2801 Texoma Pky - Former Sher-Den Mall site 1.01 - 30.34 Acre Commercial Land Lots Offered at $1,328,527 - $17,843,099 CAD Per Lot in Sherman, TX 75090
INVESTMENT HIGHLIGHTS
- Property is located in a qualified opportunity zone - defer and eliminate capital gains taxes for commercial real estate investors
- Developer will parcel off ideal size tracts for users and investors
- QuickTrip gas station and Club Car Wash have recently purchased pad sites at this development
- Multi Family Development site pre-approved by City Council for 730 Multifamily units
- Additional curb cuts and median breaks are available off Texoma Parkway
- QuickTrip gas station under construction currently on the hard corner.
EXECUTIVE SUMMARY
PROPERTY FACTS
2 LOTS AVAILABLE
Lot 1
| Price | $17,843,099 CAD |
| Price Per AC | $588,104.77 CAD |
| Lot Size | 30.34 AC |
44.26 acres of land net in the Reuben Hendrix Survey, Abstract No. 504, Grayson County, Texas; and being in the City of Sherman, Texas. Addressed by the City of Sherman generally as 3201 Texoma Parkway. Grayson County Parcel # 154909, 154913, 154914
Lot 1
| Price | $1,328,527 CAD |
| Price Per AC | $1,315,373.51 CAD |
| Lot Size | 1.01 AC |
1 acre pad site. Located in a qualified opportunity zone - meant to encourage development by deferring and eliminate capital gains for commercial real estate investors.
DESCRIPTION
Former Sher-Den mall redevelopment in Sherman, TX. Strategically located in the heart of regional population and major thoroughfares. Located in a Qualified Opportunity Zone which can defer and/or eliminate capital gains taxes for commercial real estate investors. Prime location for investment or development of multiple uses. Pre-approved permitted multi family site plan in place for 730 apartments. QuickTrip, Club Car Wash and Grandys have already closed on pad sites at this development. Total of 44.26 acres of land. Extensive highway and surface street frontage. Texas instruments is under construction on a $30 billion semiconductor wafer fabrication plan with 3,000 new jobs (largest economic development investment in Texas). Globitech is brining 1,500 new jobs and $5 Billion in new investment. Apple (Finisar) is investing in a fab plant as well. Property can be easily divided into pad sites for office, retail, restaurants and apartments. Pricing dependent on size and pad site location. Prime location positioned to take advantage of the rapid growth North from the DFW metroplex, which is located 30 minutes to the South. This site offers quick and convenient access to Texoma Parkway and Hwy 82. All utilities are available to the site - water, sewer, electric, storm sewer, spine roads, etc. Rapid population growth of 10% annually since 2010. Solid future development potential based on location, superior infrastructure and major employers expanding rapidly.
PROPERTY TAXES
| Parcel Number | 154913 | Improvements Assessment | $0 CAD |
| Land Assessment | $4,017,248 CAD | Total Assessment | $4,017,248 CAD |
ZONING
| Zoning Code | C-2 (commercial zoning which supports a wide variety of uses at this development) |
