640 Acres of Exceptional Land for Sale

Vacant Land for Sale
Catylist Listing ID: 30751729
Property Subtypes: Multi-Family, Residential (Single Family), Retail, Retail-Pad
Gross Land Area: 640 Acres
Sale Price: $9,920,000
Unit Price: $15,500 Per Acre
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 9/16/2021

Overview / Comments

At 640 acres, the parcel is a perfect square that is one mile on each side and is zoned for commercial and residential development. The owner has worked alongside landscape architects and marketing professionals to create a vision for the land to help developers and builders picture the property's future.
Hutchinson Prairie is a unique property located just south of Lubbock, Texas. The unbeatable location is within a growing portion of the city convenient to shopping, dining, education and more. Originally a cotton farm, the parcel has a century-rich history tied to the roots of the community. The site is the perfect setting for a new mixed-use development, master-planned community, or educational opportunity.

Perfectly positioned in the path of growth in Southwest Lubbock which has also seen the strongest growth in new residential development. With the construction of 88/U.S. 84 Bypass, easier access to downtown and Texas Tech University will continue to fuel growth. Growth to date has been primarily homogenous single-family dwellings, but continued expansion will increase demand for mixed use development and a wider variety of housing styles. The one-square mile parcel offers a "blank slate" to create a unique community unmatched in the Lubbock MSA.
• High quality of life with world-class amenities coupled with strong affordability
• 30 percent of the City’s housing was constructed in the last 20 years
• On track to surpass 400,000 residents by 2040
• Largest industries are education, healthcare, agriculture, and social services
• Average commute – 16.2 minutes, lack of traffic

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R132328
Zoning: COMMERCIAL & RESIDENTIAL

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,632 8,495 28,984
Median Age: 36.98 34.79 37.81
Households: 1,206 2,953 10,811

Contact

Photograph of Listing Agent

Randy Egenbacher

Egenbacher Real Estate
West Texas CIE Member
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