FM 1105 -1
Georgetown, TX 78626
Georgetown Land Tract · Land For Sale · 262.49 AC

Marcus & Millichap is pleased to exclusively offer for sale a 262.49 acre tract located on FM 1105 in Georgetown, TX. This Property is a prime development opportunity located 10.4 miles away from the heart of Georgetown, TX. The property is in the Georgetown ISD and has access from FM 1105. Nearby growth has been staggering - a 92.8% population increase was recorded within 5 miles of the site and a 45.1% population increase was recorded within 10 miles of the site, both between 2010-2021, respectively. Average household income is strong as well - $91,462 within 5 miles of the site and $114,647 within 10 miles of the site, respectively. The site is roughly 6 minutes (4.4 miles) from Interstate 35, allowing access to other major cities such as Round Rock (20.0 miles), Temple (37.4 miles), Austin (38.0 miles), and more. A neighboring property is in the process of bringing City water to their site. Seller is a paying a share of this cost to size the water line to accommodate use by both properties. Buyer will be responsible for all costs associated with tapping into the water line and bringing water on site from the neighboring property. The Property was originally planned for 167 one acre lots which was based on water service from on site well water. With City water now available to the Property, there is now opportunity for a buyer to increase density to approximately 300 lots ranging in size from 0.6 to 0.8 acre sized lots. Development of single family homes for this site is predicated on using septic for waste water, however City sewer is roughly 4 miles away. Prospective buyers should underwrite the opportunity of bringing City sewer to the site and increasing lot count to 4-5 lots per acre and evaluating if a 300 generous-sized lot development plan or a dense 900 lot development better meets their sales program. Besides the opportunity to increase lot density, the Property also sits in an Opportunity Zone thereby increasing buyers ability to capitalize on favorable tax advantages.