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    The Largest CRE Database in the US with Over 1 Million Listings

    1300 Beauchamp Blvd Princeton, TX 75407

    Sponsored
    For Sale
    $9,250,000

    Entitled 378+ unit development, prime location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    426
    This exceptional 23.339-acre site in Princeton, TX, offers a unique opportunity for multifamily development. Located at 1300 N Beauchamp Blvd, this shovel-ready property is zoned PD-29, permitting the construction of a 378-unit, three-story garden-style complex. Existing architectural and engineering plans, along with select third-party reports, will be conveyed at closing. The site boasts convenient access to major thoroughfares like US 380, US 75, and SH 121, placing it within easy reach of retail amenities such as Walmart, Ace Hardware, Starbucks, and 7-Eleven. Its proximity to Southard Middle School and JM Caldwell Sr. Community Park adds to its appeal. The site's strategic location within the Princeton Independent School District, coupled with the area's robust population growth (a 34.5% increase from 2020 to 2022, according to the US Census Bureau), presents a compelling investment opportunity. While impact fees of approximately $1.57 million remain, along with permit fees, the property offers an attractive price point of roughly $24,470 per developable unit. Potential buyers are encouraged to conduct their own due diligence regarding zoning and unit count. The seller will provide the existing engineering and architectural plans. Note that the provided information reflects data available at the time of listing and may be subject to change.

    Property Features for 1300 Beauchamp Blvd

    General Information

    Property type
    Land
    Lot Size
    1,016,647 SF

    We can help!

    Listing Contact
    Jordan Cortez

    Learn more

    HighLights

    • 23.34‑acre site on North Beauchamp Blvd, near US 380, US 75, and SH 121, with nearby retailers including Walmart, Ace Hardware, Starbucks, and 7‑Eleven.
    • PD‑29 zoning allows for 378 multifamily units; engineering and architectural plans available at closing; shovel‑ready site with approximately $1.57M in remaining impact and permit fees (buyer due diligence required).
    • Princeton population reached 22,900 in July 2022 (34.5% increase from 2020); March 2024 median home price: $364,950 (4.3% YoY increase); Allen/McKinney average multifamily rent: $1,624/month; Princeton Class A multifamily achieving rents up to $1.65 psf.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Princeton
    County
    Collin
    State
    Texas
    Longitude
    -96.5133127
    Latitude
    33.1866829

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    FAQs

    What type of property is this?
    Land - Entitled 378+ unit development, prime location
    Where is this land located?
    The property is located at 1300 Beauchamp Blvd Princeton, TX.
    What is the asking price?
    The asking price for this property is $9,250,000.
    What are key features of this property?
    This property features: 23.34-acre site on North Beauchamp Blvd, near US 380, US 75, and SH 121, with nearby retailers including Walmart, Ace Hardware, Starbucks, and 7-Eleven.; PD-29 zoning allows for 378 multifamily units; engineering and architectural plans available at closing; shovel-ready site with approximately $1.57M in remaining impact and permit fees (buyer due diligence required).; Princeton population reached 22,900 in July 2022 (34.5% increase from 2020); March 2024 median home price: $364,950 (4.3% YoY increase); Allen/McKinney average multifamily rent: $1,624/month; Princeton Class A multifamily achieving rents up to $1.65 psf.
    (214) 556-1951
    Request Owner's contact information
    1300 Beauchamp Blvd Princeton, TX 75407
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1300 Beauchamp Blvd Princeton, TX 75407
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    We can help!
    Listing Contact
    Jordan Cortez
    Real Estate License ID: 0494942
    (214) 556-1951
    Learn more
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