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    7237 Parker Rd Allen, TX 75002

    • Commercial real estate
    • 25.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4589974
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 7237 Parker Rd

    Lot size
    25.00 lot acres
    Property type
    Commercial real estate
    APN
    361682

    Description

    This exceptional 25-acre commercial land parcel in Allen, Texas, presents a compelling investment opportunity. Located at 7237 E Parker Rd, Collin County, zip code 75002, this property boasts significant frontage on Parker Road (approximately 600 feet), offering unparalleled visibility. The land is zoned Residential (SF-1) and includes seventeen one-acre lots and two lots exceeding two acres each. City entitlements and approved site plans are in place, streamlining the development process. Existing water and electrical services are readily available. The property features level topography, making it ideal for various development projects. Given the thriving residential market in Lucas, Texas, with median home prices reaching $1.1 million (April 2024) and listings exceeding $5.3 million, this land offers substantial potential for significant returns. The APN is 361682. The asking price is $5,999,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Allen
    County
    Collin
    State
    Texas
    Longitude
    -96.59351832
    Latitude
    33.05525617

    Comparable in this City

    • $1,250,000

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      Commercial land suitable for office, tech, flex, or industrial use.
      1015 E Main St, Allen, TX 75002
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    • $2,975,000

      Prime Retail Land in Allen

      3.5 acres of retail-zoned land at a hard corner.
      0000 Greenville Ave, Allen, TX 75002
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    • $7,850,000
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      Unincorporated Land in Allen, TX

      29-acre property near proposed development in Parker, Texas.
      Tbd Cr-247 Rd, Allen, TX 75002
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    • $789,000
      3.26 Acres

      3.262-Acre Creekside Lot, No HOA

      3.262-acre lot in Lucas, TX, Lovejoy ISD, build your dream estate.
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    Similar Nearby for Sale

    • $1,250,000

      Commercial Land on Greenville Avenue

      One acre of commercial land suitable for various businesses.
      1489 S Greenville Ave, Allen, TX 75002
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    • $1,100,000
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      Land Near Allen Premium Outlet

      8+ acre property near Allen Premium Outlet and Lake Lavon.
      1705 Stinson Rd, Allen, TX 75002
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    • Contact for pricing

      Commercial Development Site Available

      Commercial land suitable for office, tech, flex, or industrial use.
      1015 E Main St, Allen, TX 75002
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    • $2,975,000

      Prime Retail Land in Allen

      3.5 acres of retail-zoned land at a hard corner.
      0000 Greenville Ave, Allen, TX 75002
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    • $7,850,000
      29.00 Acres

      Unincorporated Land in Allen, TX

      29-acre property near proposed development in Parker, Texas.
      Tbd Cr-247 Rd, Allen, TX 75002
      View Details
    • $789,000
      3.26 Acres

      3.262-Acre Creekside Lot, No HOA

      3.262-acre lot in Lucas, TX, Lovejoy ISD, build your dream estate.
      2485 Country Club Rd, Allen, TX 75002
      View Details

    Similar Nearby for Lease

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      Land for Lease in Allen

      Land available in a dynamic shopping and entertainment destination.
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      2,280 SF

      Allen Retail Space - Prime Location

      High-visibility retail space near Walmart.
      1836 Bethany Dr, Allen, TX 75002
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    • $17 SF/Yr
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      Office Space in Allen, TX

      3,110 SF office space available for lease.
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    • Contact for pricing
      1,200 SF

      Retail Space in High-Growth Area

      Former nail salon in a high-growth sub-market.
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      Prime Allen location suitable for medical or professional office use.
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      3,900 SF

      Allen Heights Village Retail Center

      Prime Allen, TX Shopping Center - 3,900 SF
      1201 Main St, Allen, TX 75002
      View Details
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    7237 Parker Rd
    Allen, TX 75002
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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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