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    3.5 Acres for Redevelopment Title is generated by Realmo AI

    870 N Mayhill Road, Denton, TX 76208

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    For Sale
    $1,750,000

    3.5 acres with four warehouses for expansion or redevelopment.

    Type:Commercial/Industrial
    Property size:
    4,800 SF
    Lot size:
    3.50 Acres
    Price / SF:
    $364/SF
    Added:
    Mar 11, 2026
    Days on Market:
    75
    Last Refresh:
    Apr 5 at 9:03 pm

    Property Features for 870 N Mayhill Road

    General Information

    Standard status
    Active
    Size
    4,800 SF
    Lot size
    3.50 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    2009

    We can help!

    Listing Contact
    Charles Horton

    Listing agent Charles Horton License #0546099

    Listing office The Michael Group Real Estate

    Listing date Mar 11, 2026

    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 The Michael Group Real Estate

    HighLights

    • 3.5 acre lot for expansion or redevelopment in high growth area
    • Four 1200 sf metal warehouses built in 2009
    • One building currently rented for $2000 pm on month to month lease
    • Mayhill Road recently expanded and improved
    • Approx. 2 acres with screened fence behind buildings
    • Each building has electricity, water, bathroom, private yard and security gate

    Overview

    This property features 3.5 acres of flat land suitable for expansion or redevelopment. It includes four metal warehouses, each measuring 1200 square feet and equipped with two grade-level doors. One of the buildings is currently rented for $2000 per month on a month-to-month lease. Approximately 2 acres behind the buildings are enclosed by a screened fence. Each building has electricity, water, a bathroom, a private yard, and a security gate. The property has a water well, and city water is available at the street. The expansion of North Mayhill Road has recently been completed. This property is located in a high-growth area with close proximity to downtown Denton. The intended use of the property is for expansion or redevelopment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Similar Places Nearby

    • 380 Storage — 3900 E University Dr, Denton, TX 76208
    • UTEX Self Storage - Denton — 2820 Virginia Cir A101, Denton, TX 76209
    • A2 Global Shipping 877-899-SHIP (7447) — 2820 Virginia St #2-a, Denton, TX 76209
    • Papa's Lot Storage Facility, LLC — 5197 Fishtrap Rd Suite B, Denton, TX 76208

    Location Insight

    • Map
    • Local Demand
    City
    Denton
    County
    Denton
    State
    Texas
    Longitude
    -97.0824
    Latitude
    33.2226

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    FAQs

    What type of property is this?
    Warehouse - 3.5 acres with four warehouses for expansion or redevelopment.
    Where is this warehouse located?
    The property is located at 870 N Mayhill Road Denton, TX.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: 3.5 acre lot for expansion or redevelopment in high growth area; Four 1200 sf metal warehouses built in 2009; One building currently rented for $2000 pm on month to month lease
    (817) 577-9000
    We can help!
    Listing Contact
    Charles Horton
    Real Estate License ID: 0546099
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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.

    More about this property
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