23063 Recreation Road 11 Millersview, TX 76862
This exceptional 6.73-acre mixed-use property presents a unique investment opportunity near Lake O.H. Ivie in Millersview, Texas (zip code 76862). Currently utilized for successful cabin rentals, catering to fishermen and recreational enthusiasts, this unrestricted land offers immense potential for expansion and diversification. Two existing cabins generate immediate income, while ample space allows for the addition of more rental units, RV hookups, or other commercial ventures. A partially constructed boat storage building provides a head start on further development. The property boasts stunning lake views and a highly desirable location, situated conveniently on Recreation Road 11, just before Concho Park Marina. The absence of restrictions allows for creative development, making this a truly versatile investment. The asking price is $325,000. This property is ideal for an investor seeking a high-return, multi-faceted venture in a prime recreational area. Don't miss this chance to capitalize on the thriving tourism and recreational activities surrounding Lake Ivie.
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
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Property description
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.