Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    State Highway 121 Lewisville, TX 75056
    Back to Search
    Property profile & analytics

    State Highway 121, Lewisville, TX 75056

    View on Map
    • Retail properties & Spaces
    • 33,416 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 State Highway 121

    Property type
    Retail properties & Spaces

    Description

    The Colony Plaza offers exceptional retail opportunities in Denton County, boasting high visibility on the major thoroughfares of SH 121 and Main Street (FM 423). This multi-tenant property comprises a total of 33,416 square feet, divided into 14 suites. Currently, there are 5,431 square feet of vacant space available, offering flexible options for businesses seeking prime retail locations. Individual spaces range from a minimum of 1,580 square feet to a maximum contiguous space of 2,154 square feet, providing versatility for various retail concepts. The property's strategic location ensures significant foot traffic and excellent brand exposure. This is an ideal opportunity for businesses seeking a well-established retail presence in a thriving Denton County market. The property's prominent positioning on major roadways guarantees high visibility and accessibility for customers. With its diverse suite sizes and ample available space, The Colony Plaza presents a compelling investment opportunity for businesses of all scales. The convenient location and high-traffic area make this a prime location for retail success. Contact us today to learn more about leasing opportunities at The Colony Plaza.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lewisville
    County
    Denton
    State
    Texas
    Longitude
    -96.9102
    Latitude
    33.0787

    Comparable in this City

    • Value Estimation by Request
      5,625 SF

      6855 Windhaven Pkwy

      Restaurants
      6855 Windhaven Pkwy, The Colony, TX 75056
      View Details
    • Value Estimation by Request
      8,160 SF

      4730 Windhaven Pkwy

      Retail properties & Spaces
      4730 Windhaven Pkwy, Lewisville, TX 75056
      View Details
    • Value Estimation by Request
      8,952 SF

      5040 Tx-121

      Restaurants
      5040 Tx-121, Lewisville, TX 75056
      View Details
    • Value Estimation by Request
      10,700 SF

      3905 State Highway 121

      Retail properties & Spaces
      3905 State Highway 121, The Colony, TX 75056
      View Details
    • Value Estimation by Request
      220,000 SF

      5701 Tx-121

      Lifestyle centers
      5701 Tx-121, The Colony, TX 75056
      View Details
    • Value Estimation by Request
      14,538 SF

      101 Castle Hl Dr

      Lifestyle centers
      101 Castle Hl Dr, Lewisville, TX 75056
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Versatile Commercial Property For Sale

      Commercial property with retail, office, and service use potential.
      2345 State Highway 121, Lewisville, TX 75056
      View Details
    • $3,500,000
      2.53 Acres

      Retail Shell Space in Lewisville

      Retail shell space available in a high-traffic Lewisville location.
      501 Old Denton Rd, Lewisville, TX 75056
      View Details
    • Contact for pricing
      3,127 SF

      Retail Investment Opportunity in Lewisville

      Retail property with a 7-year lease and annual rent increases.
      2580 Fm 544, Lewisville, TX 75056
      View Details
    • Contact for pricing
      2,118 SF

      Lewisville Flex Space For Sale

      High-end flex space in premium location, built in 2022.
      2601 E State Highway 121, Lewisville, TX 75056
      View Details
    • $1,990,000
      1.74 Acres

      Lewisville Commercial Property For Sale

      Versatile commercial property with retail, office, and service use potential.
      2345 State Highway 121, Lewisville, TX 75056
      View Details
    • Contact for pricing
      2,200 SF

      Prime Retail Corridor Freestanding Building

      Freestanding building in a dense, high-income residential area.
      5401 S Colony Blvd, The Colony, TX 75056
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      994 SF

      Retail Space in The Colony

      Retail property available for lease in The Colony, Texas.
      5201 S Colony Blvd, The Colony, TX 75056
      View Details
    • Contact for pricing
      3,500 SF

      Freestanding Building For Lease

      3,500 SF former restaurant space available for lease.
      5313 S Colony Blvd, Carrollton, TX 75056
      View Details
    • Contact for pricing
      1,914 SF

      Restaurant Endcap with Drive-Thru

      Second generation restaurant endcap with drive-thru in mixed-use development.
      2801-2851 Plano Pkwy, The Colony, TX 75056
      View Details
    • Contact for pricing
      7,837 SF

      Grandscape Retail & Restaurant Spaces

      Premier shopping, dining, and entertainment destination in North Texas.
      5740 Grandscape Blvd, The Colony, TX 75056
      View Details
    • Contact for pricing
      1,863 SF

      Retail Space in Castle Hills

      Retail space available in master-planned community in The Colony, TX.
      3517 Windhaven Pkwy, The Colony, TX 75056
      View Details
    • Contact for pricing
      4,242 SF

      Retail Space Near Multifamily Project

      Retail space available near Nebraska Furniture Mart and Toyota HQ.
      5701 State Highway 121, The Colony, TX 75056
      View Details
    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.
    State Highway 121
    Lewisville, TX 75056
    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
    State Highway 121, Lewisville, TX, 75056
    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!