2951 Ridgeway DrCorsicana, TX 75109

Property Details for 2951 Ridgeway Dr

Year built

2010

Lot size

0.65 AC

Property size (Sq ft)

1,984 SF

Property type

Commercial real estate

APN

65831

APU

65831

Description

This exceptional Class A retail property, located at 2951 Ridgeway Dr, Corsicana, TX 75109, presents a unique investment opportunity. The 1,984 square foot building, constructed in 2010, sits on a 0.65-acre lot and is zoned for commercial use. Its ideal location at the intersection of I-45 and Hwy 287 offers unparalleled visibility and accessibility, benefiting from the high traffic volume associated with this major thoroughfare. The property's strategic position provides easy access to the rapidly expanding Richland Chambers lake community. This turnkey QSR/Restaurant boasts a convenient drive-thru, making it an attractive option for a variety of food service businesses. The building's existing infrastructure and design are well-suited for immediate occupancy, minimizing upfront investment and maximizing return. The asking price is $599,000. This property is situated in a thriving commercial area, surrounded by established national brands including Chick-fil-A, Starbucks, Taco Bell, Sonic, Denny's, Wendy's, Schlotzsky's, Whataburger, Hampton Inn, Holiday Inn, and Panda Express, indicating a strong and diverse customer base. This presents a compelling opportunity for owner-operators and investors seeking a high-traffic, established location within a successful commercial environment. The single-unit building offers a streamlined operational model, simplifying management and maximizing efficiency.

• CAP approach

  CAP return

  Valuation

  6%

  $383,495

  6.5%

  $353,996

  7%

  $328,710

• Comparable approach

  Method

  Valuation

  Relative Method

  $216,486

  Geo Method

  $593,990

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $691,708

  Retail / Commercial

  $355,728

  Mixed-Use / Specialty

  $355,266

  Hospitality / Lodging

  $261,698

  Office

  $353,996

  Institutional / Educational

  $369,622

  Residential Income

  $432,458

  Multifamily

  $514,195

  Automotive / Energy

  $316,819

  Parking / Income-Based Land

  $108,533

  Restaurant / Food Service

  $186,498

  Healthcare / Senior Housing

  $363,492

Location Insight

City

Corsicana

County

Navarro

State

Texas

Latitude

32.0735

Longitude

-96.4425

CBSA code

18620

CBSA name

CORSICANA, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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