ZONED 13.77+/- ACRE DEVELOPMENT SITE (DIVISIBLE)
Land | 13.77 acres
Marketing description
Vanguard Real Estate Advisors (“VREA”) has been exclusively retained by Ownership to offer developers and investors the opportunity to purchase all or a portion of a 13.77+/- acre 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 is made up of two components, which can be bought together or separately, the first being an 8.56+/- acre active adult development site with the second being 5.21+/- acres of commercial, that can be padded out in the future, fronting US-67 and Wintergreen Road. The active adult site comes with completed plans for a 182 unit, 3-story, 55+ age restricted community. The Seller is open to a Buyer attempting to rezone the 8.56 acres to commercial while under contract if they prefer an alternative use. The Seller will convey the following at closing: existing architectural plans, engineering plans, and select third party reports.
Pricing is as follows:
Bulk Sale Asking Price (Entire 13.77+/- Acre Site): $5,998,212 ($10PSF)
Asking Price for Back Acreage (8.56+/- Acres): $3,542,299 ($9.50PSF)
Asking Price for Retail/Commercial Frontage (5.21+/- Acres): $4,085,056 ($18.00PSF)
To gain access to the marketing brochure and full Due Diligence Vault click on the link below:
https://docsend.com/view/s/8bc35j256hc9nmk9
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 or sent information regarding this opportunity
Investment highlights
Strategic Location
· The Site is ideally located at the northwest quadrant of US Highway 67 and W. Wintergreen Road just three miles south of Interstate 20, five miles west of Interstate 35, and ten miles south of Interstate 30 allowing for easy access to the entirety of the Metroplex.
· In the immediate area are a number of national grocers, retailers, and restaurants such as Costco, Chick-fil-a, Starbucks, 7-Eleven, and more.
· Approximately 3 miles south of Methodist Charleston Medical Center, the only hospital with a Level 3 trauma center and heart failure clinic in the region.
Zoning
· The 8.56+/- acre portion is zoned through ordinance 2022-775 allowing for 182+/- units of “retirement housing” which is age restricted to 55+. The remaining 5.21+/- acres are zoned commercial/retail fronting Highway 67 and Wintergreen.
· Seller will convey a construction set of engineering and architectural plans for the planned active adult community as well as existing 3rd party reports to a Purchaser at Closing. Seller to complete preliminary plat prior to closing.
· The Buyer will have to construct the storm water drainage improvements which is estimated to cost approximately $1MM. Please note, the ability to pull building permits for this Site is contingent on a permit for 6,000 sf retail pulled prior.
· Seller will give a Buyer time to rezone the 8.56+/- acre portion. Additionally, if a Buyer purchased the entire site and intended to only develop the back acreage, the ability to sell the remaining four pad sites would be a significant upside.
· Purchaser to do their own due diligence related to zoning, permitting, and unit count.
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