Current Use by Public Records
- Land
Property Details for 2401 Us Highway 377
- Lot size
- 37.13 lot acres
- Property type
- Land
Description
This exceptional 37.13-acre tract in Granbury, Texas, presents a remarkable mixed-use development opportunity. Strategically located on 2401 W US Hwy 377, this property boasts a prominent position at the intersection of US Hwy 377 and Holmes Road, a key access point to the expanding Granbury Regional Airport. The site is currently zoned for a blend of commercial and residential uses, including single-family, multi-family, and townhome development. Future land use plans envision retail, office, and low-density residential components, creating a vibrant, self-sufficient community. The property's zoning is anticipated to be a combination of Residential Estate (RE) and Light Commercial (LC) districts following annexation, with a recommended rezoning to incorporate Light Commercial (LC), Townhome (TH), Multi-Family (MF), and R-7 (7,000 sq ft minimum lot size residential) designations to facilitate a master-planned community. A wide array of permitted uses are possible, encompassing various residential densities, commercial ventures (including retail, office, and restaurants), and select agri-business options, subject to potential special use permits. The property includes an existing two-acre residential homesite. Significant infrastructure improvements are underway, including potential road widening of US Hwy 377 and the installation of a traffic signal at the Holmes Road intersection. Utilities are anticipated to be readily available, with a planned city water and sewer extension projected for 2023. While an existing well provides water service to the current residence, city water will be required for certain uses. Stormwater management will necessitate detention and the dedication of drainage easements. Three-phase power is present, although further assessment is needed to determine capacity and distribution costs. Fiber optic and coaxial cable infrastructure is available for both commercial and residential internet and phone services. Natural gas service is also anticipated, with extension costs to be borne by the developer, potentially subject to partial cost-sharing from the provider. This property offers unparalleled potential for a high-return investment, capitalizing on Granbury's growth and the strategic location near the airport and downtown. The asking price is $9,800,000, and the property is offered as a 1031 exchange opportunity. The APN is R000043219, R000043220.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Granbury
- County
- Hood
- State
- Texas
- Longitude
- -97.8207
- Latitude
- 32.4347
