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    321 Ovilla Rd Red Oak, TX 75154

    For Sale
    $815,443

    High-traffic corner lot, ideal for retail.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional 1.04-acre commercial land parcel is strategically located at 321 East Ovilla Road in Red Oak, Texas, 75154, offering unparalleled visibility and accessibility. Situated on a hard corner with a traffic light at the intersection of FM Road 664, this property boasts three sides of road frontage, ensuring maximum exposure to the over 20,000 vehicles that travel this busy thoroughfare daily. The location benefits from proximity to a concentration of established businesses including Walmart, Chick-fil-A, McDonald's, Sonic, Panda Express, and Ace Hardware, creating a vibrant and high-traffic commercial environment. The site's advantageous position is further enhanced by its adjacency to Triumph, a manufacturer employing 1300 individuals, with plans for an additional 800 employees across the street. This presents a significant opportunity to cater to the substantial lunch and daily needs of this workforce, currently underserved by on-site dining options. The asking price for this prime commercial land is $815,443, translating to $784,080 per acre. This vacant lot presents a unique opportunity for a restaurant, retail establishment, or even a service station to thrive in this rapidly growing area of Red Oak. The property's high visibility and strategic location are perfectly positioned to maximize your business's bottom line. Ellis County location.

    Property Features for 321 Ovilla Rd

    General Information

    Property type
    Land

    HighLights

    • 1.04‑acre commercial lot for sale at $815,443 ($784,080/acre) in Red Oak, TX.
    • High‑traffic location on FM Road 664, boasting over 20,000 vehicles daily and three sides of road frontage.
    • Hard corner lot with traffic signal, providing excellent visibility and accessibility.
    • Surrounded by established businesses including Walmart, Chick‑fil‑A, McDonald's, Sonic, Panda Express, and Ace Hardware.
    • Adjacent to Triumph, a manufacturer employing 1300+ employees, with plans for an additional 800 employees across the street, creating high demand for nearby services.
    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
    -96.8003633
    Latitude
    32.531702

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    FAQs

    What type of property is this?
    Land - High-traffic corner lot, ideal for retail.
    Where is this land located?
    The property is located at 321 Ovilla Rd Red Oak, TX.
    What is the asking price?
    The asking price for this property is $815,443.
    What are key features of this property?
    This property features: 1.04-acre commercial lot for sale at $815,443 ($784,080/acre) in Red Oak, TX.; High-traffic location on FM Road 664, boasting over 20,000 vehicles daily and three sides of road frontage.; Hard corner lot with traffic signal, providing excellent visibility and accessibility.
    (972) 921-1594
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    321 Ovilla Rd 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
    321 Ovilla Rd Red Oak, TX 75154
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