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    Build-to-Suit Industrial Site Title is generated by Realmo AI

    McGarity Lane, Lucas, TX 75002

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    Claim this Listing
    New
    For Sale
    $2,895,000

    SINGLE_FAMILY - Lucas, TX

    Type:Retail
    Lot size:
    1.10 Acres
    Added:
    May 28, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 3 at 10:06 am

    Property Features for McGarity Lane

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Property condition
    Under Construction
    Standard status
    Active
    APN
    1217837
    Lot size
    1.10 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    2026
    Floors in Building
    1
    Number of units
    1
    Building materials
    SteelSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Paige Owens
    Paige Owens

    Listing agent Paige Owens License #0540363

    Listing office Owens Realtors Allen, TX

    Listing date May 28, 2026

    MLS# 21002499

    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

    • Proposed Lucas commercial development with 4 proposed buildings (build‑to‑suit)
    • Building A (Lot 2): single‑story steel building with 16,800 sqft
    • Building B (Lot 4): single‑story steel building with 10,000 sqft
    • Building C (Lot 3): single‑story steel building with 15,400 sqft
    • Building D (Lot 1) is sold
    • Public utilities: public water and public sewer; metal roof; proposed site plan, layouts, elevations, and digital renderings available

    Overview

    This is a proposed development site featuring four planned build-to-suit buildings. Buildings A (Lot 2), B (Lot 4), and C (Lot 3) are each described as single-story steel structures, with example layout, design, and digital renderings available. Building A is shown at 16,800 square feet, Building B at 10,000 square feet, and Building C at 15,400 square feet. Building D (Lot 1) is noted as sold. The seller indicates the site is planned for build-to-suit occupancy, with a proposed site plan available.

    The offering is located in Lucas, Texas on McGarity Lane, within the City of Lucas CB zoning. The listing provides a general group of permitted use categories that include office and professional space, retail use, and automobile, transportation, utility, and communication-related uses, along with other uses. The parcel is listed at 1.1 acres.

    For tenants, buyers, or operators, the build-to-suit format is designed to support customized occupancy within a limited set of planned single-story steel options. The mix of office/professional and retail-leaning categories alongside transportation and utility-related uses may fit a range of businesses seeking a purpose-built facility rather than an existing space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Lucas
    County
    Collin
    State
    Texas
    Longitude
    -96.610544
    Latitude
    33.092654

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    FAQs

    What type of property is this?
    Commercial land - Proposed build-to-suit industrial development with multiple single-story steel buildings and flexible user groups.
    Where is this commercial land located?
    The property is located at McGarity Lane Lucas, TX.
    What is the asking price?
    The asking price for this property is $2,895,000.
    What are key features of this property?
    This property features: Proposed Lucas commercial development with 4 proposed buildings (build‑to‑suit); Building A (Lot 2): single‑story steel building with 16,800 sqft; Building B (Lot 4): single‑story steel building with 10,000 sqft
    (214) 383-6853
    We can help!
    Listing Contact
    Paige Owens
    Paige Owens
    Real Estate License ID: 0540363
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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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