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OB Groner Road 220.04 Acres of Commercial Land Offered at $19,950,000 in Sherman, TX 75092
Investment Highlights
- The Site is situated a quarter mile west of Heritage Parkway (FM 1417), two miles west of US 75, and just over a mile south of Highway 56.
- Approximately half a mile east of the Site, Brightland Homes is selling homes in their Pebblebrook community up to $419,990.
- The Site is zoned in the "Greenway" Planned Development (PD – 6690 & 6689).
- The Site is less than half a mile to Sherman High School which opened in 2021.
- The Site is approximately 2.5 miles west of the intersection of FM 1417 and US 75 which boasts several retailers and restaurants.
- The permitted uses allowed per the PD Ordinance include: Single Family (40’ lots, 50’ lots & 60’ lots), Townhomes, Multifamily (MF-30), and Commercial
Property Facts
| Price | $19,950,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 220.04 AC |
| Property Type | Land | ||
| Zoning | Planned Development | ||
| Price | $19,950,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 220.04 AC |
| Zoning | Planned Development |
1 Lot Available
Lot
| Price | $19,950,000 | Lot Size | 220.04 AC |
| Price Per AC | $90,665.33 |
| Price | $19,950,000 |
| Price Per AC | $90,665.33 |
| Lot Size | 220.04 AC |
Description
Vanguard Real Estate Advisors (“VREA”) has been exclusively retained by Ownership to present the opportunity to purchase a 220+/- acre master planned community called Greenway, located along OB Groner Road in Sherman, TX (“the Site”). The Site is zoned under the Greenway planned development, allowing for a mix of commercial, single family, townhomes, and multifamily. The current Concept Plan shown on page 3 contemplates 808 residential lots, 773 multifamily units, and 16.4+/- acres of retail space. Ideally located approximately 2 miles west of US Highway 75 and less than a 10-minute drive to the new GlobiTech and Texas Instruments facilities, this is a great opportunity to acquire a Site with high density entitlements in one of the fastest growing markets in North Texas. Ownership would consider subdividing the Site. One option Ownership would consider is selling the Phase 1, 235 single family units that can currently be served by the existing 12" wastewater line (see Will Serve letter in Due Diligence Vault).
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $9,581 | Total Assessment | $9,581 |
Property Taxes
Contacts
-
Jordan Cortez -
Justin Tidwell -
Mason John -
Haley Birmingham -
Will Droese -
Reid Pierce -
Alex Johnson -
Vanguard Real Estate Advisors
Presented by
OB Groner Road
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