1.66 ACRES CORNER OF HWY 155 PALESTINE

Retail-Commercial for Sale
Catylist Listing ID: 30576186
Property Subtypes: Free-Standing Building, Garden Center, Mixed Use, Retail-Pad, Vehicle Related
Building Size (RSF): 1,648 SF
Gross Building Area: See Agent
Gross Land Area: 1.66 Acres
Sale Price: $250,000
Unit Price: $151.70 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/28/2020

Overview / Comments

Highly visible, high traffic count, level triangular lot on corner of State Hwy 155 and FM 315 (Gardner Drive), Palestine, TX. The property is across the state highway from a new Family Dollar Store, a new Texas Farm Bureau Insurance Office building and a recently opened Mahindra Tractor Store. On about 1.66 acres, located within city limits at 2601 State Highway 155, Palestine, TX 75801, just 1 mile north of Loop 256 and about 12 miles south of Frankston, TX. Presently there are 2 buildings on the property. One is a vacant residential home as a rental income property potentially bringing in about $500/MO. The other was a Bar-B-Q restaurant, renting for $400/MO.There is also a fruit and vegetable stand on the corner, leasing space for $100/MO. Property has potential to operate 1, 2 or 3 commercial concerns. Must see for all potential.

Additional Details

Nearest MSA: Palestine
County: Anderson
Taxing Authority: ANDERSON COUNTY
Tax ID/APN: R0033661
Property Visibility: Excellent
Largest Nearby Street: HWY 155
Traffic/Vehicle Count: 10,000
Highway Access: Yes, Hwy 155
Site Description: level, triangular lot
Area Description: can be utilized as one, two, or 3 separate lots.
Total Number of Buildings: 2
Number of Stories: 1
Typical SF / Floor: 800 SF
Property Condition: Fair
Construction/Siding: Wood Frame
Total Parking Spaces: 15
Parking Type: Surface
Sprinklers: None
Heat Type: Other
Heat Source: Other
Air Conditioning: Other
Zoning Description: single family, commercial
Water Service: Municipal
Sewer Type: Municipal
Legal Description: NORWOOD HEIGHTS (CITY), BLOCK 2LOT A

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,540 10,087 20,910
Median Age: 33.62 33.33 35.33
Households: 898 3,629 7,883

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