960 W Hwy 20
About This Property
Rarely does a parcel of this size, character, and zoning become available in one of Freeport's fastest-growing corridors.
Encompassing approximately 4.93 acres, this exceptional property is zoned Residential/Neighborhood Commercial (RC), allowing for an extensive range of residential, commercial, office, retail, and mixed-use development opportunities, subject to City approval.
Positioned just minutes from the US Highway 331 and Highway 20 intersection, the property sits within the path of Freeport's continued growth, surrounded by expanding residential communities, new commercial development, schools, healthcare, and retail services. Unlike many development sites, this property offers beautiful mature live oak trees, impressive natural elevation, and an exceptionally wide footprint, creating a distinctive canvas for thoughtful development. Existing improvements are located on the property; however, the primary value lies in the land and its outstanding development potential.
The RC zoning district is designed to encourage a vibrant blend of residential and neighborhood commercial uses, making this an ideal opportunity for apartments, townhomes, professional offices, retail, restaurants, mixed-use concepts, medical offices, office parks, or other compatible development permitted under the City's land development regulations.
Large, well-located parcels with this level of zoning flexibility are becoming increasingly difficult to find in Freeport.
Buyer to verify zoning, permitted uses, density, utilities, dimensions, and all development requirements.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 20, 2026 | Listed by EXP Realty LLC | $1,325,000 | |
| Listed by EXP Realty LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017