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

    7408 Elm Street, The Colony, TX 75056

    View on Map
    Claim this Listing
    For Sale
    $140,000

    6,000 SF vacant lot zoned Light Commercial (LC).

    Type:Lots & Acreage / Unimproved Land
    Property size:
    6,011 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $23/SF
    Added:
    Feb 3, 2026
    Days on Market:
    119
    Last Refresh:
    Mar 17 at 6:55 am

    Property Features for 7408 Elm Street

    General Information

    Standard status
    Active
    Size
    6,011 SF
    Lot size
    0.14 Acres
    Property subtype
    Lots & Acreage / Unimproved Land

    We can help!

    Listing Contact
    Blanca Montanez
    Blanca Montanez

    Listing agent Blanca Montanez License #0777053

    Listing office Great American GMAC Real Estat

    Listing date Feb 3, 2026

    Source Compass

    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 Great American GMAC Real Estat

    HighLights

    • Light Commercial (LC) zoning offers flexibility.
    • Vacant lot of approximately 6,000 SF.
    • Proximity to Lewisville Lake enhances location appeal.
    • Ideal infill opportunity for owner‑users or investors.
    • Conceptual rendering available to illustrate potential building configuration.
    • Located in The Colony, TX, a growing area.

    Overview

    This vacant lot, zoned Light Commercial (LC), offers approximately 6,000 SF in an established commercial area of The Colony, TX, near Lewisville Lake. It is well-suited for service or professional uses, including contractor offices, service companies, or flex service development. A conceptual rendering is available to illustrate a potential single-story service building configuration. This infill opportunity is ideal for owner-users or investors seeking a flexible light commercial site in a growing area. Buyers should verify all zoning, permitted uses, development standards, and utility availability with the City of The Colony.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    The Colony
    County
    Denton
    State
    Texas
    Longitude
    -96.8209212
    Latitude
    33.1491827

    Nearby Similar for Sale

    • $720,000

      Single-Tenant Office Condo on SH 121

      High-visibility office condo with stable tenant and renewal potential.
      4815 State Highway 121, The Colony, TX 75056
      View Details
    • $185,000
      2,138 SF

      Residential Land with Approved Plans

      Ready-to-build lot with architectural plans in The Colony, TX.
      4604 Red Bud Court, The Colony, TX 75056
      View Details
    • $140,000

      Prime Land in The Colony

      Commercial land in high-growth location near major destinations.
      7420 Elm Street, The Colony, TX 75056
      View Details
    • $1,880,000

      Finished Townhome Lots in Colony

      18 finished townhome lots in The Colony, TX.
      5613 Woodlands Drive, The Colony, TX 75056
      View Details
    • $140,000

      Vacant Lot in The Colony

      6,000 SF Light Commercial lot in The Colony, TX.
      7408 Elm Drive, The Colony, TX 75056
      View Details
    • $899,900

      Waterfront Land in The Colony

      2.167 acres of waterfront land for sale.
      Overlake Drive, The Colony, TX 75056
      View Details
    • $390,000

      Residential Land in Gated Community

      Over half-acre lot in The Colony's gated community.
      7413 Waters Edge Court, The Colony, TX 75056
      View Details
    • $439,000

      Lake View Land in Colony

      Private lake view property in North Dallas gated community.
      7409 Waters Edge Court, The Colony, TX 75056
      View Details
    • $2,100,000

      Restaurant and Donut Drive-Through Opportunity

      Drive-through restaurant and donut shop located at 5401 S Colony.
      5401 S Colony Boulevard, The Colony, TX 75056
      View Details
    • $320,000

      Residential Lot in Garza Lake

      Premium lot for custom home in The Colony, Texas.
      4595 Haven Hill Drive, The Colony, TX 75056
      View Details
    • $170,000

      Prime Lot in The Colony

      Ideal location near Lewisville Lake with endless possibilities.
      7612 W Shore Drive, The Colony, TX 75056
      View Details
    • $170,000

      Residential Land in Established Neighborhood

      Ready-to-build lot with architectural plans and utility improvements included.
      4620 Red Bud Court, The Colony, TX 75056
      View Details

    FAQs

    What type of property is this?
    Commercial land - 6,000 SF vacant lot zoned Light Commercial (LC).
    Where is this commercial land located?
    The property is located at 7408 Elm Street The Colony, TX.
    What is the asking price?
    The asking price for this property is $140,000.
    What are key features of this property?
    This property features: Light Commercial (LC) zoning offers flexibility.; Vacant lot of approximately 6,000 SF.; Proximity to Lewisville Lake enhances location appeal.
    (620) 640-9508
    We can help!
    Listing Contact
    Blanca Montanez
    Blanca Montanez
    Real Estate License ID: 0777053
    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
    7408 Elm Street, The Colony, TX 75056
    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!