Amarillo, TX 79118
- Land
- 257.00 lot acres
Current Use by Public Records
- Land
Property Details
- Lot size
- 257.00 lot acres
- Property type
- Land
- Property subtype
- Farms
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Amarillo
- County
- Randall
- State
- Texas
- Longitude
- -101.73
- Latitude
- 35.1043
