Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Of Lakeview Pkwy Rowlett, TX 75040
    Back to Search
    Property profile & analytics

    Of Lakeview Pkwy Rowlett, TX 75040

    View on Map
    • Land
    • 8.40 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Of Lakeview Pkwy

    Lot size
    8.40 lot acres
    Property type
    Land

    Description

    This exceptional 8.4-acre commercial land parcel presents a compelling investment opportunity in Garland, Texas. Strategically located on Centerville Road, north of Lakeview Parkway (US Hwy 66), between Castle Drive and Lakeview Parkway in Northeast Garland, this property boasts 1,346 feet of prime road frontage. Currently zoned for retail use (SC), it offers significant development potential despite its current floodplain location. A 2007 engineering report indicates that only approximately 11% of the property falls within the floodway, suggesting a manageable reclamation project. The report, available upon request, details the feasibility of mitigating floodplain issues. The land is generally level, requiring an estimated 3.5 feet of fill in areas designated for construction. Priced aggressively at $922,500, this property represents a rare chance to acquire a substantial tract in a strong market, ideal for redevelopment and poised for significant return on investment. The Springfield JV holds ownership. The property's address is Centerville Road, Garland, TX 75040.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rowlett
    County
    Dallas
    State
    Texas
    Longitude
    -96.597
    Latitude
    32.9137

    Comparable in this City

    • Value Estimation by Request
      1.42 Acres

      4890 Tx-190

      Land • 1.42 Acres
      4890 Tx-190, Garland, TX 75040
      View Details
    • Value Estimation by Request
      0.59 Acres

      3900 Garland Ave

      Land • 0.59 Acres
      3900 Garland Ave, Garland, TX 75040
      View Details
    • Value Estimation by Request
      4.25 Acres

      Centerville Rd At Firewheel Pkwy

      Land • 4.25 Acres
      0 Centerville Rd At Firewheel Pkwy, Garland, TX 75040
      View Details
    • Value Estimation by Request
      5.00 Acres

      Firewheel Pkwy

      Land • 5.00 Acres
      0 Firewheel Pkwy, Garland, TX 75040
      View Details
    • Value Estimation by Request
      5.92 Acres

      & TX-66 Nwq Centerville Rd

      Land • 5.92 Acres
      & TX-66 Nwq Centerville Rd, Garland, TX 75040
      View Details
    • Value Estimation by Request

      Basswood Trl

      Land
      0 Basswood Trl, Garland, TX 75040
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land Available in Garland, Texas

      Land for sale at 301 Country Club Rd, Garland, TX
      301 Country Club Rd, Garland, TX 75040
      View Details
    • $1,999,000
      5,406 SF

      Garland Commercial Property Investment

      High-traffic location, versatile building, great visibility.
      136 Lavon Dr, Garland, TX 75040
      View Details
    • $500,000
      67,953 SF

      Commercial Lot on Busy Corner

      1.56 acre commercial lot on Belt Line and Crist.
      2105 Crist Rd, Garland, TX 75040
      View Details
    • $120,000
      0.15 Acres

      Land Near Downtown Garland

      Unimproved land near Downtown Garland and Central Park.
      1312 W Ave Ave E, Garland, TX 75040
      View Details
    • $500,000
      0.24 Acres

      Garland Retail Development Opportunity

      Two commercial lots for development or redevelopment in prime location.
      500 Ford St, Garland, TX 75040
      View Details
    • Contact for pricing
      15,414 SF

      Commercial Land Available

      Commercial land available for sale.
      1101 Main St, Garland, TX 75040
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      High Profile Retail Land Available

      Retail space and land/pad sites available with excellent visibility.
      2924 Pleasant Valley Rd, Sachse, TX 75040
      View Details
    • Contact for pricing

      Prime Retail Space in Garland

      High-visibility retail space at a busy, signalized intersection.
      1138 Belt Line Rd, Garland, TX 75040
      View Details
    • Contact for pricing
      5,105 SF

      Firewheel Town Center Office Space

      Office space in a live-work-play-shop destination in Garland, TX.
      610-690 Beebalm Ln, Garland, TX 75040
      View Details
    • Contact for pricing
      2,915 SF

      Retail Space Near Firewheel Center

      Retail space with excellent access and visibility on Hwy 190.
      3051-3171 N President George Bush Hwy, Garland, TX 75040
      View Details
    • Contact for pricing
      1,324 SF

      Retail Space in Firewheel Market

      Retail space with high visibility and easy access.
      4720 Lavon Dr, Garland, TX 75040
      View Details
    • Contact for pricing
      1,136 SF

      Retail Space in Garland Center

      Retail space available in a Target-anchored shopping center.
      5435 N Garland Ave, Garland, TX 75040
      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.
    Of Lakeview Pkwy
    Rowlett, TX 75040
    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
    Of Lakeview Pkwy, Rowlett, TX, 75040
    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!