Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale 1304 & 1306 E 51st St, Austin, TX 78723. These two lots are comprised of a gross 0.558 AC. 1304 E 51st is currently known as Paco's Tacos, a 1,297 SF restaurant building, and 1306 E 51st St includes a 728 SF house/office property, which is presently leased to Adaptive Communications on a month-to-month basis at a gross rent of $1,300/month. The restaurant site would convey vacant to a new user, and includes a stage for live music, two kitchens in both the main structure and the cantina, and a full bar in the cantina. Seller would discontinue the Paco's Tacos name prior to Closing. The restaurant component is comprised of the main building and the cantina, sports a large parking lot and outdoor seating. A current equipment list is available upon request. Both properties are zoned GR-MU-V-CO-NP, providing long term upside through a potential redevelopment in the future. Ownership recently purchased new surveys for both tracts. They must be sold together. These lots are situated on E 51st St (11,587 VPD), and both properties sport driveways from E 51st. The area has benefited from extensive growth with the Mueller development, including new multifamily units such as the Solomon, AMLI, Aldrich 51, and more. Directly due south is the several hundred thousand square feet of retail on Barbara Jordan, inclusive of Home Depot, Best Buy, Marshall's, Sprouts, Twin Liquors, and many more. Additionally, the site is proximate to the Dell Children's Medical Center. As such, the nearby demographics are strong - a 7.91 percent population increase was recorded between 2020-2025 with AHHI of $130,016, both within a mile radius of the site. Tours available upon request, please contact broker as the business is operating at present.