617 W 5th St
Austin, TX 78701
Downtown Austin Ground Lease (30% Interest) · Land For Sale
·
0.40 AC
Investment Highlights
- Prime, High-Traffic Location in Austin's CBD (Market District)
- No Capitol View Corridor Restrictions
- Redevelopment Opportunity Post-Lease Expiry
Property Facts
| Property Type | Land | Proposed Use | Mixed Use |
| Property Subtype | Commercial | Total Lot Size | 0.40 AC |
| Zoning | CBD - Central Business District (CBD) is intended for an office, commercial, residential, or civic use located in the downtown area. | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Mixed Use |
| Total Lot Size | 0.40 AC |
| Zoning | CBD - Central Business District (CBD) is intended for an office, commercial, residential, or civic use located in the downtown area. |
Description
Capital and Land Advisors is pleased to present this unique wealth preservation opportunity located at the northwest corner of W 5th St and Rio Grande St within Austin's Central Business District (CBD). This opportunity represents an undivided 30% interest in 0.4055 acres (17,663 SF) at 611-617 W 5th St, Austin, TX. The Property is currently ground-leased to Truist Bank with improvements including a 3-story office building with a bank drive-thru. Upon expiration of the ground lease, the Property will be ideal for a MXU, high-rise development in one of the fastest growing CBDs in the country averaging 137,000 daily visits. Located in Austin's Market District, one block from the lively "West Sixth" area known for its dynamic cluster of bars, restaurants, and entertainment. CBD zoning allows for a diverse MXU development. Property is NOT subject to Capitol View Corridor height restrictions. Near major employers including Whole Foods HQ, The State of Texas, Google, Meta, Amazon and more. 900 feet from Austin's future Light Rail Project.
