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    502 Fannin St Alamo, TX 78516

    Sponsored
    For Sale
    $396,000

    4-Acre Prime Development Opportunity in Elsa, TX

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 4.041-acre property, located at 502 E Fannin Street in Elsa, Texas, presents a remarkable multifamily or commercial development opportunity. Zoned for both commercial and residential use, this land offers unparalleled potential in a thriving area. The property's prime location near parks, shopping centers, and highly-rated schools ensures strong demand for any developed units. The asking price is $396,000. Significant groundwork has already been completed by the seller, including project elevations, surveys, and preliminary construction sketches, streamlining the development process and minimizing upfront costs. This comprehensive preparation significantly reduces the time and resources required to commence construction. The property's substantial size allows for a variety of development options, from apartment buildings to duplexes or triplexes, or even a mixed-use commercial project. The convenient location in Hidalgo County, Texas, with easy access to Alamo and Elsa, makes this an attractive investment for developers seeking a high-return project in a desirable area. This turnkey opportunity is ready for immediate development, offering a significant advantage in the competitive real estate market. The property is situated at 26.1750679 latitude and -98.1127241 longitude, with a zip code of 78516. Don't miss this chance to acquire a prime piece of land poised for significant growth and profitability.

    Property Features for 502 Fannin St

    General Information

    Property type
    Multifamily properties
    Lot Size
    176,026 SF

    HighLights

    • $396,000 asking price.
    • 4.041‑acre multifamily land parcel.
    • Located at 502 E Fannin Street, Elsa, TX 78516.
    • Prime development opportunity near parks, shopping, and schools.
    • Preliminary site work completed, including surveys and sketches.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Map

    City
    Alamo
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.1127241
    Latitude
    26.1750679

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    FAQs

    What type of property is this?
    Multifamily property - 4-Acre Prime Development Opportunity in Elsa, TX
    Where is this multifamily property located?
    The property is located at 502 Fannin St Alamo, TX.
    What is the asking price?
    The asking price for this property is $396,000.
    What are key features of this property?
    This property features: $396,000 asking price.; 4.041-acre multifamily land parcel.; Located at 502 E Fannin Street, Elsa, TX 78516.
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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
    502 Fannin St Alamo, TX 78516
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