Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale the Rowe Lane Development Opportunity located at 2510 Rowe Ln, Pflugerville TX, 78660 (defined as Lot 2 in the attached site plan). This 4.0 AC, mixed use site will be shovel ready by closing for a new developer to break ground, with drawings and approvals in place for a 131,170 SF development. The planned development would consist of 64 town-homes (2 & 3 bed) and retail units for lease. The site is located 8.1 miles to the Samsung Semiconductor plant in Taylor, Texas and is proximate to the brand new Samsung Highway (11.3mi). Nearby demographics in the area are strong - a $139,975 annual household income was recorded with an expected population growth of 11.1 percent in the next 5 years, both within 3 miles of the site. The site is proximate to Highway 130, allowing for easy access to Austin, Round Rock, and Hutto. The surrounding area is densely populated with up and coming neighborhoods, such as Meadows of Blackhawk, The Estates of Rowe Lane, Rolling Meadows, and more. Several schools are within direct proximity as well, such as Rowe Lane Elementary, Abacus Children's Academy, Ashford Montessori, and more. There are few town-homes avaliable for sale in Pflugerville proper as well, making this a unique development and offering for families looking to move into a new construction home in the area that is well located on Rowe Ln, the major arterial for east Pflugerville. Lastly, with the distinct lack of retail in the area, the retail offerings are poised to do well for local mom and pop tenants, such as an cafe, pastry shop, dentist, etc. Assuming a new developer assumes the current project, constructs, sells the town-homes, and leases the retail component (3 year timeline, disposition in year 4), a levered cash on cash of 2.49x is possible at disposition at a proforma terminal CAP rate of 7.00 percent. Please see lead agent for details on proforma anaylsis, buyer responsible for their own underwriting and assumptions.