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2448 S 1st St 2,439 SF Retail Building Austin, TX 78704 $3,099,900 ($1,270.97/SF)
Investment Highlights
- Base zoning district allows a wide range of commercial uses, incl: Restaurants, Retail, Bars (subject to spacing rules), Personal services, Office
- DBETOD-Density Bonus, Allows add'l height, density, or floor-area ratio, in exchange for: Affordable housing participation, Optional ,not mandatory
- Vertical Mixed Use (Combining District), allows residential units above ground-floor commercial, Encourages denser, urban development.
Executive Summary
Unique opportunity to acquire two contiguous lots, 2448 So. 1st and 2508 So. 1st, Combined area of both lots is approx 14,583 square feet, improved with an operating restaurant, including land, building, and all associated FF&E. The business has successfully operated at this location for over 25 years, reflecting long-term stability and market presence. Situated just over two miles from Downtown Austin in the highly sought-after 78704 area, the property has been well-maintained. A successfully negotiated sales contract might allow the Buyer to have a strong reliable restaurant tenant while Buyer goes thru the process of redevelopment, should that be the future use of the property.
There is much more value in the land than as an operating restaurant.
The Value and emphasizes should focus on the land value and zoning. Location and Zoning makes this property ideal. Currently zoned, CS-V, VMU overlay, ETOD location, Density Bonus opportunities, South First St frontage, Existing incoe-producing restaurant & improvements.
There is much more value in the land than as an operating restaurant.
The Value and emphasizes should focus on the land value and zoning. Location and Zoning makes this property ideal. Currently zoned, CS-V, VMU overlay, ETOD location, Density Bonus opportunities, South First St frontage, Existing incoe-producing restaurant & improvements.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
2,439 SF
Building Class
C
Year Built
1963
Price
$3,099,900
Price Per SF
$1,270.97
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Lot Size
0.16 AC
Zoning
CS - Zoning is CS-V-ETOD-DBETOD, offering significant long-term redevelopment and density potential. CS zoning permits a wide range of commercial uses.
Parking
26 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 305700 | Improvements Assessment | $50,742 |
| Land Assessment | $966,000 | Total Assessment | $1,016,742 |
Property Taxes
Parcel Number
305700
Land Assessment
$966,000
Improvements Assessment
$50,742
Total Assessment
$1,016,742
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2448 S 1st St