Current Use by Public Records
- Retail properties & Spaces
Property Details for 670 Fm 501E
- Lot size
- 0.46 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Land
Description
This exceptional 0.46-acre lot, located at 670 FM 501E in Cherokee, Texas (zip code 76832), presents a unique investment opportunity. Situated at the town's only major intersection, this property boasts high traffic volume, making it ideal for a convenience store or similar retail venture. The land offers 20,037 square feet of space, with an additional 20,037 square feet of air rights. The asking price is $250,000, translating to $543,478 per acre. The property is zoned for retail use and is available for owner/user occupancy with an anticipated occupancy date of December 5, 2024. The location benefits from its proximity to Colorado Bend State Park (15 miles) and is strategically positioned to serve a growing population, including those in nearby ranches undergoing subdivision. The area currently lacks a gas station, presenting a significant opportunity to meet a critical local need. Furthermore, the property is expected to have access to a high-capacity water well (100 gallons per minute) due to its location on the Hickory Aquifer, and ample space exists for septic installation. The presence of a Class A public school, secured by the nearby Cherokee Home for Children, ensures a stable and growing community. This property offers significant potential for substantial returns in a rapidly developing area. The year built is listed as 0, indicating this is vacant land.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cherokee
- County
- San Saba
- State
- Texas
- Longitude
- -98.7083
- Latitude
- 30.982
