TBD Palamino Drive Leonard, TX 75452

Previous Listing Price: $665,000

About this home

Property Overview

Prime Residential Development Opportunity – Leonard, TX. Excellent investment and development opportunity featuring 9.55 total acres comprised of five separate parcel numbers. The property has received preliminary plat approval for an 11-lot subdivision, with proposed lot sizes ranging from approximately 0.165 acres to 3.68 acres. Much of the heavy lifting has already been completed. The seller has obtained preliminary plat approval from the city and has begun infrastructure improvements, including installation of new water and sewer lines to the front of each proposed lot and road upgrades. Completion of the remaining construction items and approval by the City Engineer will allow for final plat approval and the ability to sell the lots individually. Projected subdivision sellout value is great upon completion, creating an attractive opportunity for developers, builders, investors, or land bankers looking for a project that is well underway. Ideally located just off US Highway 69 and adjacent to a recently completed residential community, the property benefits from excellent access and strong residential growth in the area. Students are served by Leonard ISD, including a recently constructed elementary school. The seller is seeking an early exit to focus on other investment opportunities, creating a unique chance for a buyer to complete the project and capture the remaining upside. Property Highlights:

9.55 acres total,
5 separate parcel numbers,
Preliminary plat approved for 11 lots,
Lot sizes from approximately 0.165 to 3.68 acres,
Water and sewer improvements underway,
Road improvements in progress,
Estimated sellout value is great,
Adjacent to newer residential development,
Convenient access to US-69,
Leonard ISD schools,
Significant entitlement and infrastructure work already completed.

A rare opportunity to acquire a near-complete subdivision project in a growing North Texas market.