2043 Shiloh Rd Tyler, TX 75703

This exceptional 14.64-acre land parcel presents a remarkable opportunity for multifamily development in Tyler, Texas. Located at 2043 Shiloh Rd, Smith County, this property boasts a coveted PMF (Planned Multifamily Residential) zoning designation and an approved site plan for a 223-unit complex, translating to a density of 15.23 units per acre. The site plan is available for review during due diligence. Strategically situated less than a mile west of Troup Highway (110), approximately 1.5 miles east of Broadway Avenue, and less than a mile south of Loop 323, this location offers excellent access to major thoroughfares and is conveniently close to Broadway Square mall and the city's main retail corridor. Existing utilities are readily available, simplifying the development process. The property benefits from a low property tax millage rate of 1.744450 (verification recommended during due diligence). Tyler, the county seat of Smith County, is experiencing significant growth, with an estimated population of 107,192, representing a notable increase from 2020. The Tyler MSA boasts a population exceeding 237,000 and continues to expand. CoStar data indicates a substantial 32% increase in average rent per square foot in Tyler from 2017 to 2023, with projected growth of 3.5% over the next year. The asking price is $1,750,000, representing a compelling value of $2.74 per square foot. This is an exceptional investment opportunity in a thriving East Texas market. The APN is R097680. The zip code is 75703.