Types of Commercial Land used for Development
See Our Commercial Land Listings Below
There are three main types of commercial land sales: greenfield, infill, and brownfield. These commercial lands are used for residential development, retail and industrial uses.
In Lubbock, Amarillo, and west Texas, agricultural land near city limits has become increasingly more valuable. Developers and builders are looking to buy land where the cost of land and bringing utilities to the development are still cost effective. Land development is out reaching city services and costs are elevating distances for utilities need to expand. Farm and ranch land is being purchased in record sales because of the housing demand. Finding a good commercial land agent can help with finding and purchasing the right land for your next development.
Greenfield land is undeveloped land that can be used for agricultural or other purposes. This type of land is often found in rural areas. Some examples of greenfield land include:
Unused land parcels.
This type of land is often on a waterway, near a highway off-ramp, or at the edge of a city, or town. This makes greenfield sites ideal spots for new commercial building construction, in the support of a region’s continuing growth.
Infill land is located in a city that has already been developed but is now vacant. Development on infill lots is called “filling in the gaps” by the National League of Cities. Consider a city or a suburban block where each plot of property has either a house or a business building, except for one vacant lot – perhaps an area where something was demolished, or it previously belonged to a neighboring firm and was split off; this is an infill lot.
Infill land in Lubbock, Amarillo and West Texas cities can be very affordable to a developer or builder. Lots and small acres (5-25 acres) can be found in the middle of older parts of the city, often in newer growth area passed over by larger tract sales. Some Sellers are not ready to sell when all the land around theirs is being sold, but these seller’s circumstances can quickly change, so continued communication with the family often pay’s off in the purchase of infill land.
Brownfields are commercial parcels of land that have been previously used for industrial or commercial purposes but are now available for redevelopment. Brownfield land may be contaminated with hazardous materials, which can make it difficult to reuse.
When working with these types of land, make sure to have a Phase I and if needed, a Phase II Environmental study completed.
Different Land Types for Different Uses
Each type of commercial land sale has its own benefits and drawbacks, so it’s important to choose the right type of sale for your needs.
For example, greenfield land may be less expensive than infill or brownfield land, but it may be further from populated areas and thus harder to develop. Brownfield land may come with environmental concerns that need to be addressed before development can begin.
Infill land is located in a city that has already been developed but is now vacant.
Brownfield land is land that was previously used for commercial or industrial purposes but is now available for redevelopment.
When considering a commercial land sale, it is important to consider the type of land that is best suited for your needs. Greenfield land may be more expensive but offers more flexibility in terms of development. Infill land may be less expensive but may come with more restrictions in terms of what can be built on it. Brownfield land may be the most affordable option but may require more cleanup and redevelopment work.
As always, it’s important to consult or work with someone who has extensive experience with different types of commercial land sales. David Powell and his associates at The Powell Group has completed millions of dollars in sales in the various types of land sales for both commercial and residential development.
To find out more Commercial Land use for Development in Lubbock, Amarillo and West Texas, contact David Powell with The Powell Group.
Featured Land Listings
NWC of CR 6100 and FM 179
Northwest Corner of Stone Hill St. & FM 179, Shallowater, TX 79363
Approximately 149 acres of farmland ready to be developed just South of Shallowater. This ideal location between Shallowater and Future Loop 88 gives this site potential for high traffic counts. Farm to Market Road 179 and Stonehill Street/CR 6100 are both paved allowing easy access.
SALE PRICE: $2,973,180
UNIT PRICE: $19,999 Per Acre
INDUSTRIAL & RESIDENTIAL LAND NEAR LOOP 88
Hwy 84, Posey, Slaton, TX 79364
Frontage on Hwy 84 & FM 1585. Posey Gin sits on tract C with 8 acres a 12,084 SF Gin and 1,176 SF office building. The Gin is selling off different size acreage tracts. Offering four ten-acre tracts with frontage on FM 1585/130th street (Site E). Approximately two half-acre tracts and a six-acre tract with frontage on Highway 84. Site A is approximately 80 acres with a 936 SF house on the property. See the map below for more details on tracts
SALE PRICE: $25,000 – 800,000
GROSS LAND AREA: 0.46 – 135 Acres
26.7 ACRES OF INVESTMENT LAND
9002 Upland Ave, Lubbock, TX 79424
26.7 Acres of land with 440 SF of frontage on Upland Avenue between 82nd & 98th Street in Southwest Lubbock. Property has a 40×60 Warehouse with two 12×12 overhead doors, five covered horse stalls, two gate entrances, and one 20 HP irrigation well and a 0.5 HP barn well. Electricity and water service active. Property has no septic system. Open Warehouse with office space and loft style storage space. Adjacent to a dense industrial area. Multiple-use possibilities include storage units, industrial park, large single-family acreage/duplex, hotel or apartment development, possible retail on Upland frontage, and much more.
Land is approximately 1/2 mile long running from Upland to Wausau. Land can be divisible contact broker for more details.
Friendship ISD District
SALE PRICE: $3,200,000
GROSS LAND AREA: 26.70 Acres
UNIT PRICE: $119,850 Per Acre