1312 Larkspur Dr Richardson, TX 75081

Property Details for 1312 Larkspur Dr

Lot size

0.85 lot acres

Property type

Commercial real estate

APN

42-24450-003-001-0000

Description

This exceptional 0.85-acre site in Richardson, Texas, presents a compelling multifamily redevelopment opportunity. Approved for a 48-unit apartment building with ground-floor retail space, this property boasts a prime location at the corner of Larkspur Dr and Plano Rd, enjoying high visibility and accessibility with 60,000 cars passing daily. Situated within a thriving area of Dallas County, this Class A project benefits from its proximity to major employers, including the Telecom Corridor and the University of Texas at Dallas, ensuring strong rental demand. The Dallas-Fort Worth metroplex's robust economy and population growth create a favorable investment climate. The mixed-use development potential, combining residential and retail spaces, offers diversified revenue streams. The target demographic includes young professionals, students, and employees in the technology and finance sectors. This location is surrounded by high-income households and corporate employers, creating built-in demand. The property's 0.85-acre lot size and zoning approval for a 48-unit building with ground-floor retail provide a solid foundation for a successful development. The site's strategic location within Richardson, a city experiencing significant growth, ensures long-term value and strong returns. The existing zoning allows for a mixed-use development, capitalizing on the synergy between residential and retail tenants. This presents a rare opportunity to capitalize on the high demand for multifamily housing and the growing retail sector in this dynamic area of Texas. The property is offered fee simple. The APN is 42-24450-003-001-0000.

Location Insight

City

Richardson

County

Dallas

State

Texas

Longitude

-96.7005213

Latitude

32.9487721