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    Fm 664 Red Oak, TX 75154

    For Sale
    Contact for pricing

    9.789 Acres, High-Growth Area

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional 9.789-acre commercial land parcel presents a unique investment opportunity in the rapidly expanding Ovilla, Texas market. Located on Ovilla Road (FM 664), between S Westmoreland Rd and Malloy Rd, this property boasts unparalleled visibility and convenient access, situated just 3.5 miles from Interstate 35E. The property is zoned CG (General Commercial), permitting a diverse range of uses including retail, restaurant (drive-throughs allowed with SUP), medical, office, daycare, and mini-warehouse facilities. Two pre-existing conceptual site plans offer various development configurations to suit diverse needs. The site's strategic location benefits from a robust existing retail landscape, with nearby establishments including Walmart, Starbucks, Brookshire's, CVS, Walgreens, and many more. Furthermore, the area has experienced significant population growth—a remarkable 54.33% increase from 2010 to 2023—with projections indicating an additional 10.76% growth between 2023 and 2028. This substantial population surge underscores the exceptional potential for commercial development and strong returns on investment. The property's APN is 250566, and it's located in Ellis County, Texas, zip code 75154. This prime location and zoning flexibility make this an ideal site for developers seeking to capitalize on the area's explosive growth.

    Property Features for 0 Fm 664

    General Information

    Property type
    Land
    Lot Size
    426,409 SF

    HighLights

    • 9.789‑acre commercial land parcel in Ovilla, TX, on Ovilla Road (FM 664), between S Westmoreland Rd and Malloy Rd.
    • High‑visibility location, 3.5 miles from I‑35E, offering excellent access.
    • CG (General Commercial) zoning allows retail, restaurant (drive‑throughs permitted with SUP), medical, office, daycare, and mini‑warehouse uses.
    • Restaurants with or without drive‑throughs are permitted with a Site Use Permit (SUP).
    • Two pre‑existing conceptual site plans available for various development configurations.
    • 54.33% population growth within a 3‑mile radius from 2010 to 2023.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Red Oak
    County
    Ellis
    State
    Texas
    Longitude
    -96.7915393
    Latitude
    32.5311692

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    FAQs

    What type of property is this?
    Land - 9.789 Acres, High-Growth Area
    Where is this land located?
    The property is located at Fm 664 Red Oak, TX.
    What are key features of this property?
    This property features: 9.789-acre commercial land parcel in Ovilla, TX, on Ovilla Road (FM 664), between S Westmoreland Rd and Malloy Rd.; High-visibility location, 3.5 miles from I-35E, offering excellent access.; CG (General Commercial) zoning allows retail, restaurant (drive-throughs permitted with SUP), medical, office, daycare, and mini-warehouse uses.
    (214) 520-8818
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    Fm 664 Red Oak, TX 75154
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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
    Fm 664 Red Oak, TX 75154
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