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$35,500,000

62AC Heritage (FM 1417) Parkway, Sherman, TX, 75092

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About this property

62.8108-acre development opportunity strategically located at the northeast corner of Heritage Parkway (FM 1417) and Washington Street in Sherman, Texas. The property is situated immediately south of an established retail strip center and directly adjacent to the growing Washington Meadows residential community, creating an excellent setting for future residential, commercial, or mixed-use development. The tract offers prominent frontage along Heritage Parkway (FM 1417), one of Sherman’s important north-south growth corridors, with convenient access to major transportation routes and the surrounding retail, residential, and employment areas. The property is currently zoned residential. Commercial development would be subject to obtaining the appropriate zoning change and all required approvals from the City of Sherman. Buyers and developers should independently verify zoning, permitted uses, utilities, access, development standards, and availability with the City of Sherman and applicable governmental authorities. The property's size, corner location, visibility, and proximity to existing and expanding residential development make it an attractive opportunity for developers, investors, and users seeking a sizable tract in a rapidly developing area of Sherman.

Investor Tools

$0Estimated Mortgage Balance
$35,500,000Estimated Equity
100% equity
Estimated Cap Rate
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Estimated ARV (After-Repair Value)
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Rent-to-Value Ratio: 0.72%
Rent Estimate
$213,000 /month
Positive
Cash Flow Estimate:
$71,000 /month

Interested in this property?

SHERRY SMITH

Ebby Halliday Realtors

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$X/month
No HOA
5.947%

City: Sherman