Investment Overview

Marcus & Millichap is pleased to exclusively list for sale 2.33 Acres in the First Colony neighborhood, located on Cartwright Road and close to the intersection of Dulles Avenue and Highway 6. The property is in a commercial section of the intersection of Dulles Avenue/Austin Parkway and Highway 6. There are over 22,000 vehicle per day (2020) on the corner of Dulles Avenue & Cartwright Road and over 58,000 vehicles per day on corner of Dulles Avenue & Highway 6 (2020). Commercial properties include, two day care facilities, office condos, self-storage, retail centers and restaurants. This site is the last vacant land in this commercial quadrant. The property has frontage on Cartwright Road which is a West to East route through Missouri City and becomes FM 3345 and connects to FM 2234 which leads into Pearland. Traffic counts in front of the property on Cartwright Road are over 14,000 (2018 data) . Dulles Avenue is a North to South route that connects to Stafford, Missouri City and into Sugar Land. To the south, Dulles Avenue connects to Austin Parkway curving into First Colony Mall in Sugar Land. To the north, Dulles Avenue connects to Highway 90 and into South Kirkwood Road which leads up to Westpark Tollway. The site is directly across the street from Plantation neighborhoods and north of Riverstone community. The property is down the street from Fort Bend Family YMCA, Southminster Presbyterian Church & School and the Oyster Creek Walking / Bike Trail. It is also near by Lexington Creek Elementary and Austin Parkway Elementary Schools, which are highly rated schools in Missouri City. The property's location is ideal as it is an affluent area and on the cusp of the Missouri City and Sugar Land border in First Colony. The property is zoned PD-LC-3 which allows for a variety of commercial options. However, the site is ready to be permitted for a 40 unit assisted living or memory care facility. Included in the price are architectural and engineering drawings for the design. A more intimate type seniors housing facility would be ideal as there are limited options of smaller facilities in this area. According to third party reports, there is an unmet demand of over 100 assisted living and/or memory care beds within a three mile radius and 200 assisted living and/or memory care beds within a five mile radius.