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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    302 Interstate 35th Rd Red Oak, TX 75154-6212

    • Commercial real estate
    • 6,720 SF
    • 5.58 lot acres
    OFF-MARKET
    Last Sale
    Jun 20, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4750819
    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 302 Interstate 35th Rd

    Year built
    1930
    Lot size
    5.58 lot acres
    Property size
    6,720 SF
    Property type
    Commercial real estate
    APN
    72.0161.000.002.00.111
    APU
    72016100000200111

    Description

    This exceptional 5.58-acre commercial land parcel, located at 302 S. Interstate 35 E in Red Oak, Texas (zip code 75154), presents a unique investment opportunity. Currently zoned for commercial use, the property includes a 6,720 square foot building slated for demolition by year's end, offering a blank canvas for development. The property's advantageous location directly on the Interstate 35 service road ensures high visibility and accessibility, making it ideal for a variety of commercial ventures. The Ellis County location provides easy access to major transportation routes, enhancing its appeal to businesses seeking a strategic location. The APN is 180870. Note that the city of Red Oak now mandates rezoning for this property. This presents a chance to shape the future of this prominent site, tailoring it to your specific business needs. The asking price for this significant land holding is $2,000,000. The property is offered for sale by owner. This is a rare opportunity to acquire a substantial commercial property in a rapidly growing area. Don't miss out on this chance to secure a prime location with significant development potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Red Oak
    County
    Ellis
    State
    Texas
    Longitude
    -96.8204
    Latitude
    32.5139
    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
    $16,612
    $800,557
    $0.00
    $800,557
    -
    $800,557
    $0.00
    $800,557

    Comparable in this City

    • Value Estimation by Request
      12.50 Acres

      Red Oak Texas 75154 Pierce Rd

      Farms • 12.50 Acres
      Red Oak Texas 75154 Pierce Rd, Red Oak, TX 75154
      View Details
    • Value Estimation by Request
      5.14 Acres

      1908 Hampton Rd

      COMMERCIAL (GENERAL) • 5.14 Acres
      1908 Hampton Rd, Glenn Heights, TX 75154-8534
      View Details
    • Value Estimation by Request
      0.03 Acres

      Ovilla Rd

      COMMERCIAL (GENERAL) • 0.03 Acres
      Ovilla Rd, Red Oak, TX 75154
      View Details
    • Value Estimation by Request
      0.16 Acres

      1623 Westmoreland Rd

      COMMERCIAL (GENERAL) • 0.16 Acres
      1623 Westmoreland Rd, Glenn Heights, TX 75154-8718
      View Details
    • Value Estimation
      $1,305,000
      29,465 SF

      119 Ovilla Rd

      COMMERCIAL (GENERAL) • 29,465 SF
      119 Ovilla Rd, Glenn Heights, TX 75154-2388
      View Details
    • Value Estimation
      $2,895,000
      26,547 SF

      132 Ovilla Rd

      COMMERCIAL (GENERAL) • 26,547 SF
      132 Ovilla Rd, Red Oak, TX 75154-2460
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.11 Acres

      Prime Red Oak Commercial Land

      I-35E Frontage, Walmart Adjacent
      100 Ryan Dr, Red Oak, TX 75154
      View Details
    • Contact for pricing
      1.83 Acres

      Red Oak TX Commercial Land Pad Site

      1.83 Acres, Prime Commercial Location
      205 Main St, Red Oak, TX 75154
      View Details
    • Contact for pricing
      70.78 Acres

      Red Oak Commercial Land

      ±70 Acres I-35E Frontage, Texas
      I-35E Red Oak Rd, Red Oak, TX 75154
      View Details
    • Contact for pricing
      8.70 Acres

      Prime Ovilla Rd. Commercial Land

      8.7 Acres, Divisible, Hard Corner
      0 Westmoreland Rd, Red Oak, TX 75154
      View Details
    • $1,678,280
      9.63 Acres

      Springfield Business Park: Prime Red Oak Land

      9.63 Acres, US 77 Frontage, Commercial/Light Industrial
      101 Free Market Dr, Red Oak, TX 75154
      View Details
    • Contact for pricing
      9.00 Acres

      Glenn Heights Retail Land Opportunity

      9 Acres, Retail Zoning, High Growth Area
      0 Hampton Rd & Ovilla Rd, Glenn Heights, TX 75154
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,000 SF

      Retail Space For Lease

      Retail space available for lease in Glenn Heights, Texas.
      1308 E Bear Creek Rd, Glenn Heights, TX 75154
      View Details
    • Contact for pricing
      10,000 SF

      Red Oak Ranch Center Retail Space

      Prime Retail Space, Multi-Tenant Center, Ovilla Road
      242 Ovilla Rd, Red Oak, TX 75154
      View Details
    • Contact for pricing

      Land for Rent

      Land available for rent in Red Oak, Texas.
      105 Pierce Rd, Red Oak, TX 75154
      View Details
    • Contact for pricing
      53,709 SF

      Red Oak Retail Pad Site

      High-growth location, 1.23 acres, ready to build.
      680 Ovilla Rd, Red Oak, TX 75154
      View Details
    • Contact for pricing
      1,250 SF

      Red Oak Retail Center Space

      Multi-building retail center with drive-thru, near Red Oak High.
      205 S Main St, Red Oak, TX 75154
      View Details
    • $18 SF/Yr
      14,084 SF

      Red Oak Office Space Available

      Office space for lease in Red Oak, Texas.
      420 Century Way, Red Oak, TX 75154
      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.
    302 Interstate 35th Rd
    Red Oak, TX 75154-6212
    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.