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2501 Polk St

20.25 Acres of Commercial Land Offered at £371,664 in Killeen, TX 76543

Executive Summary

Demand: A need for diversity in housing is outlined within the Killeen 2040 Comprehensive Plan, such as single-family, duplexes, multi-family and/or townhomes.
Location: The +/- 20.25-acres of land is located in northeast Killeen which is mostly developed. The prevailing nature of the area is single family homes  established in older developments. Just 1-mile southeast of the Polk St property, a large single-family development is under construction to accommodate new growth in this area.
Zoning: This infill property is currently zoned R-1 single family. Though zoned a low-density use, a buyer could choose to introduce a higher density product. Exercising this option would require a zoning change; necessitating citizen input, consideration from the Planning & Zoning Commission and final action by the City Council.
Access/Fire Code: The property currently has a single mean of ingress/egress-along Polk Street. The City fire code has a requirement that any development greater than 30 units have2 means of ingress/egress. And those two means of ingress/egress must be separated by a distance that's half the diagonal (size of the development). Contact the listing agent about existing opportunities to establish a secondary means of ingress/egress.
Site Note: The property hosts a 60’ utility easement running along the northern portion of the property. Additionally, a telecommunications easement (cell tower) is located on the northeast corner of the property which requires a 200’ fall zone. These two areas would be restricted from development; however, both easements could be designated as potential parkspace or another low-impact use, as illustrated on the conceptual lot plan within the flyer.

Property Facts

Price £371,664
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Multifamily
  • Single Family Development
Total Lot Size 20.25 AC

1 Lot Available

Lot

Price £371,664
Price Per AC £18,354
Lot Size 20.25 AC

+/- 20.25 acres Land Zoned R1 (Single Family) located in NE Killeen.

Description

Amazing 20.25 acre infill land opportunity for sale! Great NE Killeen location surrounded by established neighborhoods. Great potential for any investor wanting to develop a neighborhood to take advantage of new growth.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
510429
Land Assessment
£25,433
Improvements Assessment
£0
Total Assessment
£25,433

zoning

Zoning Code R1 (Link to R1 Zoning contained in the attached brochure.)
R1 (Link to R1 Zoning contained in the attached brochure.)
  • Listing ID: 29169949

  • Date on Market: 02/08/2023

  • Last Updated:

  • Address: 2501 Polk St, Killeen, TX 76543

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