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    526 Wallenridge St Keene, TX 76059
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    526 Wallenridge St Keene, TX 76059

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    • Commercial land
    • 215,055 SF
    For Sale
    $299,500
    View Listing →
    Unimproved Land - Keene, TX For Sale
    $299,500

    Unimproved Land - Keene, TX

    Almost 5 acres with frontage in area of rapid development.

    526 Wallenridge St, Keene, TX 76059
    View Listing
    Property ID
    US82-7932368
    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

    • Commercial land

    Property Details for 526 Wallenridge St

    Property size
    215,055 SF
    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    LOCATION. VISIBILITY. POTENTIAL. ALLSUPS COMPLETED RECENTLY NEARBY. Almost 5 acres with 420 feet of frontage located in an area of rapid development. City Water and Sewer available at the front of this property. This properties current Zoning offers Commerical in front with Residential in back. Apply to the City of Keene for rezoning for your desired needs. So many options for you to bring your development or commercial plans. Located just off of highway 67 with high daily traffic count. Next to recently completed subdivision of over 120 John Houston homes. Just down the road from Johnson Counties only 4 year University, Southwestern Adventist University. All offers to be submitted by 12 Noon March 7, 2025.

    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
    Keene
    County
    Johnson
    State
    Texas
    Longitude
    -97.330592
    Latitude
    32.386227

    Comparable in this City

    • $299,500
      4.94 Acres

      Keene, TX Unimproved Land

      Almost 5 acres with frontage in area of rapid development.
      526 Wallenridge St, Keene, TX 76059
      View Details
    • $1,248,000
      35.68 Acres

      35.68 Acres in Keene, TX

      35.68 acres of unimproved land with frontage on Old Mansfield Rd.
      104 S Old Mansfield Rd, Keene, TX 76059
      View Details
    • $295,000
      0.26 Acres

      Highway Frontage Business Location

      Unique property with highway frontage, ideal for various business ventures.
      212 E 67 Hwy, Keene, TX 76059
      View Details
    • $265,000
      1,520 SF

      Highway 67 Keene Commercial Property

      Versatile Keene commercial space, high visibility.
      212 67 Hwy, Keene, TX 76059
      View Details
    • $450,000
      2.03 Acres

      Keene TX Development Land

      2.026 acre corner lot suitable for multifamily development.
      105 W 4Th St, Keene, TX 76059
      View Details
    • $245,000
      0.28 Acres

      Keene Quadruplex Near University

      Quadruplex near Southwestern Adventist University, great rental income potential.
      108 E Maple St, Keene, TX 76059
      View Details

    Similar Nearby for Sale

    • $299,500
      4.94 Acres

      Keene, TX Unimproved Land

      Almost 5 acres with frontage in area of rapid development.
      526 Wallenridge St, Keene, TX 76059
      View Details
    • $1,248,000
      35.68 Acres

      35.68 Acres in Keene, TX

      35.68 acres of unimproved land with frontage on Old Mansfield Rd.
      104 S Old Mansfield Rd, Keene, TX 76059
      View Details
    • $295,000
      0.26 Acres

      Highway Frontage Business Location

      Unique property with highway frontage, ideal for various business ventures.
      212 E 67 Hwy, Keene, TX 76059
      View Details
    • $265,000
      1,520 SF

      Highway 67 Keene Commercial Property

      Versatile Keene commercial space, high visibility.
      212 67 Hwy, Keene, TX 76059
      View Details
    • $450,000
      2.03 Acres

      Keene TX Development Land

      2.026 acre corner lot suitable for multifamily development.
      105 W 4Th St, Keene, TX 76059
      View Details
    • $245,000
      0.28 Acres

      Keene Quadruplex Near University

      Quadruplex near Southwestern Adventist University, great rental income potential.
      108 E Maple St, Keene, TX 76059
      View Details
    View Listing
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    Keene, TX 76059
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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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