Investment Overview

Marcus & Millichap is pleased to present this exclusive joint venture development opportunity for 7805 & 7809 South 1st Street, two parcels which collectively make up a 1.18 acre land tract in south Austin (the “Property”). The Property is zoned LR (both), SF-3 (7809 only) which provides for limited neighborhood commercial retail and of?ce services and single family, respectively. For the right developer, Seller is willing to contribute the land subject to terms to be negotiated in greater detail. From a location perspective, the Property is situated just north of the hard corner at South 1st Street (12,824 VPD) and West Dittmar Road (6,597 VPD). Williams Elementary School is roughly 2 blocks south of the Property with Bedichek Middle School six-tenths of a mile to the north. Within a 5-mile radius, area demographics provide for 118,522 households, of which 45 percent have college degree, and an average household income of $96,404. South of the river, 1st Street is primarily a residential corridor with intermittent commercial. Given the demographics, highest and best use would include neighborhood related services such as: retail, medical, of?ce, or ?ex, (with mixed-use also a possibility). With necessary development entitlement, approvals and permits typically taking three or more years with the city of Austin, this joint venture development offers developers the opportunity to increase returns by not having to tie up capital related to land acquisition. Contact the broker to discuss potential deal terms and exit strategy upon stabilization.