1700 Alma DrPlano, TX 75075

Property Details for 1700 Alma Dr

Year built

1983

Lot size

2.67 AC

Property size (Sq ft)

84,455 SF

Zone code

CC

Property type

Office buildings

APN

R-0679-001-0010-1

APU

R067900100101

Description

This exceptional 2.4-acre land parcel in Plano, Texas, presents a prime opportunity for the development of an assisted living and memory care community. Located in the thriving north Dallas suburb of Plano, this site benefits from a robust and growing senior population, as evidenced by detailed demographic studies projecting continued high demand for senior housing in the coming years. The property is ideally situated within Collin County, at 1700 Alma Dr, Plano, TX 75075, offering convenient access to essential amenities and services. The approved plat and comprehensive community development master plan, created with the assistance of Clay Moore Engineering, significantly streamline the development process. This turnkey opportunity includes detailed renderings and engineering plans, along with a complete financial proforma and market analysis, providing a solid foundation for a successful venture. The proposed 40-unit community will offer assisted living and memory care options, catering to a diverse range of senior living needs. With an asking price of $3,500,000, this development represents a compelling investment prospect in a high-growth sector with strong projected returns. The property's ample acreage also allows for potential future expansion, further enhancing its long-term value. This is a rare chance to capitalize on the increasing demand for senior housing in a prime location within the Dallas MSA. The APN is R-1838-001-0010-1.

• CAP approach

  CAP return

  Valuation

  6%

  $18,599,236

  6.5%

  $17,168,526

  7%

  $15,942,202

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,352,519

  Geo Method

  $10,161,626

• Alternative Use

  Use

  Valuation

  Residential

  $21,288,972

  Hospitality

  $19,500,584

  Educational

  $16,224,256

  Medical

  $16,782,234

  Retail

  $25,237,732

Location Insight

City

Plano

County

Collin

State

Texas

Latitude

33.0234

Longitude

-96.7156

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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