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Updated about 2 years ago on . Most recent reply

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Lincoln Harris
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110 acres of prime land. Should I sell now, wait or ?

Lincoln Harris
Posted

110 acres of vacant land, 1 mile of Hwy 287 frontage.  New housing development under construction directly across the highway. Currently not zoned for anything besides agriculture.  Fort Worth city limits is outside my Southern property line / fence and in planning to be zoned as residential development land soon.  Neighbouring properties have been significantly developed &/or are currently being developed.

I have received numerous offers.  Should I sell today while outside the city limits with fewer restrictions for a developer or use a two party ground lease with commercial prior to the establishment of the residential zoning.  Or wait a year until the land becomes part of the city and then sell?  Or possibly something else?

Just joined!  Appreciate any and all feedback.  

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Michael Le
  • Developer
  • Houston, TX
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Michael Le
  • Developer
  • Houston, TX
Replied

If you're in no rush, work on getting the property rezoned yourself and increase the value. Get utilities to the property to increase it even more. The closer you get it to be shovel ready the more you'll be able to sell it for.

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