Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Improved Industrial Land for Ground Lease Title is generated by Realmo AI

    FM 663 and Ovilla Road, Waxahachie, TX 75167

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Other - Waxahachie, TX

    Lot size:
    2.00 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    85
    Last Refresh:
    Jun 4 at 9:06 pm

    Property Features for FM 663 and Ovilla Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    225527
    Lot size
    2.00 Acres

    Taxes and HOA fees

    Tax Description
    LOT 2 MC NAUGHTONS CORNER #2 9.036 AC
    Tax Annual Amount
    7636

    Utilities

    Sewer type
    Aerobic Septic

    Building Details

    Year built
    2002
    Architectural style
    Other

    We can help!

    Listing Contact
    Mani Raveendran
    Mani Raveendran

    Listing agent Mani Raveendran License #0650043

    Listing office D&B Brokerage Services LLC Coppell, TX

    Listing date Mar 12, 2026

    MLS# 21202634 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

    • Ground lease only: available improved tract of 2 to 8 acres
    • Located behind closed I‑35E near the intersection of Marshall Rd and Ovilla Rd in Waxahachie
    • Aerobic septic system listed as the sewer service
    • Site can be subdivided to accommodate specific acreage
    • Option to expand gravel coverage as needed
    • Flexible use noted for trucking/parking/storage/operations, single or multi‑tenant

    Overview

    This listing offers an improved industrial land tract available on a ground-lease basis. The site is presented as a flexible option for single-tenant or multi-tenant use, supporting practical yard and storage requirements such as trucking, parking, and ongoing operations. Available acreage can be matched to tenant or investor needs, and the property includes the ability to subdivide for specific configurations. Gravel coverage can also be expanded as needed, allowing the operator to scale site readiness over time.

    The property is located behind the close of I-35E at the intersection of Marshall Rd and Ovilla Rd in Waxahachie, with access to major roadways and nearby conveniences. Its placement in a rapidly expanding corridor is intended to support long-term commercial use and investment planning.

    For tenants and operators, the land configuration is well-suited to trucking-related activities, storage and parking operations, and other light industrial uses that benefit from outside space and scalable site improvements. Investors and developers may also find value in the ground-lease structure and the ability to subdivide the site to align with multiple users or specific acreage requirements, with the option to further develop gravel coverage as demand dictates.
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Map

    City
    Waxahachie
    County
    Ellis
    State
    Texas
    Longitude
    -96.873779
    Latitude
    32.428552

    Nearby Similar for Sale

    • $650,000

      Victorian-Style Commercial Building

      Historic Victorian character on W Main St with income from an in-place tenant and additional space ready for leasing or owner use.
      500 W Main Street, Waxahachie, TX 75165
      View Details
    • $2,991,868

      Hard-Corner Commercial Development Land

      Cleared, level tract inside city limits with C-2/C-3 zoning and utilities in place for flexible commercial development.
      FM 813, Waxahachie, TX 75165
      View Details
    • $627,500

      Unimproved Commercial Development Land

      Level, unimproved commercial lot with concrete-street frontage and city utilities for retail, office, or service development.
      Corporate Parkway, Waxahachie, TX 75165
      View Details
    • $479,000
      2,400 SF

      Flex Warehouse with Retail Zoning

      Flexible space with office and showroom potential, heated warehouse area, and air-conditioned offices under General Retail zoning.
      621 Cow Alley Avenue, Waxahachie, TX 75165
      View Details
    • $525,000

      Industrial Land Development Site

      A near-four-acre lot positioned between major highways for potential light industrial or commercial redevelopment.
      1319 Culberson Road, Waxahachie, TX 75165
      View Details
    • $1,400,000

      Industrial Land with Approved Access

      Develop a flexible industrial site with a TxDOT-approved approach, agriculture zoning, and no flood plain noted.
      1315 Fm 1446, Waxahachie, TX 75167
      View Details
    • $7,632,065

      Waterfront Development Land with Lake Frontage

      Direct lake frontage and mature hardwoods support a high-potential residential development site with existing water service at the street.
      501 Ovilla Road, Waxahachie, TX 75167
      View Details
    • $1,400,000

      Commercial Land with Extensive Road Frontage

      High-traffic commercial land suited for drive-thru use or storage, with seller financing available.
      Highway 287, Waxahachie, TX 75165
      View Details
    • $559,200

      Waxahachie Land Ready for Builder

      Unimproved land in Waxahachie, TX, ready for development.
      Pod 1 Shadowbrook Lane, Waxahachie, TX 75165
      View Details
    • $730,200

      Vacant Commercial Pad Site

      Vacant pad in Park Place Business Center with utilities in place, suited for office or showroom development.
      TBD Lot 1 Park Place Court, Waxahachie, TX 75165
      View Details
    • $699,990

      Residential Development Land with 10-Lot Concept

      A 7.89-acre residential development site with an already-studied 10-lot concept and city sewer and water available.
      525 Lake Park Avenue, Waxahachie, TX 75165
      View Details
    • $1,625,000

      Clear-Span Agricultural Land Tract

      50 acres of clear, level farmland with road frontage and flexibility for future development or long-term investment hold.
      Mustang Road, Waxahachie, TX 75165
      View Details

    FAQs

    What type of property is this?
    Industrial land - Ground-lease opportunity with flexible acreage for trucking, parking, storage, and other light industrial operations.
    Where is this industrial land located?
    The property is located at FM 663 and Ovilla Road Waxahachie, TX.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Ground lease only: available improved tract of 2 to 8 acres; Located behind closed I‑35E near the intersection of Marshall Rd and Ovilla Rd in Waxahachie; Aerobic septic system listed as the sewer service
    (817) 312-7861
    We can help!
    Listing Contact
    Mani Raveendran
    Mani Raveendran
    Real Estate License ID: 0650043
    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
    FM 663 and Ovilla Road, Waxahachie, TX 75167
    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!