115 E Main St, Gunter, TX 75058

This 7.26-acre property is located within the city limits of Gunter, Texas, and includes an approximate 2300-square-foot home that requires updates but could potentially be used for rental or office purposes. Situated on Main Street, also known as FM 121, just east of Preston Road, the property presents a development or investment opportunity. Seller financing is available with 50% down for 3 years. According to the City of Gunter, the zoning is THOR (Thoroughfare District) in the front portion and SF1 in the back. The THOR is an overlay district with a base zoning of C-1. The property can currently be used as SF1, but if the home becomes vacant for six months or more, or is demolished, the land use would change to C-1 zoning on the front of the parcel. The property could be purchased as part of a 1031 Tax Exchange. City water and sewer are available. A small yellow building to the east of the home is part of the property and is currently used for storage. New developments are under construction just east of the property on FM 121/Main St. Gunter is positioned for growth, located north of Prosper and Celina and south of Sherman, with proximity to the future extension of the Dallas North Tollway. The property is located 20 minutes from the planned Universal Theme Park in Frisco and 10 minutes from HEB, Costco, Walmart, and Lowe's in Celina. The property extends beyond the creek to the south boundary. Taxes paid by the seller last year were $7740.