Buy&Build (Land): 49 Acres, Melissa, TX + $27,000,000

Promise Land Realty
Jun 4
3 min read

Land Investment Opportunity

Price

$27,000,000

Off-Market Master Development Opportunity |

49+ Acres | Melissa, TX | $27,000,000

Entitled for 875 Units + 100K SF Retail |

High-Growth DFW Submarket

Introducing an extraordinary, shovel-ready mixed-use development site located on the West side of Telephone Road in Melissa, TX—one of North Texas’ fastest-growing corridors. This 49+ acre tract is entitled for 875 multifamily unitsand 100,000 SF of retail, with the northern portion supporting approximately 600+ units on its own.

This is a premium off-market opportunity to acquire a site with scale, infrastructure, and approvals in motion. The Planning & Zoning Commission has approved the development, and final City Council approval is scheduled for next Tuesday.

Project Overview – West Side (For Sale)

875 Multifamily Units
100,000 SF of Retail Space
49+ Acres Total
Entitled and Approved by P&Z
Utilities & Infrastructure in Progress

Additional Context – East Side (Not Included in Sale, for Reference)

200,000 SF of Commercial Space
Medical Facility Planned
Sports Complex / Sports Area(Included in marketing materials to illustrate full scope of regional growth)

Development Highlights

Land Purchase Price: $27,000,000
Site Plan + Engineering Completed
Utilities Accessible
High-Demand Submarket with Active Offer for 250 Units
Flexible Capitalization & Exit Options
Perfect for Institutional, REIT, or Build-to-Core Groups

Financial Snapshot

Total Projected Cost (West Side): ~$231.5M
- Land: $27M
- Multifamily Construction (875 Units @ $180K/unit): $157.5M
- Retail Development (100,000 SF @ $480/SF): $48M
Capital Stack (Sample Model):
- Senior Loan: ~$211M (65%)
- Preferred Equity: ~$32.5M (10%)
- Developer Equity: ~$82M (25%)

Status & Timeline

P&Z Approved (Thursday)
City Council Final Approval Scheduled (Next Tuesday)
Due Diligence Materials, Site Plans, and Financials Available
Link to Site Plans & Documents:Access Development Folder

This is a once-in-a-cycle opportunity to acquire a prime North Dallas-area development with true scale, speed, and mixed-use upside. Anchored by 875 residential units and 100,000 SF of retail, the Melissa Project is positioned to deliver strong returns across multiple asset classes.

Submit all offers and inquiries directly to:investments@promiselandrealtyllc.com

Property Map

TEAM PROMISELAND DISCLAIMER

This listing is exclusive to Team Promiseland and may not be marketed, redistributed, or promoted without express written permission or active membership in the TEAM PROMISELAND affiliate network. Unauthorized distribution of this opportunity will result in a $500 penalty per occurrence.

All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top.

OFFICIAL PROMISELAND LENDING PARTNER