0 Devonshire Rd Hewitt, TX 76643
This exceptional 18.338-acre commercial land parcel presents a prime development opportunity in Hewitt, Texas, zip code 76643. Located on Devonshire Road within the Midway ISD boundaries, this property boasts a pre-annexation agreement with the City of Waco (September 2022), securing access to city water and sewer services. Currently zoned R-2, the land offers diverse development potential. Permitted uses include single-family homes, single-family attached dwellings (zero lot line), duplexes, two-family dwellings, and a range of community facilities. These possibilities encompass educational institutions (public/private schools, preschools, kindergartens, and special schools), religious institutions (houses of worship, convents, and related structures), Community Homes I, and special use permits for licensed group homes, HUD manufactured home subdivisions, and outdoor recreation and amusement. An agricultural exemption is currently in place. The asking price for this expansive tract is $2,000,000. This location offers excellent access to Waco and its amenities, making it an attractive investment for developers seeking a versatile and well-situated property. The McLennan County location provides a strong foundation for a variety of development projects. This is a rare opportunity to acquire a large parcel of land with pre-approved utility access, ready for immediate development.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.