, as well as multiple other commercial projects.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bethel AME Church Church

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewisville
    County
    Denton
    State
    Texas
    Longitude
    -96.9910852
    Latitude
    33.0416703

    Nearby Similar for Sale

    • $1,980,000
      9,200 SF

      Lewisville Industrial Flex Investment Property

      Fully leased industrial flex property in a prime Lewisville location.
      519 Bennett Lane, Lewisville, TX 75057
      View Details
    • $1,100,000
      9,400 SF

      Turnkey Childcare Building in Lewisville

      9,400 SF building on 0.64 acres, multiple uses.
      662 S Edmonds Lane, Lewisville, TX 75067
      View Details
    • $575,000
      1,560 SF

      Turn-Key Office Suite in Lewisville

      High-visibility office suite near Hwy 121 and I-35.
      2681 Macarthur Boulevard, Lewisville, TX 75067
      View Details
    • $995,000
      3,272 SF

      Main Street Retail Opportunity

      Prime commercial property with multiple buildings in Lewisville, Texas.
      331 E Main Street, Lewisville, TX 75057
      View Details
    • $1,199,995

      High-Visibility Automotive Retail Location

      Prime location for automotive retail with excellent highway frontage.
      1506 S State Highway 121, Lewisville, TX 75067
      View Details
    • $1,990,000

      Lewisville Commercial Property For Sale

      Versatile commercial property with retail, office, and service use potential.
      2345 State Highway 121, Lewisville, TX 75056
      View Details
    • $1,200,000
      4,573 SF

      Lewisville Church with Development Potential

      Church with 1.85 acres, development potential, and office use.
      681 Mckenzie Street, Lewisville, TX 75057
      View Details
    • $450,000

      Office Condo with Reception Area

      Well-maintained office condo featuring five private offices, a large reception or work area, and two restrooms.
      376 W Main Street, Lewisville, TX 75057
      View Details
    • $1,295,000

      Multi-Tenant Office Building in Lewisville

      Multi-tenant office property near Old Town Lewisville, offering consistent rental income.
      915-921 N Mill Street, Lewisville, TX 75057
      View Details
    • $1,000,000

      Shovel-Ready Indoor Sports Facility Site

      1.04-acre site with permits for indoor sports facility.
      614 S Edmonds Lane, Lewisville, TX 75067
      View Details
    • $2,900,000

      Specialty Commercial Property

      Specialty commercial real estate offered with a business component at a Denton County address in Lewisville.
      2561 Macarthur Boulevard, Lewisville, TX 75067
      View Details
    • $2,100,000

      Prime Land in Lewisville, TX

      9.78 acres of land in the heart of Lewisville, TX.
      1205 N Mill Street, Lewisville, TX 75057
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial lot in Lewisville's Old Town district, ready for development.
    Where is this commercial land located?
    The property is located at 614 Lone Oak Street Lewisville, TX.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: Prime commercial lot in the Old Town District of Lewisville.; Mixed‑use zoning allows for diverse development options.; Utilities are already on site, streamlining the development process.
    (214) 240-0016
    We can help!
    Listing Contact
    Chrystya Geremesz
    Chrystya Geremesz
    Real Estate License ID: 0673014
    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
    614 Lone Oak Street, Lewisville, TX 75057
    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!