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- LoopNet Team
1608 E 12th St
Austin, TX 78702
Land For Sale
·
0.34 AC
Investment Highlights
- On a Highly Visible Corner of East 12th
- 1 Mile Away from TOD
- Zoning Allows for a Variety of Uses
- 1 Mile Away from Downtown Austin
- Excellent Development Opportunity
- Article in the news for multiple proposed mixed use sites totaling 258,000 SQFT from Eureka Holdings LLC
Property Facts
Description
Executive Summary: -On a highly visible corner of E 12th this redevelopment opportunity gives developers a chance to get in on the highly sought-after section of E 12th. Conveniently located near a TOD corridor 1608 E 12th and 1204 Leona are ideally located a little more than 1 mile away from downtown Austin and E 7th St. -Two buildings exist on the properties. A 3,220 sqft auto mechanic shop and a 1,291 sqft home. The properties combine to extend over .3409 acres or 14,849.60 sqft. -This unique site gives a developer the ability to create a high-density mix use development for office/retail and residential uses or for an owner user looking to be in the center of East Austin. -Based on a third-party initial review of the City of Austin’s zoning for the site, we have been informed that a mixed-use development site would likely allow for a 2:1 FAR, and about 9,400 sqft per floor, up to three floors. A bonus is allowed if affordable housing of at least 10% is included and meets the City’s requirements, the development could go up to four floors at 9,400 sqft per floor for a 37,600 sqft development. These occupied floors could be elevated over surface parking if desired.
Property Taxes
| Parcel Number | 197271 | Improvements Assessment | $0 |
| Land Assessment | $1,800,000 | Total Assessment | $1,800,000 |
Property Taxes
