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4445 N Farm Rd 2723, Mt Vernon, TX 75457
$2,500,000
4445 N Farm Rd 2723, Mt Vernon, TX 75457View this property at 4445 N Farm Rd 2723, Mt Vernon, TX 75457
4445 N Farm Rd 2723Mt VernonTX75457
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Property Description
Constructed in 2004, The Cove operates as a waterfront restaurant coupled with vacation rentals, live music entertainment, volleyball, on-water gas station pumps, and incredible views of Lake Cypress Springs. This opportunity presents a distinctive and attractive prospect for investors seeking to capitalize on a once in a lifetime opportunity. The massive potential lies in the additional waterfront land that comes with the purchase of this investment. As the only restaurant on Lake Cypress Springs, The Cove is infamous as a destination location for boaters on the water. With its proven track record and established presence, this commercial property is ready for the savvy investor to take advantage of its potential. The breathtaking views and charm of the four vacations rentals located on site make this a great retreat for those traveling from out of town. There is a private cove with lake frontage for all guests to enjoy while staying on the property. This opportunity offers a reliable source of rental income from vacationers seeking to indulge in the stunning views and recreational activities available at Lake Cypress Springs. The gas station and restaurant further enhance the property's revenue potential, catering to both locals and tourists passing through the area. As the prime location on the lake, investors will see the lucrative potential that comes with the undeveloped waterfront land adjacent to the restaurant. With a proven track record of success since its establishment in 2004, this commercial property is a turnkey operation for investors looking to take advantage of the growing hospitality industry in the area. Don't miss out on this once-in-a-lifetime opportunity to own a successful business on Lake Cypress Springs. This exceptional commercial property opportunity is a gem not to be missed. Reach out to take a private tour today.
Full Property Details
Full Property Details for 4445 N Farm Rd 2723
General
- Price: $2,500,000
- Status: Active
- Type: Commercial
- MLS ID: 24004111
- Updated: 4/3/2024
- Added to Site: 36 day(s) ago
Business
- Misc. Information: Security System, Security Lighting, Outside Storage
Additional Information
- Improvements: Storage Building, Miscellaneous Building(s), Paved Interior Roads, Lake
Parking
- Parking: Off Street, Additional Parking Avail, Other/See Remarks
Location
- County: Franklin
- Driving Directions: From I-30 East, take Exit 146 towards TX-37 toward Clarksville / Winnsboro. Turn Right Turn left onto FM 21 / FM-21 about a mile down A little over 3 miles, Turn right onto FM 2723 / FM-2723 Keep right to stay on FM 2723 / FM-2723 for a little under 2 miles Arrive at FM 2723 on your left hand side. The last intersection before your destination is County Road SE 4230. If you reach Overlook Park Rd, you've gone too far
Heating & Cooling
- Cooling Type: Central Electric
- Heating Type: Central Electric
Utilities
- Sewer: Public Sewer
- Water: Municipal Utility Distric
Structural Information
- Exterior Const.: Wood/ Frame, Wood Based Siding
- Ceiling Height: 11-15 Feet
- Square Feet: 4,246
- Sq. Ft. Source: Franklin C
- Current Bldg. Use: Recreational
- Year Built: 2004
- Year Built Source: Franklin CAD
Lot Features
- Lot Size (Acres): 3.852
- Lot Size Source: Franklin CAD
- Lot Dimensions: 150 x 530
- Frontage: County Maintained Road, All Weather
- Street/Road Desc.: Concrete, Asphalt, All Weather
- Topography: Level
- Potential Use: Retail, Office, Special Purposes, Restaurants, Other/See Remarks
- Zoning: Planned Unit Res District, Commercial, Retail, Office, Multi Family Dwelling, Other/See Remarks
Water Features
- Water Front: Yes
Financial Considerations
- Terms: Conventional, FHA, VA, Must Qualify, Cash
- Tenant Pays: All Utilities
Disclosures and Reports
- Docs Filed: Survey Plat, Legal Description, Aerial Survey, Floor
- Surveyed: Other/See Remarks
Listed by Texas Ally Real Estate Group, Jennifer Hageman
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Schools
Schools serving 4445 N Farm Rd 2723
School District:Mount Vernon Independent School District
Rating | Name | Grades | Distance |
---|---|---|---|
501 Texas Highway 37, Mount Vernon, TX 75457 | PK-4 | 8.3 mi | |
Mt. Vernon Independent School
501 Texas 37, Mount Vernon, TX 75457 | 5-6 | 8.4 mi | |
501 Texas Highway 37, Mount Vernon, TX 75457 | 7-8 | 8.4 mi | |
501 Texas Highway 37, Mount Vernon, TX 75457 | 9-12 | 8.4 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 4445 N Farm Rd 2723
Date
Details
Price
Change
Source
3/24/2024
Listed
$2,500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 4445 N Farm Rd 2723
Year
Property Taxes
Change
Tax Assessment
Change
2021
$10,789
—
$1,488,040
99%
2021
$10,789
—
$749,010
12%
2021
$10,789
—
$669,600
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 4445 N Farm Rd 2723
4445 N Farm Rd 2723, Mt Vernon, TX 75457 (MLS# 24004111) is a Commercial property. 4445 N Farm Rd 2723 is currently listed for $2,500,000 and was received on March 24, 2024. Want to learn more about 4445 N Farm Rd 2723? Do you have questions about finding other Commercial real estate for sale in Mt Vernon? You can browse all Mt Vernon real estate or contact a Coldwell Banker agent to request more information.