607-611 Nelray Blvd - Commercial LAND FOR SALE


Austin, TX 78751 24,476 SF
$2,295,000 USD
512-762-8669
607-611 Nelray Blvd, Austin, TX for Sale
$2,295,000 USD
Commercial LAND - FOR SALE
1/35
24,476 SF

607-611 Nelray Blvd
Austin, TX 78751


HIGHLIGHTS

  • 24,477 sq feet of MF-3 Zoned, flat with few trees, perfect for redevelopment.
  • Amazing location next to N Lamar and North Loop areas.
  • 100% rented for income while planning your project.
  • Great opportunity to build a 40 unit MF in this high demand area.

OVERVIEW

Fantastic land cover play. Collect rent while getting permits and plans for construction. Perfect lots for development as this area demand is extremely high. The location is a huge plus as this is only a couple of blocks of the north Lamar booming area with lots of high end , stores, shops, restaurants etc. Easy access to both I 35 and Mopac and located in the TOD corridor so lots of transportation options. Below are a couple of development options: 1. You can design three SFH on each lot, and cross access between lots. This will save you time and money since you will not need to file for a subdivision , which will reduce engineering fees and city fees and review time. Each lot will have its own plans and permits. But you will get 9 buildings with separate meters etc. 2. You can combine the lots and file for a subdivision. This will incur engineering fees and city review time. ( designing the complete project and subdivision can be concurrent with site plan). The cost for a subdivision in COA ( if done with a site plan for complete project will be around $55.000.00) followed by a site plan approx. costs 100,000.00. In both scenarios if you stick to regular zoning and density, you are maximum allowed 19 units. However, if you go by the affordable housing incentive, you can get 35-40 units. Although, parking will be 22-35 max. Rest of the units will not have parking, which the city allows in affordable housing option. Topo surveys attached. Zoning info also attached.

FOR SALE DETAILS

PRICE

$2,295,000 USD

PRICE/ACRE

$4,084,251/AC

PRICE/SF

$94 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

24,477 Sqft of MF-3 zoned over 3 properties.

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Multi-Family

LAND ACRES

0.56 AC

LAND SF

24,477 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Gas, Streets, Curb/Gutter/Sidewalk, Cable

ZONING

MF-3-CO-ETOD-DBETOD-NP

APN/PARCEL ID

226606,226607,226623

ASK ABOUT THIS PROPERTY

Tony LazarovREsavvy, LLCMore Info
512-762-8669

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Tony LazarovREsavvy, LLCMore Info
512-762-8669

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.