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    3619 S Oak Grove Rd Ennis, TX 75119
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    3619 S Oak Grove Rd Ennis, TX 75119

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    • Land
    For Sale
    $5,411,461
    View Listing →
    Highway 287 Land Opportunity For Sale
    $5,411,461

    Highway 287 Land Opportunity

    Large property in Ennis, TX, with light industrial potential.

    3619 S Oak Grove Rd, Ennis, TX 75119
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    Property ID
    US82-6462037
    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

    • Land

    Property Details for 3619 S Oak Grove Rd

    Property type
    Land

    Description

    Large property on Highway 287 in the City of Ennis. The east side of the property is at the corner of Oak Grove Road and Highway 287. Zoned agricultural, but the zoning recommendation updated from the City of Ennis is light industrial. There are many industrial businesses in the area, but also new retail and residential housing. Part of this property, at the rear, is in a flood zone.

    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
    Ennis
    County
    Ellis
    State
    Texas
    Longitude
    -96.604418
    Latitude
    32.289694

    Comparable in this City

    • $150,000
      1.62 Acres

      Land For Sale in Alma

      1.618 acre land available for sale in Alma, Texas.
      300 Martinez Rd, Ennis, TX 75119
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    • $600,000
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      Unimproved Land in Ennis, Texas

      1.027 acre of unimproved land for sale in Ennis, TX.
      913 S Clay St, Ennis, TX 75119
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    • $175,000
      5.35 Acres

      Wooded Land with Creek

      Secluded 5+ acre wooded land with creek in Ennis.
      0000 Sandswitch Rd, Ennis, TX 75119
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    • $1,195,000
      51.12 Acres

      50+ Acres of Unimproved Land

      Over 50 acres of land ready for development in Ennis, TX.
      000 Sleepy Hollow Rd, Ennis, TX 75119
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      508 E Ennis Ave, Ennis, TX 75119
      View Details
    • $197,300
      11.10 Acres

      Ennis, TX Unimproved Land

      11.1 acres of land with road frontage and trees.
      11.10Ac-Tr7 Sandswitch Rd, Ennis, TX 75119
      View Details

    Similar Nearby for Sale

    • $1,195,000
      51.12 Acres

      50+ Acres of Unimproved Land

      Over 50 acres of land ready for development in Ennis, TX.
      000 Sleepy Hollow Rd, Ennis, TX 75119
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      508 E Ennis Ave, Ennis, TX 75119
      View Details
    • $197,300
      11.10 Acres

      Ennis, TX Unimproved Land

      11.1 acres of land with road frontage and trees.
      11.10Ac-Tr7 Sandswitch Rd, Ennis, TX 75119
      View Details
    • $150,000
      1.62 Acres

      Land For Sale in Alma

      1.618 acres of land available in Alma, Texas.
      308 Martinez Rd, Ennis, TX 75119
      View Details
    • $175,000
      5.35 Acres

      Wooded Land in Ennis, Texas

      Secluded 5+ acre wooded lots with creek near Ennis.
      0000 Sandswitch Rd, Ennis, TX 75119
      View Details
    • $2,880,000

      Land For Sale in Bristol

      Land available north of Bristol, Texas, off FM 660.
      000 Fm 660, Ennis, TX 75119
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    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land Near Walmart

      0.622 acre commercial land with access to Ennis Ave.
      509 E Knox St, Ennis, TX 75119
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      Prime Pad Site in Ennis

      High-visibility commercial land in a growing commercial corridor.
      1305 E Ennis Ave, Ennis, TX 75119
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    • $1.00 SF/Yr
      762,300 SF

      Alma, TX Land For Lease

      17.5 acres with I-45 frontage, flexible lease options.
      45 Service Rd, Ennis, TX 75119
      View Details
    • $2,500 /Mo
      21,562 SF

      Commercial Office Space in Ennis, TX

      Commercial office space in Ennis, TX with flexible options.
      2103 S Kaufman St, Ennis, TX 75119
      View Details
    • Contact for pricing

      Commercial Property for Lease

      Commercial property available for lease in Ennis, Texas.
      1011 E Ennis Ave, Ennis, TX 75119
      View Details
    • Contact for pricing
      10,286 SF

      Adaptable Flex Space in Ennis

      10,286 SF flex space available for lease in Ennis, TX.
      1301 S Kaufman St, Ennis, TX 75119
      View Details
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    3619 S Oak Grove Rd
    Ennis, TX 75119
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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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