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    Ovilla Rd & Santa Rosa Dr Glenn Heights, TX 75154

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    For Sale
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    ±9.95 Acres, Retail Zoning, High Visibility

    Property Features for 0 Ovilla Rd & Santa Rosa Dr

    General Information

    Property type
    Land
    Lot Size
    433,466 SF

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    Listing Contact
    Ty Underwood
    Ty Underwood

    Listing Agency: SLJ Company, LLC Listing Agent: Ty Underwood

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This ±9.95-acre commercial land parcel presents a prime development opportunity in Glenn Heights, Texas. Located at the southeast corner of E Ovilla Rd (FM 664) and Santa Rosa Dr, in Dallas County, zip code 75154, this property boasts exceptional visibility and accessibility due to its location on a major thoroughfare. The site is zoned for Retail District (R), allowing for a variety of commercial uses, including restaurants (drive-throughs permitted with a Special Use Permit), retail, and office spaces. A conceptual plan already exists, suggesting three restaurant pad sites along Ovilla Road and a larger site at the rear. The property's strategic location is only 1.5 miles from the rapidly expanding Interstate 35E corridor in Ellis County, benefiting from high traffic counts and strong demographics. Significant population growth is projected for the area, with a 63.46% increase from 2010 to 2020 and a further anticipated 24.33% growth between 2022 and 2027. The surrounding area features numerous established retailers, including Walmart, Starbucks, and other national chains, creating a robust commercial environment. This site is divisible, offering flexibility for developers. The property's location and zoning make it an ideal investment for commercial development in a high-growth area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Glenn Heights
    County
    Dallas
    State
    Texas
    Longitude
    -96.8524171
    Latitude
    32.5318914

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    FAQs

    What type of property is this?
    Land - ±9.95 Acres, Retail Zoning, High Visibility
    Where is this land located?
    The property is located at Ovilla Rd & Santa Rosa Dr Glenn Heights, TX.
    What are key features of this property?
    This property features: 9.95-acre commercial land parcel in Glenn Heights, TX, at the southeast corner of E Ovilla Rd (FM 664) and Santa Rosa Dr.; Retail (R) zoning allows for various commercial uses, including restaurants (drive-throughs permitted with SUP), retail, and office; conceptual plan includes three restaurant pad sites and one larger site.; High-growth area with 63.46% population increase (2010-2020) and projected 24.33% growth (2022-2027) within a 1-mile radius.
    (214) 520-8818 Call to check price and availability
    Request Owner's contact information
    Ovilla Rd & Santa Rosa Dr Glenn Heights, TX 75154
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    Glenn Heights, TX 75154
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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
    Ovilla Rd & Santa Rosa Dr Glenn Heights, TX 75154
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ty Underwood
    Ty Underwood
    Real Estate License ID: 419172
    (214) 520-8818 (214) 274-8707
    Learn more
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