Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1620 State Hwy 121bus Lewisville, TX 75056-4800

    • Commercial real estate
    • 27,300 SF
    • 5.13 lot acres
    OFF-MARKET
    Last Sale
    Dec 16, 2021
    Value Estimations
    $1,825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1964106
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1620 State Hwy 121bus

    Year built
    1995
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.13 lot acres
    Property size
    27,300 SF
    Property type
    Commercial real estate
    APN
    R180598
    APU
    R180598

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,135,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,512,000
      Market price range: $1.00M - $2.91M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,015,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewisville
    County
    Denton
    State
    Texas
    Longitude
    -96.949
    Latitude
    33.0461
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $121,602
    $1,341,036
    $6,384,644
    $7,725,680
    -
    $1,341,036
    $6,384,644
    $7,725,680

    Comparable in this City

    • Value Estimation by Request
      5,625 SF

      6855 Windhaven Pkwy

      Restaurants • 5,625 SF
      6855 Windhaven Pkwy, The Colony, TX 75056
      View Details
    • Value Estimation
      $615,000
      42.06 Acres

      4420 State Hwy 121

      COMMERCIAL (GENERAL) • 42.06 Acres
      4420 State Hwy 121, Lewisville, TX 75056-4560
      View Details
    • Value Estimation by Request
      3.08 Acres

      Castle Hls Dr

      COMMERCIAL (GENERAL) • 3.08 Acres
      Castle Hls Dr, The Colony, TX 75056
      View Details
    • Value Estimation by Request
      2.33 Acres

      101 Castlehill Dr

      COMMERCIAL (GENERAL) • 2.33 Acres
      101 Castlehill Dr, The Colony, TX 75056-7099
      View Details
    • Value Estimation by Request
      0.30 Acres

      Bargain Way

      COMMERCIAL (GENERAL) • 0.30 Acres
      Bargain Way, The Colony, TX 75056
      View Details
    • Value Estimation by Request
      0.34 Acres

      The Colony, TX 75056

      COMMERCIAL (GENERAL) • 0.34 Acres
      The Colony, TX 75056
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2.14 Acres

      The Colony Retail Land Opportunity

      Prime 2.14-acre retail site in The Colony, TX.
      0 Neq - Main St & Overlake Dr, The Colony, TX 75056
      View Details
    • $249,900

      The Colony Commercial Land Investment

      Prime Commercial Land, High Traffic Area
      7545 Main St, The Colony, TX 75056
      View Details
    • Contact for pricing

      Prime Land in The Colony

      0.62 AC site with build-to-suit opportunity.
      3712 Standridge Dr, The Colony, TX 75056
      View Details
    • $601,367
      1,987 SF

      New Chelsea Green Townhouse

      Contemporary townhouse in The Tribute, ready now!
      1240 Armstrong Dr, Frisco, TX 75056
      View Details
    • $599,000
      7.66 Acres

      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
    • $519,800
      0.08 Acres

      Duplex in The Colony, TX

      Duplex with rental potential in a high-demand location.
      6078 Dooley Dr, The Colony, TX 75056
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      33,416 SF

      The Colony Plaza Retail Space

      High-traffic retail space, Denton County.
      0 State Highway 121, Lewisville, 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
      16,067 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
      141,500 SF

      The Colony Warehouse Space

      141,500 sqft warehouse space available for lease.
      4001 Main St, The Colony, TX 75056
      View Details
    • Contact for pricing
      2,919 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
    • $14 SF/Yr
      21,500 SF

      SRT 121 Lewisville Retail Space

      High-visibility retail space, flexible suites.
      2455 Business, Lewisville, 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.
    1620 State Hwy 121bus
    Lewisville, TX 75056-4800
    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

    Google sign-in failed. Please try again or use another login method.