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$ 495,000
Est. payment | /mo
5.14 Acres Lot
$ 495,000
Est. payment | /mo
5.14 Acres Lot
Key Details
Property Type Vacant Land, Commercial
Sub Type Commercial Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1785151
Annual Tax Amount $5,168
Lot Size 5.142 Acres
Acres 5.14
Property Sub-Type Commercial Land
Property Description
Vacant lot in Northcliff. This land it zoned for office and commercial. The Property has preliminary approval from the City of Schertz for eight flex office buildings totaling 64,800 square feet. The planned multi-tenant use development is strategically targeted to meet office uses for healthcare, entrepreneurial and professional uses. The office vacancy rate within a five-mile radius is 5.1 percent for 646,000 square feet of total inventory with a trailing twelve absorption rate of 52,000 square feet and only 31,000 square feet under construction (or 4.8 percent of the total inventory). Given the aforementioned statistics, flex office is projected as the highest and best use in order to meet the project growth demands along the I-35 corridor. Within a five-mile radius, the Property has a populous of 92,224 people with 34,064 household pursuant to estimates for 2023. Since 2010, the immediate area has enjoyed over a forty-four percent cumulative growth rate with an expected continued growth rate of an additional ten percent through 2028.
Location
State TX
County Guadalupe
Area 2705
Zoning OP OFFICE OR PROFESSIONAL
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Joe Burrage • Keller Williams Heritage • (210) 383-1246