106 Acres in Corinth, TX - $12,000,000

Long Lake Ranch

Location:The property is located in southern Denton County on the northern banks of Lake Lewisville, on the eastern side of the lake with easy access to numerous employment centers and both major airports (DFW International and Love Field). The physical address for the property is 2950 Swisher Rd, Corinth, TX. It is about 25 minutes north of Downtown Dallas and 10 minutes south of Denton.

Road Frontage/Access:The property has several curb cuts and left lane median cuts along the 1,710 feet of frontage on the south side of Swisher Road (FM 2181), a 6 lane divided east west thoroughfare with over 21,000 cars daily.

Swisher connects to IH35E a couple miles east and on to the North Dallas Tollway, another 10 miles further east. IH35E recently completed a $1.4 billion expansion of the main lanes and added express lanes from Denton south to beyond IH635. Less than a mile to the west is th...

Terrain/Topography: The land has incredible views from numerous locations due to the very hilly terrain. The highest point of elevation on the property is approximately 610 +/- feet above sea level along both the east and west boundaries of the property on either side of the 15 acre lake known as Long Lake, the smaller 3-4 acre lower lake and Lake Lewisville. The lowest point of elevation on the property is approximately 530 +/- feet above sea level where the waters of Lake Lewisville meet the boundary line. The property has frontage on the lakes at multiple locations.

The property has some open, flat areas, but is primarily heavily treed with rolling hills and ravines. Soil types on the property include Konsil fine sandy loam and Birome-Rayex-Aubrey complex, which would not be suitable for planting crops but adequate for wildlife or livestock.

The property is primarily in Zone X, outside the 500 year floodplain.

Water/Utilities: Long Lake Ranch features frontage on Lake Lewisville, as well as a private 15 acre AC lake and a smaller 3-4 acre. There is city water along Swisher Road on the north side of the property. Sanitary sewer is also to the property.

Improvements/Interim Use: This former ranch would make a fantastic intown retreat or home for an individual or two who could enjoy the lake views and secluded, rural feel while letting the land continue to appreciate until it is developed more fully. An existing two story house and adjacent boat house overlook Long Lake on the east side. Both houses have good bones but are in need of TLC.

Development Potential:Long Lake Ranch was originally planned to be a single-family development around the 15 acre private lake, the smaller 3-4 acre lake and along the northern shore of Lake Lewisville. Approximately $14.5 million has been invested to complete fully engineered plans, platted lots, and infrastructure. The current plans have 99 residential lots and 16 acres of land zoned commercial.

Phase I was competed in the southwestern portion of the property which includes the concrete, two lane road extension of Oak Bluff Drive (currently a street out of Serendipity Hills development with the homes ranging from $500,000 to over $1 million) and several unnamed cul-de-sacs with street lighting and utilities for +/- 20 lots. The opportunity for development still exists and would be the highest and best use for the property.

Current Zoning:The current zoning is PD-36 and allows for 99+ single family lots (minimum 0.5 acre lots) and 16 acres of commercial land (250,000 sf). However, with a thoughtful new plan, the town of Corinth appears willing to support a revised plan with higher density. Additionally, the city has indicated that economic incentives may be available for the property.

City/Demographics/School:The city of Corinth has a current population of over 22,000 and expected to grow over 15% during the next 5 years. Known as the hidden jewel of the lake area and with an average household income over $116,000, the Dallas Morning News has ranked it as one of the best neighborhoods in North Texas.

The property is in the highly regarded Lake Dallas Independent School District which was recently rated Superior and has a zero percent dropout rate.

Recreation: The property offers an abundance of recreational opportunities including fishing, boating, jet skiing, and water skiing as well as equestrian opportunities.

Minerals: Contact Listing Broker for information on Minerals.

This ranch is being offered For Sale and is Exclusively Listed by Harlan Ray & David Burgher of Briggs Freeman Sotheby's International Realty.

Buyers brokers must be identified on first contact, and must accompany buying prospect on first showing to be allowed full fee participation. If this condition is not met, fee participation will be at sole discretion of the Listing Broker. Prospects may be required to provide proof of funds prior to scheduling a showing.