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The Ruiz Companies |
Price | £3,767,000 |
Sale Type | Investment |
Sale Condition | Development Sale |
No. Lots | 1 |
Property Type | Land |
Property Subtype | Commercial |
Proposed Use | Commercial |
Total Lot Size | 5.59 AC |
Zoning | B-4 - Where the primary business is Industrial Use |
Price | £3,767,000 |
Price Per AC | £673,881.96 |
Lot Size | 5.59 AC |
The subject property contains 5.59 acres. The tract is irregular in shape and features 215.50 feet of frontage on the east side of San Dario The average depth is 610’. The property is relatively level, at grade, and has all utilities.
The subject property is located to the north of Hilltop and south of Shiloh. The majority of the tracts located in the area are unplatted commercial tracts. Most of these tracts feature secondary commercial uses such as pottery sales, truck sales, etc. Many of these tracts are awaiting redevelopment given the lack of available tracts along the interstate to the south. Therefore, the next logical area of development would be in the area of the subject property to the north of Hilltop and south of Shiloh. In the mid 1990’s, Shiloh was extended from IH-35 to McPherson. Since that time there has been considerable commercial development along Shiloh. This includes a number of residential condominiums and apartments, retail outlets, and office buildings. A multistory office building is located at the intersection of IH-35 and Shiloh. Located directly to the rear of the subject property is a manufactured home subdivision. There are a number of single family residential subdivisions that have been developed further to the east. New apartment complexes are being constructed in the neighborhood to the east of the subject. The area behind the North Creek Shopping Center was opened for development with the construction of new streets through the area. There is a small industrial park located just to the north of the subject property off of International Drive. The other side of the interstate across from the subject property is less conducive given the fact that it is bisected by a major rail line.
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