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    15820 County Line Rd Elgin, TX 78621

    • Land
    • 15.04 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 15820 County Line Rd

    Lot size
    15.04 lot acres
    Property type
    Land
    Property subtype
    Farms

    Description

    This exceptional 15.04-acre farm presents a unique investment opportunity in the rapidly growing Elgin, Texas area. Located just 2.9 miles from Highway 290, this property boasts 600 feet of road frontage and benefits from its location within the Elgin ETJ (Extra Territorial Jurisdiction). The land is characterized by flat, even terrain, making it ideal for various development projects. Utilities including water, phone, and electricity are readily available. The property's strategic position is further enhanced by its proximity to over 1,800 existing homes and a planned 400+ acre commercial development. Its location offers easy access to major employers such as the new Samsung facility in Taylor (minutes away) and Tesla (approximately 30 minutes away). The absence of restrictive covenants and the presence of an existing agricultural exemption add to its appeal. Furthermore, the property is situated outside of any flood plain, minimizing risk. This ready-to-develop land is perfect for investors, builders, or developers seeking to capitalize on the booming Austin-area market, with potential uses including residential subdivisions, apartments, commercial ventures, or warehousing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Travis
    State
    Texas
    Longitude
    -97.3868
    Latitude
    30.3936

    Comparable in this City

    • Value Estimation by Request
      27.57 Acres

      1119 Co Rd

      Farms • 27.57 Acres
      1119 Co Rd, Elgin, TX 78621
      View Details
    • Value Estimation by Request
      51.00 Acres

      4201 Co Rd

      Farms • 51.00 Acres
      4201 Co Rd, Elgin, TX 78621
      View Details
    • Value Estimation by Request
      12.92 Acres

      174 Wilson Rd

      Farms • 12.92 Acres
      174 Wilson Rd, Elgin, TX 78621
      View Details
    • Value Estimation by Request
      3,312 SF

      4201 County Road 463

      Agricultural properties • 3,312 SF
      4201 County Road 463, Elgin, TX 78621
      View Details
    • Value Estimation by Request
      4.00 Acres

      16005 Us-290

      Land • 4.00 Acres
      16005 Us-290, Elgin, TX 78621
      View Details
    • Value Estimation by Request
      10.80 Acres

      1007 Old Mcdade Rd

      Land • 10.80 Acres
      1007 Old Mcdade Rd, Elgin, TX 78621
      View Details

    Similar Nearby for Sale

    • $650,000
      12.92 Acres

      Elgin, TX Commercial Farm Land

      12.92 Acres, Ag-Exempt, $650,000
      174 Wilson Rd, Elgin, TX 78621
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    • Contact for pricing
      15.04 Acres

      Elgin Farm: 15 Acres Near Austin

      Prime Texas farmland, Austin proximity, development potential.
      15820 County Line Rd, Elgin, TX 78621
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    • $990,000
      27.57 Acres

      Elgin, TX Ag Land - 27 Acres

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    • $600,000

      Elgin Acreage with Barns

      Unrestricted 12.92-acre property with barns, well, and pasture.
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    • $1,425,000

      Charming Texas Estate: Rust Bucket Farm

      Historic Texas estate with reconstructed home, barn, and mature trees.
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    • $475,000

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      14 acres with pond, trees, and workshop in Texas.
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    Similar Nearby for Lease

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      Downtown Elgin Office Space

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    15820 County Line Rd
    Elgin, TX 78621
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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.

    More about this property
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