Investment Overview

Marcus & Millichap is pleased to offer for sale, a 194.28-acre tract in Elgin, TX (the “Property”). The Property is offered in its entirety but can be subdivided into three tracts of 98.08-. 32.07- and 64.13-acre tracts respectively or some combination thereof. The Property has approximately 85 acres in the 100-year flood plain. The Property lies in the County and not in the ETJ or Elgin Proper. Aqua WSC hold the CCN for water for the site and has previously approved 7 LUE’s for the 98.08 acre tract. The present highest and best use for the Property would be for the development of roughly fourteen to fifteen 10-14 acre ranchettes. With intelligent design, a land plan could subdivide the Property into ranchettes that would disburse and minimize the impact of flood plain for any one ranchette, leaving plenty of area for development of residence(s), barn(s), equipment sheds, etc. While subdividing the tracts is an option, it would make more economic sense for a developer to acquire the whole Property so that they could amortize their development cost over a greater land area and maximize profit. Nearby growth in the area has been strong - a 18.4 percent population increase was recorded from 2010-2022 with an average household income of $88,867, both within 3 miles of the site. The city of Elgin is situated 4.6 miles away, which provides access to Austin via US 290 and Bastrop (south) and Taylor (north) via Highway 95.