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    550 Parker Rd Wylie, TX 75098

    For Sale
    $1,325,000

    6 Acres, Lake Lavon Proximity, Development Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional 6-acre agricultural property in Wylie, Texas, presents a unique investment opportunity. Located in Collin County, at 550 Parker Rd, zip code 75098, this land boasts a desirable location, approximately 2.5 miles from the Inspiration development and close to Lake Lavon. Currently zoned for agricultural use, the property offers immediate utility for farming or ranching. However, its strategic location also presents exciting potential for future commercial development. The proposed expansion of Park Boulevard is planned to run near this area, significantly enhancing accessibility and value. The property is situated outside the 100-year floodplain, according to flood maps and the owner's assessment, mitigating risk. This 1031 exchange-eligible property is offered at $1,325,000 and is ideal for investors seeking a versatile land asset with both immediate and long-term growth potential. The property's size and location make it an attractive prospect for a variety of uses, from continued agricultural use to future commercial ventures. Serious inquiries are encouraged to explore the possibilities of this exceptional Collin County land.

    Property Features for 550 Parker Rd

    General Information

    Property type
    Farms
    Lot Size
    261,360 SF

    HighLights

    • $1,325,000 asking price for 6 acres of agricultural land.
    • Located at 550 Parker Rd, Wylie, TX 75098 in Collin County.
    • Agricultural zoning.
    • Broker co‑op available.
    • Suitable for 1031 exchange.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wylie
    County
    Collin
    State
    Texas
    Longitude
    -96.5418281
    Latitude
    33.0288474

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    FAQs

    What type of property is this?
    Farm - 6 Acres, Lake Lavon Proximity, Development Potential
    Where is this farm located?
    The property is located at 550 Parker Rd Wylie, TX.
    What is the asking price?
    The asking price for this property is $1,325,000.
    What are key features of this property?
    This property features: $1,325,000 asking price for 6 acres of agricultural land.; Located at 550 Parker Rd, Wylie, TX 75098 in Collin County.; Agricultural zoning.
    Request Owner's contact information
    550 Parker Rd Wylie, TX 75098
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    550 Parker Rd Wylie, TX 75098
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