Pad-Ready Commercial Land
US 380 at Old North Road - Lot 3 multitenant, Denton, TX 76209
Prime commercial frontage in Denton, TX, with utilities and entitlements.
Type:Land, Mixed Use, Retail
Property size:
9,341 SFLot size:
8.24 AcresPrice / SF:
$238/SF- Added:
- Aug 30, 2021
- Days on Market:
- 1736
- Last Refresh:
- May 19 at 11:38 pm
Property Features for US 380 at Old North Road - Lot 3 multitenant
General Information
- Standard status
- Active
- Size
- 9,341 SF
- Lot size
- 8.24 Acres
- Property subtype
- Land, Mixed Use, Retail
Listing agent Stephen Schattner License #TX 0502217
Listing office Imperium Holdings LP
Listing date Aug 30, 2021
Source Crexi
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 Imperium Holdings LP
HighLights
- Pad‑ready commercial frontage with completed preliminary plat and all utilities/entitlements in place, streamlining development.
- Strategic location at a signalized interchange on US 380 inside Loop 288 in Denton, offering high visibility (27,000 cars daily) and easy access.
- Located in an area with limited retail competition due to barriers to entry (flood plain, medians, overpasses) and a demonstrated retail gap.
- Part of the Sereno mixed‑use development, featuring 277 residential units and on‑site amenities like waterfront dining, parks, and public art, creating a built‑in customer base.
- Ag exemptions in place, resulting in low property taxes and assessments.
- Seller financing available.
Overview
This commercial frontage is part of the Sereno development, an 18-acre mixed-use project in Denton, Texas. The multifamily portion on the back side of the property has been sold and is under construction, with 277 units. The sale includes the remaining commercial frontage, which has a completed preliminary plat and all utilities and entitlements. The multifamily development will be conducting improvements on the commercial tract, including fire lanes, driveway permits, and utilities. All buildings on the commercial tract are designed and approved for preliminary plat by the City. The site work plans for curb cuts and the reciprocal access agreement are city approved. The property has completed design development guidelines, covenants, conditions, and restrictions, as well as ALTA and topographic surveys, and a clean Phase-1 environmental assessment. Utility improvements are on site and being upgraded by the multifamily development. The site work leveling is complete, and ag exemptions are in place with low property tax and assessments. Sereno includes approximately 37,000 square feet of upscale shop space, fine dining establishments, and office space, along with on-site amenities such as retail, waterfront and outdoor dining, splash fountains, public art, and dog-friendly parks. The property is located at the northwest corner of US 380 at Old North, within one mile of Texas Women’s University and three miles of The University of North Texas. The property is zoned PD (SC retail base zoning) with existing entitlements and is ideal for banks, fuel operations, consumer services and goods, and restaurants. Multi-tenant retail space and restaurant sites are currently preleasing with construction to commence soon. The 8.235 acres can be acquired in its entirety with contract assignments.
Local Financial Insights For Specialty Retail
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 | $224.2k | $24.00 |
| − Vacancy | −$10.1k | −$1.08 |
| EGI | $214.1k | $22.92 |
| − OpEx | −$53.5k | −$5.73 |
| NOI | $160.6k | $17.19 |
9,341 SF · lease $24.00/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.29M
$2.01M – $2.68M
NOI $160,572 @ 7.0% cap · market cap 7.21%
Second Best
Retail
$1.95M
$1.71M – $2.28M
NOI $136,841 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$2.92M
$2.55M – $3.40M
NOI $204,290 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Commercial land
Map
- City
- Denton
- County
- Denton
- State
- Texas
- Longitude
- -97.1112
- Latitude
- 33.236
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - Prime commercial frontage in Denton, TX, with utilities and entitlements.
Where is this commercial land located?
The property is located at US 380 at Old North Road - Lot 3 multitenant Denton, TX.
What is the asking price?
The asking price for this property is $2,227,032.
What are key features of this property?
This property features: Pad‑ready commercial frontage with completed preliminary plat and all utilities/entitlements in place, streamlining development.; **Strategic location at a signalized interchange on US 380 inside Loop 288 in Denton, offering high visibility (27,000 cars daily) and easy access.**; Located in an area with limited retail competition due to barriers to entry (flood plain, medians, overpasses) and a demonstrated retail gap.
