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    2.44 Acres Chapel Rd Lorena, TX 76712

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    For Sale
    Contact for pricing

    2.44 Acres, O-1/O-2 Zoning, High Visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2.44-acre agricultural property in Waco, Texas, presents a compelling development opportunity. Located in McLennan County, zip code 76712, the land boasts significant frontage on both Chapel Road (approximately 283 feet) and Lost Trail Drive (approximately 350 feet), ensuring high visibility and excellent access. The property is zoned O-1 and O-2, offering versatility for various uses. Its strategic location near schools, residential areas, retail, and multi-family developments, less than half a mile from Hewitt Drive, places it within West Waco's thriving growth corridor. The site's size and zoning allow for potential division, making it suitable for a range of development projects. This prime location combines high visibility, convenient access, and flexible zoning, creating an ideal investment opportunity in a rapidly developing area. The property is situated at 31.48435547 latitude and -97.21668632 longitude. The land value is $8.50 per square foot.

    Property Features for 0 2.44 Acres Chapel Rd

    General Information

    Property type
    Farms
    Lot Size
    106,286 SF

    HighLights

    • 2.44‑acre agricultural land parcel in Waco, TX.
    • O‑1 and O‑2 zoning allows for diverse development options.
    • High visibility and excellent access due to frontage on Chapel Rd (~283 ft) and Lost Trail Dr (~350 ft).
    • Divisible lot suitable for various development projects.
    • Land value: $8.50/sq ft.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Lorena
    County
    McLennan
    State
    Texas
    Longitude
    -97.21668632
    Latitude
    31.48435547

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    FAQs

    What type of property is this?
    Farm - 2.44 Acres, O-1/O-2 Zoning, High Visibility
    Where is this farm located?
    The property is located at 2.44 Acres Chapel Rd Lorena, TX.
    What are key features of this property?
    This property features: 2.44-acre agricultural land parcel in Waco, TX.; O-1 and O-2 zoning allows for diverse development options.; High visibility and excellent access due to frontage on Chapel Rd (~283 ft) and Lost Trail Dr (~350 ft).
    Request Owner's contact information
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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
    2.44 Acres Chapel Rd Lorena, TX 76712
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