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    Buildable Waterfront Residential Lot Title is generated by Realmo AI

    Castlelake Drive, Granite Shoals, TX 78654

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    LAND - Granite Shoals, TX

    Lot size:
    0.11 Acres
    Added:
    May 14, 2026
    Days on Market:
    21
    Last Refresh:
    Jun 3 at 11:06 pm

    Property Features for Castlelake Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residentia
    Standard status
    Active
    APN
    017415
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Description
    Lot 293 Greencastle (Sherwood Shores) TBD Castlelake Drive

    Utilities

    Sewer type
    Septic Needed
    Water source
    Public

    We can help!

    Listing Contact
    Kim Lookabaugh

    Listing agent Kim Lookabaugh License #0407367

    Listing office My Texas Home Broker 501 Main Street, Marble Falls, TX

    Listing date May 14, 2026

    MLS# 177938 Listing URL

    Copyright © 2026 Highland Lakes Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Buildable lot in Granite Shoals near Lake LBJ, with walking access to the lake and a waterfront park
    • City water available; septic is required
    • Lot size is approximately 50' x 100' with significant trees and plants
    • Building restrictions per the City of Granite Shoals
    • Located on the northern side of Lake LBJ between Marble Falls and Kingsland

    Overview

    This buildable residential lot in Granite Shoals offers a straightforward setting for constructing a new home, with significant existing trees and plants on the property. The seller notes that building restrictions apply per the City of Granite Shoals, so buyers will want to confirm planned improvements against local requirements prior to design and permitting. The lot is positioned for a residential build where city water is available, while septic is required.

    The property is described as walkable to Lake LBJ, with a nearby waterfront park also noted as being just steps away. Granite Shoals is characterized in the listing as the “City of Parks,” and the property is described as located on the northern side of Lake LBJ between Marble Falls and Kingsland, Texas.

    For homeowners and builders seeking a small, build-ready site in a lake-adjacent community, this lot can support a primary residence where buyers plan around septic requirements and city-approved building restrictions. Its tree coverage and planted landscaping can help preserve mature greenery during site planning, while its proximity to Lake LBJ and the waterfront park may appeal to those prioritizing convenient access to outdoor recreation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Granite Shoals
    County
    State
    Texas
    Longitude
    -98.3865241
    Latitude
    30.59508788

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    FAQs

    What type of property is this?
    Residential land & home lot - Buildable lot near Lake LBJ with city water available and septic required for home construction.
    Where is this residential land & home lot located?
    The property is located at Castlelake Drive Granite Shoals, TX.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Buildable lot in Granite Shoals near Lake LBJ, with walking access to the lake and a waterfront park; City water available; septic is required; Lot size is approximately 50' x 100' with significant trees and plants
    (512) 773-1847
    We can help!
    Listing Contact
    Kim Lookabaugh
    Real Estate License ID: 0407367
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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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