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    Waterfront Homesite with Dock Potential Title is generated by Realmo AI

    Chandler Drive lot 18, Corsicana, TX 75109

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    Claim this Listing
    New
    For Sale
    $325,000

    LAND - Corsicana, TX

    Lot size:
    2.25 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 8:06 am

    Property Features for Chandler Drive lot 18

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    120462
    Lot size
    2.25 Acres

    Taxes and HOA fees

    Tax Description
    T0065 THE OVERLOOK AT RICHALND CHAMBERS LAKE
    Tax Annual Amount
    1370

    Utilities

    Water front features
    Waterfront, Lake Front
    Water front
    1

    We can help!

    Listing Contact
    Julie Teel

    Listing agent Julie Teel License #0380798

    Listing office RE/MAX Lakeside Dreams Corsicana, TX

    Listing date Jun 3, 2026

    MLS# 21279241 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

    • Waterfront homesite on Richland Chambers Lake with open water views and Lake Front location
    • Approximately 273 ft of lake frontage with a private dock permitted
    • 2.249‑acre lot that is mostly cleared for building a lake retreat
    • Direct access for boating, fishing, kayaking, and relaxing by the water
    • Located in The Overlook on Richland Chambers Lake, near Corsicana and within reach of the DFW Metroplex

    Overview

    This waterfront homesite offers open water views along Richland Chambers Lake, with a mostly cleared setting that’s ready for development. The property includes approximately 273 feet of lake frontage and is described as having a private dock permitted, supporting direct enjoyment of the water for boating, fishing, kayaking, or waterfront relaxation. A mix of remaining trees and wide-open sight lines balances natural character with buildable space for a custom lake retreat.

    Set within The Overlook on Richland Chambers Lake, the lot is positioned for a quiet, shoreline-oriented lifestyle while keeping daily needs within reach. The property is located near Corsicana for shopping, dining, and everyday essentials, with the DFW Metroplex also within comfortable reach for buyers who want to trade city traffic for lake views and open space.

    For buyers looking to build a primary residence, retirement retreat, or weekend escape, this site offers the key attributes of lake living: frontage, views, and dock potential. Its mostly cleared condition may appeal to owners planning a straightforward build process while still maintaining the option to incorporate the few existing trees into the overall site plan.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Corsicana
    County
    Navarro
    State
    Texas
    Longitude
    -96.3417
    Latitude
    32.0533

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    FAQs

    What type of property is this?
    Waterfront Land - Mostly cleared lakefront lot offers open water views and permitted private dock for direct on-water access.
    Where is this waterfront land located?
    The property is located at Chandler Drive lot 18 Corsicana, TX.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Waterfront homesite on Richland Chambers Lake with open water views and Lake Front location; Approximately 273 ft of lake frontage with a private dock permitted; 2.249‑acre lot that is mostly cleared for building a lake retreat
    (903) 874-0001
    We can help!
    Listing Contact
    Julie Teel
    Real Estate License ID: 0380798
    Learn More
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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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