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    Amarillo, TX 79118

    Sponsored
    For Sale
    $2,184,500

    257 Acres, Prime Development Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 257-acre property in Randall County, Texas, presents a unique investment opportunity near Amarillo. Zoned for agriculture, this land offers diverse development potential, including residential subdivisions (1, 2.5, and 5-acre tracts), commercial ventures along the road frontage, or continued agricultural use. Its strategic location across from the highly sought-after Lake Tanglewood and River Falls communities, including River Falls' private airport, ensures high demand and future growth. The property boasts abundant water resources, making well drilling feasible, and electricity is readily accessible at the roadside. This makes it ideal for various uses, including light industrial development or even solar energy generation, given its proximity to high-voltage power lines. Currently used for crop production, the land offers immediate income potential. The seller is offering attractive financing options: a 1/3 down payment, with the remaining balance financed over 36 months at 6% interest, payable in two 18-month installments. The seller is also open to selling a slightly smaller parcel (approximately 250 acres), excluding a 7-acre area with existing barn and corrals, if preferred by the buyer. This property represents a rare chance to acquire a large tract of land in a rapidly developing area with significant upside potential. The asking price is $2,184,500 ($8,500/acre). The address is 0 E FM 1151, Amarillo, TX 79118.

    Property Features for 0

    General Information

    Property type
    Farms
    Lot Size
    11,194,920 SF

    HighLights

    • Prime 257‑acre agricultural tract with residential and commercial development potential in a rapidly growing Amarillo area.
    • Excellent road frontage suitable for commercial development, with potential for 2.5- and 5‑acre residential tracts.
    • Abundant water resources and readily available electricity at the road.
    • Located in a desirable, quiet area near established Amarillo communities.
    • Seller financing available with terms negotiable.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Amarillo
    County
    Randall
    State
    Texas
    Longitude
    -101.7296049
    Latitude
    35.1042931

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    FAQs

    What type of property is this?
    Farm - 257 Acres, Prime Development Opportunity
    Where is this farm located?
    The property is located at Amarillo, TX.
    What is the asking price?
    The asking price for this property is $2,184,500.
    What are key features of this property?
    This property features: Prime 257-acre agricultural tract with residential and commercial development potential in a rapidly growing Amarillo area.; Excellent road frontage suitable for commercial development, with potential for 2.5- and 5-acre residential tracts.; Abundant water resources and readily available electricity at the road.
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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
    Amarillo, TX 79118
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