Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Vacant Commercial Land Site Title is generated by Realmo AI

    764 S Mitchell Road, Mansfield, TX 76063

    View on Map
    Claim this Listing
    For Sale
    $9,500,000

    LAND - Mansfield, TX

    Lot size:
    36.69 Acres
    Added:
    Jan 6, 2026
    Days on Market:
    149
    Last Refresh:
    Jun 4 at 1:06 pm

    Property Features for 764 S Mitchell Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    42569671
    Lot size
    36.69 Acres

    Taxes and HOA fees

    Tax Description
    DELAY, DANIEL SURVEY ABSTRACT 421 TRACT 3A &
    Tax Annual Amount
    9387

    We can help!

    Listing Contact
    Bob Vinson
    Bob Vinson

    Listing agent Bob Vinson License #0329112

    Listing office Bob Vinson Real Estate, LLC Mansfield, TX

    Listing date Jan 6, 2026

    MLS# 20446456 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

    • Vacant land totaling 36.694 acres, per survey dated May 3, 2018
    • Engineer estimates 6 acres in the flood area
    • Location south of Heritage Pkwy between US Hwy 287 S and Mitchell Rd 36
    • Adjacent to recently built commercial and industrial buildings to the north

    Overview

    The property is a vacant commercial land parcel totaling 36.694 acres per a survey dated May 03, 2018. An engineer has estimated that approximately six acres fall within a flood area, which may affect site planning and development costs. The land is currently unimproved and positioned for future development within a growing market.

    The site lies south of Heritage Pkwy between US Hwy 287 S and Mitchell Rd 36. The highway access road is being developed on the west side of US Hwy 287 S. To the north, large commercial and industrial buildings have recently been constructed, while a hospital to the northeast is expanding and a new hospital has recently opened to the south. Residential development and new schools are also progressing to the south, supporting increasing demand in the area.

    With substantial land area and strong surrounding growth, this offering may appeal to developers and investors seeking to secure future capacity in a rapidly developing corridor. Prospective buyers should plan for due diligence around the estimated flood-area limits and coordinate early with access-road timing to understand feasibility, site layout options, and permitting requirements for their intended use.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Tarrant
    State
    Texas
    Longitude
    -97.108321
    Latitude
    32.549594

    Nearby Similar for Sale

    • $747,000

      Downtown Retail-Ready Office Space

      Versatile downtown office layout with abundant concrete parking, well-suited for customer-facing concepts with quick occupancy.
      400 E Broad Street, Mansfield, TX 76063
      View Details
    • $2,700,000

      Fully Leased Medical Office Building

      Almost brand-new medical office property with current income from day one and a tenant base on young leases.
      1701 Fountainview Drive, Mansfield, TX 76063
      View Details
    • $1,500,000

      Corner Development Land Opportunity

      5-acre corner parcel zoned PR offers flexible potential for future residential, commercial, or industrial development.
      2507C Howell Drive, Mansfield, TX 76084
      View Details
    • $725,000

      Cleared Commercial Land Near HEB

      Cleared, ready-to-develop land positioned for retail or office use with convenient access to Highway 287.
      280 N Mitchell Road, Mansfield, TX 76063
      View Details
    • $680,700

      Corner Retail and Restaurant Land

      Highly visible corner site at a four-way intersection, already zoned for retail, office, and food uses.
      801 Lillian Road, Mansfield, TX 76063
      View Details
    • $575,000

      Zoned Medical/Professional Land Lot

      Last available lot in a business park suited for deed-restricted medical or professional office development.
      1031 Matlock Road, Mansfield, TX 76063
      View Details
    • $899,900

      Prime Development Land in Mansfield, TX

      7.6 acres of land ideal for residential development.
      7322 Retta Mansfield Road, Mansfield, TX 76063
      View Details
    • $880,000

      Vacant Commercial Land with Dual Frontage

      Vacant land with C-2 zoning and dual street frontage, with prior medical office plans available for review.
      1295 N Main Street, Mansfield, TX 76063
      View Details
    • $6,553,820

      Zoned Commercial Land Frontage

      6+ acre Mansfield corridor parcel with direct frontage, utilities, and zoning for retail, office, and restaurant uses.
      1848 E Broad Street, Mansfield, TX 76063
      View Details
    • $1,065,000

      Single-Family Development Acreage

      Over three acres in a Mansfield planned development, permitted for single-family homes under subdivision rules.
      2511 Mathis Road, Mansfield, TX 76063
      View Details
    • $559,000

      Tenant-Occupied Duplex Investment

      Two leased units provide immediate rental income, with flexibility to purchase one or both sides.
      1334 Piedmont Drive, Mansfield, TX 76063
      View Details
    • $1,100,000

      Office Condo Unit with Golf Simulator

      4-unit office condominium suite with reception, kitchen, private offices, and a large common area currently set up for a golf simulator.
      1380 N US Hwy 287, Mansfield, TX 76063
      View Details

    FAQs

    What type of property is this?
    Commercial land - Vacant acreage in a fast-developing corridor, with portions estimated within a flood area.
    Where is this commercial land located?
    The property is located at 764 S Mitchell Road Mansfield, TX.
    What is the asking price?
    The asking price for this property is $9,500,000.
    What are key features of this property?
    This property features: Vacant land totaling 36.694 acres, per survey dated May 3, 2018; Engineer estimates 6 acres in the flood area; Location south of Heritage Pkwy between US Hwy 287 S and Mitchell Rd 36
    (817) 690-9901
    We can help!
    Listing Contact
    Bob Vinson
    Bob Vinson
    Real Estate License ID: 0329112
    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
    764 S Mitchell Road, Mansfield, TX 76063
    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!