1001 Mineral Wells Street
   Terrell 75160
 
  Property Features
Property Type:   Commercial
List Price:   3,350,000
Bedrooms:   0
Bathrooms:   0
 
 
 

  • Over 10.5 CAP RATE
  • Property Owned Laundry Equipment
  • New Exterior Paint In Progress
  • Thrivin Secondary Market
  • Located in TIF – Exciting New Area Developements
  • C- Class Property
  • CASH COW!!!
  • 94% Occupancy

Texas Apartments is an all-bills-paid family-oriented, C- Class, 126 unit residential community located in the secondary market of Terrell, TX. Built in 1972, it features spacious 1, 2, 3, and 4 bedroom townhouses with an average unit size of 942+/- SF. The grounds spread across 9.27+/- acres and include a playground, picnic tables, and large laundry facility with ample parking.

The property lies within Terrell’s TIF district which takes up approximately 4,500 acres, making it the single largest rural TIF district in the state. Based on estimates from the city, the TIF will generate $158 million dollars in public improvements during its 30-year life. As announced in October of 2009, tax increment financing (TIF) has spurred the development of a new 100-bed Baylor hospital at the intersection of Spur 577, SH 80 and I-20 in Terrell. When complete, the hospital would be the largest regional medical facility serving Kaufman County and the East Texas region west of Tyler. The hospital will anchor additional medical, office, retail, hotel and other commercial development on surrounding properties. According to TIF application filings, the development should create about 10,000 new jobs for the city, where employment
is currently about 7,000.

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The information contained herein has been obtained from the property owner or other sources that we deem reliable. Although we have no reason to doubt its accuracy, No representation or warranty is made regarding the information, and the property is offered as is.The submission may be modified or withdrawn at any time by the property owner.