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1497 N J Elmer Weaver Fwy - Zoned Active Adult Development Site 8.56 Acres of Residential Land Offered at $3,549,000 in Cedar Hill, TX 75104
INVESTMENT HIGHLIGHTS
- The 8.56+/- acre Site is ideally located at the northwest quadrant of US Highway 67 and W. Wintergreen Road just three miles south of Interstate 20.
- The Buyer will have to construct the storm water drainage improvements which is estimated to cost approximately $1MM.
- Active adult rent comparables within a 15 mile radius are achieving market rents up to $2.21 psf.
- The Site is zoned through ordinance 2022-775 allowing for 182+/- units of “retirement housing” which is age restricted to 55+.
- Per the US Census Bureau, the population of Cedar Hill grew by 1.31% between 2020 and 2021 from 48,337 to 48,968.
- In the immediate area are a number of national grocers, retailers, and restaurants such as Costco, Chick-fil-a, Starbucks, 7-Eleven, and more.
EXECUTIVE SUMMARY
Vanguard Real Estate Advisors (“VREA”) has been exclusively retained by Ownership to offer developers and investors the opportunity to purchase an 8.56+/- acre entitled active adult development site located at the northwest quadrant of W. Wintergreen Road and US Highway 67 in rapidly growing Cedar Hill, TX just minutes south of the Dallas CBD (the “Site”). The Site comes with completed plans for a 182 unit, 3-story, 55+ age restricted community. The Seller will convey the following at closing: existing architectural plans, engineering plans, and select third party reports. The Site is 8.56+/- acres out of a larger 13.75+/- acre site which is set to have retail fronting US Highway 67 and Wintergreen Road, through which the Site will be accessible. This is an excellent opportunity to acquire a Site at a reduced price of $19,500 per developable unit, down from $23,764 per unit.
A 2% co-broker fee is available to a Co-Broker that sources a Principal that VREA has not previously contacted in any format or sent information regarding this opportunity.
A 2% co-broker fee is available to a Co-Broker that sources a Principal that VREA has not previously contacted in any format or sent information regarding this opportunity.
PROPERTY FACTS Under Contract
| Price | $3,549,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Commercial |
| No. Lots | 1 | Total Lot Size | 8.56 AC |
| Property Type | Land | ||
| Zoning | Zoned 2022-755 - The Site is zoned through ordinance 2022-775 allowing for 182+/- units of “retirement housing” which is age restricted to 55+. | ||
| Price | $3,549,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Commercial |
| Total Lot Size | 8.56 AC |
| Zoning | Zoned 2022-755 - The Site is zoned through ordinance 2022-775 allowing for 182+/- units of “retirement housing” which is age restricted to 55+. |
1 LOT AVAILABLE
Lot
| Price | $3,549,000 | Lot Size | 8.56 AC |
| Price Per AC | $414,602.80 |
| Price | $3,549,000 |
| Price Per AC | $414,602.80 |
| Lot Size | 8.56 AC |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $1,438,330 | Total Assessment | $1,438,330 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,438,330
Improvements Assessment
$0
Total Assessment
$1,438,330
CONTACTS
-
Jordan Cortez -
Mason John -
Justin Tidwell -
Will Droese -
Reid Pierce -
Haley Birmingham -
Alex Johnson -
Tim Marron -
Vanguard Real Estate Advisors
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1497 N J Elmer Weaver Fwy - Zoned Active Adult Development Site
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