15405 SHEPHERD RD
About This Property
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 2, 2025 | No longer available | - | |
| No longer available | |||
| Jan 12, 2025 | Listed by Millennia Realty | $550,000 | |
| Listed by Millennia Realty | |||
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This 21-acre parcel offers a prime development opportunity less than a mile from IH-35 along Shepherd Road, with easy interstate access. Featuring 664 feet of frontage and 1,500 feet of depth, the flat, usable land is ready for a variety of projects, with water, electricity, and an onsite septic system in place. Zoned for both commercial and residential use, the property is fully fenced and combines open land with areas of dense trees, providing flexibility for different development options. Ideal for a storage yard (vehicles, jet boats, or onsite storage), a depot for shipping containers, fleet operations, or a residential community, it can also accommodate a single-family residence offering privacy and an owner-preferred customizable layout. Conveniently located within minutes of driving from shopping, groceries, restaurants, and medical facilities, this property provides both accessibility and potential. Don't miss this excellent opportunity for industrial or residential development.
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| Mar 19, 2013 | Sold | ||
| Sold | |||
| Oct 11, 2012 | Listed by JVL Real Estate | $250,000 | |
| Listed by JVL Real Estate | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017