Description
30% below appraisal, Panoramic views of Downtown skyline, State Capital, & UT Tower. Owner says "bring offers." Advantageously located between Downtown & the International Airport this highly traveled location sees 41,000 VPD and is 1 block east of major intersection - Riverside & Pleasant Valley. Owner willing to carry 2nd note.
Mixed use zoning allows for a range of uses including commercial, multi-family, and hospitality. 80% complete plans included to build a 176 unit multi-family development. Finish seller's plans or develop your own vision. Also great land hold.
5.1 acres also for sale next door - assembled together would total 10.4+ contiguous mixed-use acres.
Quickly transitioning high growth area with major projects in the development pipeline including Star Riverside/Luxe Luxury Condos, Grayco's 30 acre mixed-use re-development, & Amli Apartments. Walking distance from proposed future Transit Overlay District (TOD) light rail stop running to downtown and the airport.
Available Studies: Phase I Environmental, Geotechnical, Survey
Forbes recently ranked Austin as the #1 "Best Bang for the Buck City" in the US. Forbes says, "The economic storm sweeping the country has left Americans with few places to hide... those looking to hunker down might want to head to Texas, where they can get the best value for their dollar. Residents enjoy affordable housing and promising prospects for job growth in coming years. "Texas, as a whole, is one of the few economies performing extremely well because of the energy and technology sectors."
Uses within the immediate vicinity include a mix of student housing, apartments, and SF neighborhoods. Riverside Dr. is the main thoroughfare through the area; accordingly the majority of commercial goods and services are located on this corridor. Easy access to major thoroughfares I-35, Ben White, Hwy. 71 & 290. Major area employers include AMD, Motorola, IRS, Sematech, & Tokyo Electronics. 3 mi. to Downtown, 5 mi. to Airport, 4 mi. to University of Texas, 2 mi. to ACC Campus.