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    Lakefront Residential Land Title is generated by Realmo AI

    Admiral Shores lot 29, Streetman, TX 75859

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    Claim this Listing
    For Sale
    $209,900

    LAND - Streetman, TX

    Lot size:
    1.07 Acres
    Added:
    Apr 22, 2026
    Days on Market:
    43
    Last Refresh:
    Jun 3 at 2:06 am

    Property Features for Admiral Shores lot 29

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    113402
    Lot size
    1.07 Acres

    Taxes and HOA fees

    Tax Description
    A0500.02 ADMIRAL SHORES ON RICHLAND CHAMBERS

    Utilities

    Water front features
    Waterfront, Lake Front
    Water front
    1

    We can help!

    Listing Contact
    Aaron Merges
    Aaron Merges

    Listing agent Aaron Merges License #0712667

    Listing office Corey Simpson & Associates Prosper, TX

    Listing date Apr 22, 2026

    MLS# 21225558 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

    • 1‑acre lakefront homesite on Richland Chambers Lake with over 150 ft of shoreline
    • Waterfront features include lake front and waterfront positioning on an elevated building site
    • Located in the private, gated community of Admiral Shores
    • Brand new paved roads and underground utilities in the community
    • Minimum home size requirement of 1,400 sq ft
    • Ample space to build a private boat dock

    Overview

    Offered for sale is a lakefront residential homesite in Admiral Shores, presenting an elevated position designed for long-view lake living. The property offers over 150 feet of shoreline and ample space to plan a private lake home, with room for a dock. Utilities and site improvements include brand new paved roads and underground utilities, supporting a clean, orderly development feel. A build minimum of only 1,400 square feet provides flexibility while still allowing for substantial lake-home design.

    Located at Admiral Shores in Streetman, Texas, the homesite is part of a private, gated community on Richland Chambers Lake. The setting is centered on elevated, sunset-facing views, creating a strong backdrop for both weekend retreats and full-time lake use. Dallas is listed as a little over an hour away, which can make the lake lifestyle more practical without giving up distance from the metro.

    This property is well suited to buyers looking for a waterfront build opportunity where the site is already improved with new roads and underground utilities. With significant shoreline and an elevated topography, it can work for residents focused on boating access and long-term waterfront enjoyment, while maintaining the option to start construction when ready.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Streetman
    County
    Freestone
    State
    Texas
    Longitude
    -96.29226769
    Latitude
    31.94161062

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    FAQs

    What type of property is this?
    Waterfront Land - Build a premium lake home with private dock potential in a gated community on Richland Chambers Lake.
    Where is this waterfront land located?
    The property is located at Admiral Shores lot 29 Streetman, TX.
    What is the asking price?
    The asking price for this property is $209,900.
    What are key features of this property?
    This property features: 1‑acre lakefront homesite on Richland Chambers Lake with over 150 ft of shoreline; Waterfront features include lake front and waterfront positioning on an elevated building site; Located in the private, gated community of Admiral Shores
    (469) 919-2647
    We can help!
    Listing Contact
    Aaron Merges
    Aaron Merges
    Real Estate License ID: 0712667
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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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