Redevelopment Land Tract with
1651 Fm 66 Waxahachie, TX 75167
New
1651 Fm 66, Waxahachie, TX, 75167
$800,000
For Sale
$800,000
Flat land tract on a major thoroughfare with a distressed 1940 farmhouse available for restoration or redevelopment.
Property Size1,824 SF
Lot Size2.04 Acres
Price / SF$438.60
Days on Market2
Property Features for 1651 Fm 66
General Information
- Standard status
- Active
- Size
- 1,824 SF
- Lot size
- 2.04 Acres
Building Details
- Year Built
- 1940
Listing agency
NextHome Property Advisors
(972) 875-5867
Listed by
Candi Cryer · License #805955,PersonLicenseNumber
Source
Brickstreetrealtygroup
Added: Jul 21 Updated: Jul 22 at 12:51PM Checked: Jul 22 at 12:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NextHome Property Advisors
Investment Insights
Based on property information with market context.
This offering consists of a flat, useable land tract totaling 2.04 acres, featuring a farmhouse built in 1940. The existing structure is currently in distressed condition and requires restoration, with the primary value positioned in the land itself and its suitability for redevelopment.
The property is located on a high-traffic major thoroughfare just outside Waxahachie, Texas, and is described as having prime visibility and access. It is also noted to be within close proximity to Highway 35, with surrounding industrial and commercial development.
The site is presented as flexible for future use, with the option to restore the existing farmhouse into a commercial or office-type setting if desired, while redevelopment of the land is also a stated primary consideration. Please call the listing agent for details.
The property is located on a high-traffic major thoroughfare just outside Waxahachie, Texas, and is described as having prime visibility and access. It is also noted to be within close proximity to Highway 35, with surrounding industrial and commercial development.
The site is presented as flexible for future use, with the option to restore the existing farmhouse into a commercial or office-type setting if desired, while redevelopment of the land is also a stated primary consideration. Please call the listing agent for details.
Key Highlights
- 2.04‑acre tract on a high‑traffic major thoroughfare outside Waxahachie, TX
- Flat, useable land with redevelopment and investment potential
- Includes a 1940 farmhouse requiring restoration; property is currently in distressed condition
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.0k | $30.72 |
| − Vacancy | −$15.4k | −$8.42 |
| EGI | $40.7k | $22.30 |
| − OpEx | −$10.2k | −$5.58 |
| NOI | $30.5k | $16.73 |
1,824 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$435.9K
$381.4K – $508.5K
NOI $30,510 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$19.90M
$17.41M – $23.22M
NOI $1,393,199 @ 7.0% cap · market cap 174.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Industrial land - Flat land tract on a major thoroughfare with a distressed 1940 farmhouse available for restoration or redevelopment.
Where is this industrial land located?
The property is located at 1651 Fm 66 Waxahachie, TX.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 2.04‑acre tract on a high‑traffic major thoroughfare outside Waxahachie, TX; Flat, useable land with redevelopment and investment potential; Includes a 1940 farmhouse requiring restoration; property is currently in distressed condition
