Grv Blvd Waxahachie, TX 75165

Property Details for 0 Grv Blvd

Lot size

6.24 lot acres

Property type

Land

Description

This exceptional 6.24-acre commercial land parcel presents a remarkable mixed-use development opportunity in the thriving North Grove area of Waxahachie, Texas. Located at the intersection of Brown Street and N Grove Boulevard (zip code 75165), this fully entitled site boasts utilities already in place within Planned Development #3002. The property's strategic position within the heart of the North Grove Planned Development places it amidst established single-family communities, ensuring high demand and strong potential for rental income. Plans allow for the construction of approximately 110-115 residential units, incorporating ground-floor retail space, capitalizing on the area's robust demographics. The surrounding area exhibits exceptional growth, with a 1-mile radius showcasing a median household income of $105,682 and an average household income of $126,622. Furthermore, the area experienced a 12% population increase annually from 2010-2022, and projections indicate a 3.2% growth from 2022-2027. Market analysis reveals average Class-A multifamily rents in Waxahachie: 1-bedroom units averaging 758 sq ft at $1404/month ($1.86/sq ft), 2-bedroom units averaging 1063 sq ft at $1825/month ($1.71/sq ft), and 3-bedroom units averaging 1252 sq ft at $2162/month ($1.72/sq ft). Average retail rent is $28 per square foot. Nearby amenities include the North Grove Community Center, Max H Simpson Elementary School, North Grove Community Park, and Eddie Finley Jr High School, enhancing the desirability of this prime location. This is a truly exceptional opportunity for a developer seeking a high-return investment in a rapidly expanding Texas market.

Location Insight

City

Waxahachie

County

Ellis

State

Texas

Longitude

-96.8283

Latitude

32.433