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    Waterfront Home Lot Opportunity Title is generated by Realmo AI

    7612 W Shore Drive, The Colony, TX 75056

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    Claim this Listing
    Pending
    $170,000

    LAND - The Colony, TX

    Lot size:
    0.15 Acres
    Added:
    Mar 22, 2026
    Days on Market:
    73
    Last Refresh:
    Jun 2 at 11:06 pm

    Property Features for 7612 W Shore Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    R08984
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Description
    GARZA LAKE ESTATES BLK 13 LOT 24
    Tax Annual Amount
    1655

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Stephen Stamey

    Listing agent Stephen Stamey License #0728155

    Listing office Repeat Realty, LLC Lewisville, TX

    Listing date Mar 22, 2026

    MLS# 21105459 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

    • Lot in The Colony with public water and public sewer available
    • Within walking distance to Lewisville Lake
    • Across the street from West Shore Playground
    • About 15 minutes to Grandscape, Shops at Legacy, Stonebriar Mall, and The Star in Frisco
    • About 20 minutes to PGA Headquarters
    • Multiple golf courses nearby, including Stewart Peninsula Golf Course, Frisco Lakes Golf Course, and The Tribune Golf Complex (about 10 minutes)

    Overview

    This waterfront lot in The Colony offers a rare mix of tranquil surroundings and practical convenience. At roughly 0.149 acres, the property provides an opportunity to build a custom home or pursue it as an investment property. The setting includes waterside access and views, with a short walk to Lewisville Lake for outdoor enjoyment close to home.

    The location is family-friendly, with West Shore Playground directly across the street and green space for everyday recreation. You’re also positioned for quick access to several well-known destinations, including Grandscape, Shops at Legacy, Stonebriar Mall, and The Star in Frisco, each described as about 15 minutes away. For sports and golf interests, PGA Headquarters is noted as approximately 20 minutes away, and multiple championship-level golf options, including Stewart Peninsula Golf Course, Frisco Lakes Golf Course, and The Tribune Golf Complex, are described as around 10 minutes away.

    For buyers looking to design a primary residence around a lake-oriented lifestyle, this lot’s balance of peaceful scenery and nearby amenities makes it a compelling choice. Investors may also value the property’s location within reach of major regional draws and recreational assets.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant 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
    The Colony
    County
    Denton
    State
    Texas
    Longitude
    -96.900496
    Latitude
    33.106636

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    FAQs

    What type of property is this?
    Residential land & home lot - Build in a waterfront setting with nearby recreation and convenient access to major shopping and entertainment destinations.
    Where is this residential land & home lot located?
    The property is located at 7612 W Shore Drive The Colony, TX.
    What is the asking price?
    The asking price for this property is $170,000.
    What are key features of this property?
    This property features: Lot in The Colony with public water and public sewer available; Within walking distance to Lewisville Lake; Across the street from West Shore Playground
    (972) 966-6683
    We can help!
    Listing Contact
    Stephen Stamey
    Real Estate License ID: 0728155
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    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.

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