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    1231 Justin Rd Lewisville, TX 75077
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    1231 Justin Rd Lewisville, TX 75077

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    • Commercial land
    For Lease
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    Pad Site Near Interstate 35E For Lease
    Contact for pricing

    Pad Site Near Interstate 35E

    0.80 acre pad site near QuikTrip and Popeyes.

    1231 Justin Rd, Lewisville, TX 75077
    View Listing
    Property ID
    US83-2121585
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • QuikTrip / Gas Station
    • ATM (Quik Trip) / Atm

    Property Details for 1231 Justin Rd

    Property type
    Commercial land
    Property subtype
    Retail properties & Spaces

    Description

    0.80 acre pad site adjacent to QuikTrip and a new construction Popeyes Louisiana Kitchen with cross access to the signalized intersection of FM 407 (Justin Rd) and Summit Ave. Located within close proximity to Interstate 35E, the site is well positioned to capture both highway traffic as well as commuting traffic due to FM 407 being a primary thoroughfare connection between Lewisville, Highland Village, and Flower Mound.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lewisville
    County
    Denton
    State
    Texas
    Longitude
    -97.025179
    Latitude
    33.07193

    Comparable in this City

    • Contact for pricing

      Lewisville Commercial Building For Rent

      Commercial building in Lewisville, TX, suitable for various uses.
      1702 Fm 407, Lewisville, TX 75077
      View Details
    • Contact for pricing

      Commercial Land in High-Demand Market

      High-visibility commercial land in a high-demand market.
      1951 N Summit Ave, Lewisville, TX 75077
      View Details
    • Contact for pricing

      1.78 Acres Commercial Land

      1.78 acres of commercial land for lease.
      Barnett Blvd, Highland Village, TX 75077
      View Details
    • Contact for pricing
      10,706 SF

      Retail Space Available For Rent

      Retail space available for rent, spanning 10,706 square feet.
      1504 North Garden Ridge Blvd, Lewisville, TX 75077
      View Details
    • Contact for pricing
      2,000 SF

      New Retail Strip Center Space

      Newly constructed retail space in Lewisville, Texas available for lease.
      1505 Justin Rd, Lewisville, TX 75077
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Walmart Market

      Retail space in a high-traffic shopping center with drive-thru.
      1511 Justin Rd, Lewisville, TX 75077
      View Details

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      Highland Village Land For Sale

      Premium 0.75 acre property near FM 407 in Highland Village.
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      Highland Village Retail Land Opportunity

      Prime location suitable for retail, medical, or office development.
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    • $3,100,000
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      Prime Development Site in Lewisville

      Highly visible 4.848-acre property ideal for multifamily development.
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      2.57 Acres Commercial Land Available

      2.57 acres near Lewisville and Flower Mound border.
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    • $899,000
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      Highland Village Office with Upgrades

      Office space featuring glass partitions, kitchen, game room, and upgrades.
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      Highland Village Office Condo For Sale

      Office condo in Highland Village near shops and amenities.
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    Similar Nearby for Lease

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      Lewisville Commercial Building For Rent

      Commercial building in Lewisville, TX, suitable for various uses.
      1702 Fm 407, Lewisville, TX 75077
      View Details
    • Contact for pricing

      Commercial Land in High-Demand Market

      High-visibility commercial land in a high-demand market.
      1951 N Summit Ave, Lewisville, TX 75077
      View Details
    • Contact for pricing

      1.78 Acres Commercial Land

      1.78 acres of commercial land for lease.
      Barnett Blvd, Highland Village, TX 75077
      View Details
    • Contact for pricing
      10,706 SF

      Retail Space Available For Rent

      Retail space available for rent, spanning 10,706 square feet.
      1504 North Garden Ridge Blvd, Lewisville, TX 75077
      View Details
    • Contact for pricing
      2,000 SF

      New Retail Strip Center Space

      Newly constructed retail space in Lewisville, Texas available for lease.
      1505 Justin Rd, Lewisville, TX 75077
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Walmart Market

      Retail space in a high-traffic shopping center with drive-thru.
      1511 Justin Rd, Lewisville, TX 75077
      View Details
    View Listing
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    1231 Justin Rd
    Lewisville, TX 75077
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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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