Magnificent incredible property that backs up to the Corps of Engineers land overlooking Lake Lavon. ±7.66 acres with a main house that is very nicely finished out. Property is currently used as residential but has tremendous commercial or development potential. The property is in the county and removed from the ETJ, however if a developer decides to bring in sewer from one of the nearby developments, then it would need to annex into the city. This is the last property on the right when leaving the peninsula. It would be ideal for a retail center or a mixed use type development. Perhaps homes, townhomes or apartments overlooking the lake in back. It is truly a unique offering and rare opportunity. Just minutes to major shopping in Allen and McKinney. About 20 minutes to Hwy 75 or about 10 minutes to 380 in Princeton. Walmart is about 10 minutes away in Lucas. Buyer to verify all information.
| Listing Id: | 21365280 |
|---|---|
| List Price: | $2,295,000 |
| Property Type: | Commercial Sale |
| Property Sub Type: | Unimproved Land |
| Status: | Active |
| Unexempt Taxes: | $3,834 |
| Lot Size Square Feet: | 333,669.6000 |
| Lot Size Acres: | 7.66 |
| Waterfront?: | Yes |
| City: | Princeton |
| County Or Parish: | Collin |
| Subdivision Name: | Sd Terry Surv Abs #890 |
| Postal Code: | 75407 |
| Year Built: | 1960 |
| Basement Yn: | No |
| Building Area Source: | Assessor |
| Building Area Total: | 2,086.00 |
| Building Use: | Other |
| Business Type: | Agriculture, Residential |
| Consent for Visitors to Record: | None |
| Cooling: | Central Air |
| Directions: | From Hwy 380 in Princeton go south on FM-982 to the peninsula. It will be the first property on the left when entering the peninsula. Use GPS. It is just feet north of the FM-982 CR-444 intersection. |
| Exclusions: | All personal property |
| Heating: | Propane |
| Listing Terms: | 1031 Exchange, Cash, Conventional, Owner Will Carry, Other |
| Lot Features: | Acreage, Adjacent to Greenbelt, Agricultural, Cleared, Few Trees, Irregular Lot, Water/Lake View |
| Lot Size: | 5 to < 10 Acres |
| Lot Size Area: | 7.6600 |
| Lot Size Source: | Assessor |
| Lot Size Units: | Acres |
| Multi Parcel ID: | Yes |
| Multi Zoning?: | Yes |
| Municipal Utility District?: | No |
| Notice Surveillance Devices Pres: | Audio, Video |
| Possession: | Negotiable |
| Postal Code Plus 4: | 4785 |
| Road Frontage Type: | FM Road |
| Sqft Gross: | 2,086 |
| Stories Total: | 1 |
| Utilities: | Aerobic Septic, Asphalt, Co-op Water, Electricity Connected, Individual Water Meter, Outside City Limits, Phone Available, Propane, Septic, Sewer Available, Unincorporated |
| Waterbody Name: | Lavon |
| Waterfront Features: | Lake Front Corps of Engineers |
| Will Subdivide: | Yes |
| Year Built Details: | Preowned |
| Zoning Description: | Un-zoned. In the county, not ETJ. |
Listing Courtesy of: Ebby Halliday, Realtors
Listing Agent: David Gloria
214-509-0808
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North Texas Real Estate Information Systems, Inc. data last updated on October 08, 2026 05:05 PM - CT
Property Last Updated: October 08, 2026 05:05 PM - CT
