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    Water-View Corner Lot Title is generated by Realmo AI

    Glen Ellen Road, Pottsboro, TX 75076

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    Claim this Listing
    For Sale
    $199,000

    LAND - Pottsboro, TX

    Lot size:
    1.00 Acre
    Added:
    Mar 21, 2026
    Days on Market:
    76
    Last Refresh:
    Jun 4 at 7:06 pm

    Property Features for Glen Ellen Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    409376
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Description
    WOOD GLEN ELLEN PHASE II, LOT 2, ACRES 1.
    Tax Annual Amount
    2231

    We can help!

    Listing Contact
    Daniel Smith
    Daniel Smith

    Listing agent Daniel Smith License #173185

    Listing office Better Homes & Gardens, Winans Sherman, TX

    Listing date Mar 21, 2026

    MLS# 21213801 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

    • Corner lot near Lake Texoma with a water view to the west of the lake
    • Short drive to Pottsboro, Denison, and Sherman, TX
    • Hwy 289 corridor provides access south to the Dallas area
    • Hwy 289 north leads to Island View Recreational Area, Lighthouse Resort and Marina, and the Preston Point area

    Overview

    This is a waterfront-adjacent corner lot near Lake Texoma, presented as a great opportunity to build a dream home. The property includes a water view to the west, with a natural atmosphere that supports regular waterfowl activity and the occasional sighting of deer and other local wildlife. With its lake proximity and scenic outlook, the site is well suited for buyers looking to create a personal retreat close to the water.

    Conveniently located for weekend plans and day trips, the lot is a short drive to the City of Pottsboro, as well as Denison and Sherman, TX. The Hwy 289 corridor provides a direct route south toward the Dallas area, while heading north connects to the Island View Recreational area, Lighthouse Resort and Marina, and the Preston Point area.

    Lake Texoma is a U.S. Corp of Engineers lake known for fishing and boating for all ages, supporting a lifestyle centered on the outdoors. The area also has additional dining and entertainment momentum, with a Margaritaville Bar and Restaurant noted as coming soon. For buyers seeking a buildable corner site with lake views and access to recreation, this offering is a practical choice to consider.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Pottsboro
    County
    Grayson
    State
    Texas
    Longitude
    -96.679874
    Latitude
    33.846119

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    FAQs

    What type of property is this?
    Waterfront Land - Corner lot near Lake Texoma offers a west-facing water view and an ideal setting for a lakeside home.
    Where is this waterfront land located?
    The property is located at Glen Ellen Road Pottsboro, TX.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: Corner lot near Lake Texoma with a water view to the west of the lake; Short drive to Pottsboro, Denison, and Sherman, TX; Hwy 289 corridor provides access south to the Dallas area
    (903) 357-1777
    We can help!
    Listing Contact
    Daniel Smith
    Daniel Smith
    Real Estate License ID: 173185
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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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