302 Interstate 35 RdRed Oak, TX 75154

Property Details for 302 Interstate 35 Rd

Year built

1930

Lot size

5.58 AC

Property size (Sq ft)

6,720 SF

Property type

Commercial real estate

APN

72.0161.000.002.00.111

APU

72016100000200111

Description

This exceptional 5.58-acre commercial land parcel, located at 302 S. Interstate 35 E in Red Oak, Texas (zip code 75154), presents a unique investment opportunity. Currently zoned for commercial use, the property includes a 6,720 square foot building slated for demolition by year's end, offering a blank canvas for development. The property's advantageous location directly on the Interstate 35 service road ensures high visibility and accessibility, making it ideal for a variety of commercial ventures. The Ellis County location provides easy access to major transportation routes, enhancing its appeal to businesses seeking a strategic location. The APN is 180870. Note that the city of Red Oak now mandates rezoning for this property. This presents a chance to shape the future of this prominent site, tailoring it to your specific business needs. The asking price for this significant land holding is $2,000,000. The property is offered for sale by owner. This is a rare opportunity to acquire a substantial commercial property in a rapidly growing area. Don't miss out on this chance to secure a prime location with significant development potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,298,940

  6.5%

  $1,199,020

  7%

  $1,113,370

• Comparable approach

  Method

  Valuation

  Relative Method

  $733,258

  Geo Method

  $2,011,900

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,342,880

  Retail / Commercial

  $1,204,880

  Mixed-Use / Specialty

  $1,203,320

  Hospitality / Lodging

  $886,395

  Office

  $1,199,020

  Institutional / Educational

  $1,251,950

  Residential Income

  $1,464,780

  Multifamily

  $1,741,630

  Automotive / Energy

  $1,073,100

  Parking / Income-Based Land

  $367,613

  Restaurant / Food Service

  $631,687

  Healthcare / Senior Housing

  $1,231,180

Location Insight

City

Red Oak

County

Ellis

State

Texas

Latitude

32.5139

Longitude

-96.8204

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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