Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land for Lease Opportunity Title is generated by Realmo AI

    Ovilla Rd, Ovilla, TX

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land available for lease near major retailers and residential developments.

    Type:LAND
    Lot size:
    10.00 Acres
    Added:
    Apr 17, 2023
    Days on Market:
    1145
    Last Refresh:
    May 20 at 9:47 pm

    Property Features for Ovilla Rd

    General Information

    Standard status
    Active
    Lot size
    10.00 Acres
    Property subtype
    LAND

    Properties For Sale

    at Ovilla Rd Contact us

    We can help!

    Listing Contact
    Blake Barnes
    Blake Barnes

    Listing agent Blake Barnes License #419172

    Listing office DuWest Realty | Dallas

    Listing date Apr 17, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of DuWest Realty | Dallas

    HighLights

    • Prime location at the southwest corner of Ovilla Road and S. Westmoreland Road.
    • Cross access to a signalized intersection.
    • Surrounded by new residential developments.
    • Easy access to I‑35 and the new/future Loop 9.
    • Close proximity to Walmart, Brookshires, Chick‑Fil‑A, Starbuck’s, Chipotle, Panda Express and many more national retailers.
    • Call for Info & Pricing.

    Overview

    Located at the southwest corner of Ovilla Road and S. Westmoreland Road, this land offers cross access to a signalized intersection. The property is surrounded by new residential developments and provides easy access to I-35 and the upcoming Loop 9. It is in close proximity to Walmart, Brookshires, Chick-Fil-A, Starbucks, Chipotle, Panda Express, and various other national retailers. The property is available for lease.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Ovilla
    County
    Ellis
    State
    Texas
    Longitude
    -96.8864
    Latitude
    32.5265

    Nearby Similar for Sale

    • $235,000

      Office Conversion with Parking Expansion

      Zoned commercial and centrally conditioned, the property offers waiting space, full amenities, and the potential for multiple office suites.
      3314 Ovilla Road, Ovilla, TX 75154
      View Details
    • $1,500,000

      Working Horse Ranch with Stable

      Fully equipped equestrian property featuring an 18-stall stable, training facilities, a dirt track, and a warehouse with living quarters.
      1715 S Joe Wilson Road, Ovilla, TX 75104
      View Details
    • $165,000

      Ovilla Homesite with Mature Trees

      Rare 1+ acre homesite in established Ovilla neighborhood.
      205 Brookwood Court, Ovilla, TX 75154
      View Details
    • $139,000

      Residential Land in Ovilla, TX

      Unimproved lot in Ovilla, TX, for building a dream home.
      Holly Lane, Ovilla, TX 75154
      View Details
    • $1,685,000

      Ovilla Industrial Development Land

      19.34 acres of industrial land in Ovilla, Texas.
      1906 Bear Creek Rd, Ovilla, TX
      View Details
    • $1,685,000

      Industrial Land For Sale

      19.34 acres of industrial-zoned land available.
      1906 Bear Creek Rd, Ovilla, TX 75154
      View Details
    • Contact for pricing

      9.789 Acres Commercial Land

      9.789 acres suitable for retail, restaurant, medical, office.
      FM 664, Ovilla, TX 75154
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      SWC Ovilla Rd. @ S. Westmoreland Rd., Ovilla, TX 75154
      View Details

    FAQs

    What type of property is this?
    Land - Land available for lease near major retailers and residential developments.
    Where is this land located?
    The property is located at Ovilla Rd Ovilla, TX.
    What are key features of this property?
    This property features: Prime location at the southwest corner of Ovilla Road and S. Westmoreland Road.; Cross access to a signalized intersection.; Surrounded by new residential developments.
    (972) 514-2254 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Blake Barnes
    Blake Barnes
    Real Estate License ID: 419172
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Ovilla Rd , Ovilla, TX
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!