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    301 Ovilla Rd Red Oak, TX 75154

    For Sale
    $749,900

    2.85 Acres, Hwy 664 Frontage

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 2.85-acre commercial land parcel presents a unique investment opportunity in Red Oak, Texas. Located at 301 East Ovilla Road, this property boasts excellent visibility and accessibility, situated directly on Highway 664, with convenient access to major thoroughfares like I-35 and 287. The property's APN is 199964. The asking price is $749,900. The existing home on the property offers potential for immediate cash flow through rental income, providing a valuable return on investment until development plans are implemented or a new business is constructed. This strategic location within Ellis County, zip code 75154, makes it ideal for a variety of commercial ventures, benefiting from high traffic counts and proximity to a growing residential community. The expansive lot size provides ample space for development, allowing for flexibility in design and construction. This is a rare opportunity to acquire a well-positioned commercial property with immediate income potential and significant long-term growth prospects. Don't miss this chance to secure a prime piece of Red Oak real estate.

    Property Features for 301 Ovilla Rd

    General Information

    Property type
    Land
    Lot Size
    124,146 SF

    HighLights

    • 3‑acre commercial lot on Hwy 664 with convenient access to I‑35 and I‑287.
    • Existing home offers potential rental income until development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Red Oak
    County
    Ellis
    State
    Texas
    Longitude
    -96.8044041
    Latitude
    32.5311135

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    FAQs

    What type of property is this?
    Land - 2.85 Acres, Hwy 664 Frontage
    Where is this land located?
    The property is located at 301 Ovilla Rd Red Oak, TX.
    What is the asking price?
    The asking price for this property is $749,900.
    What are key features of this property?
    This property features: 3-acre commercial lot on Hwy 664 with convenient access to I-35 and I-287.; Existing home offers potential rental income until development.;
    (972) 921-1594
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    301 Ovilla Rd Red Oak, TX 75154
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    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
    301 Ovilla Rd Red Oak, TX 75154
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