1497 N J Elmer Weaver Fwy - Zoned Active Adult Development Site
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1497 N J Elmer Weaver Fwy - Zoned Active Adult Development Site
8.56 Acres of Residential Land Offered at $4,325,000 in Cedar Hill, TX 75104
Investment Highlights
- The 8.56+/- acre Site is ideally located at the northwest quadrant of US Highway 67 and W. Wintergreen Road just three miles south of Interstate 20.
- The Buyer will have to construct the storm water drainage improvements which is estimated to cost approximately $1MM.
- Active adult rent comparables within a 15 mile radius are achieving market rents up to $2.21 psf.
- The Site is zoned through ordinance 2022-775 allowing for 182+/- units of “retirement housing” which is age restricted to 55+.
- Per the US Census Bureau, the population of Cedar Hill grew by 1.31% between 2020 and 2021 from 48,337 to 48,968.
- In the immediate area are a number of national grocers, retailers, and restaurants such as Costco, Chick-fil-a, Starbucks, 7-Eleven, and more.
Executive Summary
Vanguard Real Estate Advisors (“VREA”) has been exclusively retained by Ownership to offer developers and investors the opportunity to purchase an 8.56+/- acre entitled active adult development site located at the northwest quadrant of W. Wintergreen Road and US Highway 67 in Cedar Hill, TX just minutes south of the Dallas CBD (the “Site”). The Site comes with completed plans for a 182 unit, 3-story, 55+ age restricted community which the Seller will convey along with existing third party reports at closing.
The 8.56+/- acres are within a larger 13.75+/- acre site which is set to have retail fronting US Highway 67 and Wintergreen Road, through which the Site will be accessible. This is an excellent opportunity to acquire zoned land at an attractive price of $23,764 per developable unit.
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 opportunity.
The 8.56+/- acres are within a larger 13.75+/- acre site which is set to have retail fronting US Highway 67 and Wintergreen Road, through which the Site will be accessible. This is an excellent opportunity to acquire zoned land at an attractive price of $23,764 per developable unit.
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 opportunity.
Property Facts
| Price | $4,325,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 8.56 AC |
| Price | $4,325,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 8.56 AC |
1 Lot Available
Lot
| Price | $4,325,000 | Lot Size | 8.56 AC |
| Price Per AC | $505,257 |
| Price | $4,325,000 |
| Price Per AC | $505,257 |
| Lot Size | 8.56 AC |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $1,350,130 | Total Assessment | $1,350,130 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,350,130
Improvements Assessment
$0
Total Assessment
$1,350,130
zoning
| Zoning Code | Zoned 2022-755 (The Site is zoned through ordinance 2022-775 allowing for 182+/- units of “retirement housing” which is age restricted to 55+.) |
| Zoned 2022-755 (The Site is zoned through ordinance 2022-775 allowing for 182+/- units of “retirement housing” which is age restricted to 55+.) |
Contacts
-
Jordan Cortez -
Mason John -
Justin Tidwell -
Will Droese -
Reid Pierce -
Haley Birmingham -
Alex Johnson -
Jim McNulty -
Vanguard Real Estate Advisors
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1497 N J Elmer Weaver Fwy - Zoned Active Adult Development Site
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