prime nw austin re-development site · prime nw austin re-development site north fm 620 &...
TRANSCRIPT
PRIME NW AUSTIN RE-DEVELOPMENT SITE
NORTH FM 620 & ANDERSON MILL ROAD INTERSECTION
"WOODLANDS GREEN GOLF CENTER"
14.704 acres / 640,650 SF | $6,400,000 / $10 PSF
PROPERTY HIGHLIGHTS
• Prime Northwest Austin Re-Development Site – 14.709 Acres/640,650 SF • “Main & Main” location – North RR 620 & Anderson Mill Rd. • City of Austin 2-Mile ETJ - No City of Austin Zoning Limitations • All Utilities Available to the site • Great access to major transit corridors: N. RR 620, US Hwy 183, SH 45 Toll-Way • High Traffic Counts – 18,000 – 40,000+ VPD • Superior Population and Income Demographics: o Population 167,000 with 14% Projected Growth Increase by 2023 o 65,000 Households growing 14% to 74,000 by 2023 o Average Household Income - $123,000/Yr. • Within minutes of Lakeline Mall, Apple Corporate Campus, Four Points/2222 • Higher Density Suburban Residential Area with pockets of higher density Urban Development • High concentrations of Retail, Restaurant and Community Services availability • Higher than normal Impervious Cover Allowances • Priced to sell - $10.00 PSF or $6,400,000.00
EXECUTIVE SUMMARY
.VRA Commercial Real Estate and Currin Van Eman have been exclusivelyretained for marketing and sale of 11214 North RR 620, in northwest Austin. Thisprime re-development site is currently the Woodland Greens Golf Driving Rangeand is located directly across from the 166,000 SF HEB plus and Plaza VolenteShopping Center at the intersection of North RR 620 and Anderson Mill Rd. This site offers a rare opportunity for re-development of 14.704 acres ofcontiguous land in the Cedar Park / Leander area, one of the fastest growingareas of Austin, Texas. This location is in the City of Austin’s 2-mile ETJ and notconstrained by the CoA full purpose zoning limits. The tract offers nearly 600’ offrontage and direct access to North Ranch Road 620, which is one of the mostheavily trafficked roadways in northwest Austin. Traffic counts along this stretchof 620 exceed 40,000 VPD, while traffic counts on the cross street, Anderson MillRd. range from 18,000 – 28,000 VPD. Both North Ranch Road 620 andAnderson Mill Rd. provide direct access to and intersect with US Hwy 183(Research Blvd.), the main freeway serving northwest Austin. Population within a 5-mile radius of the site is estimated at 167,000 for 2018 andexpected to grow to over 190,000 by 2023, an over 14% growth rate over thenext 5 years. From 2010 to 2018, this area experienced a better than 18% growthrate, on of the highest in the state. 65,000 households are within 5 miles of thesite and are expected to grow nearly 14% to 74,000+ households by 2023, after a16% increase from 2010-2018. Average Household Incomes within a mile of thesite are nearly $123,000 per year, some of the highest in Travis and Williamsoncounties.
EXECUTIVE SUMMARY CONT.
Woodland Greens is at “Main and Main” in northwest Austin and offers easyaccess from RR 620, Anderson Mill Rd., US Hwy 183 (Research Blvd.) and theSH 45 Toll-Way from Interstate 35. The 1,100,000 SF Lakeline Regional Mall isjust 2 minutes up 620 and Apple Incorporated’s 1 million SF+ corporate campusis just 10 minutes away. There is an abundance of retail, services and housing invery close proximity to the site as well as many local, regional and nationalfranchise dining selections, including; Jersey Mikes, Sonic, Wendy’s, HEB,Torchy’s Tacos, Starbucks, Walgreens, CVS and many more. Storm water run-off from the site flows into two different watersheds, the LakeTravis Watershed to the west and the Bull Creek Watershed to the east, asillustrated by the “Watershed Boundary Map” included in the marketing package.Current watershed Impervious Cover limitations are 20% for the Lake TravisWatershed and 40% for the Bull Creek Watershed, so the site would have animpervious cover limitation average between 20%-40%, calculated by how muchsite area lies within the respective watershed, under current watershedstandards. However, we believe there may be the possibility of an HB 1704“Grandfathering” of Impervious Cover limitations back to 60% in the Lake TravisWatershed area. An attorney is currently evaluating this possibility and willprovide an opinion letter when complete. The 640,650 SF site is priced to sell at just $10.00 PSF or $6,400,000.00.
LOCATION MAP
WATERSHED BOUNDARY MAP
SURVEY
TRAFFIC COUNTS
Collection Street Ranch Road 620 North Anderson Mill Rd. Anderson Mill Rd. US 183 | Research Blvd. SH 45 Toll-Way (RR 620)
Cross Street North of Anderson Mill Rd. Windy Ridge Rd (W. of 620) East of RR 620 N RR 620/SH 45 Intersection North of US 183 | Research Blvd.
Traffic Vol 43,000 18,000 28,000 116,000 56,000
Distance 0.04 mi 0.03 mi 0.30 mi 2.18 mi 2.46 mi
TRAFFIC COUNTS
AERIAL
LOCAL AMENITIES MAP
AREA DEMOGRAPHICS
Population:
2023 Projection
2018 Estimate
2010 Census
Growth 2018-2023
Growth 2010-2018
Households:
2023 Projection
2018 Estimate
2010 Census
Growth 2018 - 2023
Growth 2010 - 2018
2018 Avg Household Income
9,804
8,699
8,298
12.70%
4.83%
1- mile
3,530
3,150
3,091
12.06%
1.91%
$122,988
80,758
70,811
60,287
14.05%
17.46%
3- mile
30,689
26,994
23,348
13.69%
15.62%
$116,745
190,881
167,063
141,470
14.26%
18.09%
5- mile
74,171
65,199
56,288
13.76%
15.83%
$115,318
• Austin is ranked America’s #1 Fastest Growing City • Austin metropolitan population is over 2 Million and is the 11th largest city in U.S. Austin Economy is ranked #1 in the country Since 2000, employment in the Austin area has expanded 52.3%, over 15 percentage points more than Dallas-Ft. Worth or Houston • Austin ABIA Airport is ranked #1 High Tech Airport Austin ranked #1 Greatest Music City in America and is the “Live Music Capital of the World” with over 250 Live Music Venues Austin’s Total Annual Visitors exceed 24.1 Million and contribute over $7 Billion in spending per year. • Austin is ranked #1 city for Tech Businesses. Austin is ranked as a “Top Meeting Destination in the US” by the Convention Meeting Association. • Austin averages 300 days per year of Sunshine and has an average annual temperature of 70 degrees Austin ranked #1 city for film making in North America and ranked best city to Live and Make Movies. • Texas is a Non Income Taxing state and Austin has an 8.25% Sales Tax and just a 15% HOT (Hotel Occupancy Tax) • The Austin area is a growth corridor that is expanding more rapidly than any other in the nation and the area is home to 3 of the nation’s 10 fastest-growing counties.
AREA HIGHLIGHTS
