Investment Opportunity
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- Oswin Eugene Warren
- 6 years ago
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1 Improved Pad To Home Depot, Kohl s, Sports Authority & Bed, Bath & Beyond Property Summary: This land is is approximately 2.23 acres and can accommodate a 13,250 sf sf retail building and approximately 50 parking spaces. This pad is is improved with parking lot (an additional row of parking can be added) and all utilities. The property is is located in in the 300,000 sf sf Parkline Shopping Center whose tenants include Home Depot, Kohl s, Bed Bath & Beyond, Quiznos Subs, Sprint, Chipolte and Cold Stone Creamery. Super Target is is adjacent to to the south. Located across the street is is the 1.1 million sf sf Lakeline Mall whose tenants include Dillards, JC Penny, Sears, Brookstone and The Disney Store among others. The entire shopping center is is served by a completed water quality facility. All driveways to to the land parcel have been installed. Major improvements and enlargements are underway on Highway 183A which greatly improve traffic flow to to the site. The site is is zoned GR (general retail). Price and Cap: We offer this property at at $925,000 ($9.52 psf) Acres at Parkline Shopping Center Lakeline Blvd., Austin, Texas Parkline Shopping Center: Parkline Shopping Center is is a 300,000 square foot regional center located in in one of Austin s primary retail nodes. Parkline is is anchored by The Home Depot, Kohl s, Bed Bath & Beyond, and The Sports Authority and is is positioned to to enjoy outstanding visibility and access. The area around Parkline hosts a wide variety of national retailers, restaurants and service-oriented businesses in in over 2.5 million square feet, including: Wal-Mart Supercenter, Super Target, Lowe s, Linens N Things, Barnes & Noble, Petco, Petsmart, Toys R Us, Michael s, Ulta, Old Navy, Office Max, Dress Barn, Pier One, Office Depot, Foley s, Dillard s, JC Penney, and many more. Parkline is is situated in in southwest Williamson County one of the fastest growing counties in in the United States. Area retailers thrive on a population of about 61,775 people in in a 3-mile radius of the intersection of Lakeline Blvd. and US Hwy 183. The average household income in in a 3-mile radius is is $92,457 well above the national average of $67,000. With this density and purchasing power, along with the unique access advantage that Parkline will enjoy after the pending highway expansion, Parkline Shopping Center is is well poised to to serve this regional shopping area of Northwest Austin. Parkline is is the first site north of SH 45 with direct flyover access to to US Hwy 183A frontage roads, which opened for traffic in in 2Q Currently, US Hwy 183 carries roughly 55,000 vehicles per day, while SH 45 (RM 620) carries 31,000 vehicles per day. Lakeline Blvd., which borders Parkline on the north, is is also slated to to be expanded to to Parmer Lane in in Parkline will be the first major shopping center encountered by southbound traffic on US Hwy 183A. Both US Hwy 183A and the expansion of Lakeline Blvd. provide remarkable visibility and easy access to to Parkline. The retail sector in in the Austin market has remained strong over the last several years. In 2005, the market is is reporting stability in in rental rates, construction, and occupancy rates. As a result, the market conditions in in the retail sector should end 2005 on a note of continued strength. In June 2005, the overall occupancy rate for the Austin market stood at at 93.4%. This occupancy rate is is based on a total inventory of approximately 29 million square feet of retail space. The occupancy rate for this submarket of Austin is is 93.0%. The market should continue to toremain in in equilibrium as rapid development of new retail properties is is matched by the absorption rate. Parkline Shopping Center s dominant access off of future highway and road expansions, along with its existing anchors of Home Depot, Bed Bath & Beyond, The Sports Authority and Kohl s, all make it it the preeminent center in in the market.
2 Lot 5B has signage rights on Lakeline Blvd. Can Not Be Developed
3 Not Exact Outline
4 Site Super Target Super Target Site
5 Site
6 20 Minute Drive Time
7
8 2 K RD RD RD RD RD RD RD RD RD ND ND D RD CO FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET ROAD ROAD ROAD ROAD ROAD ROAD ROAD ROAD ROAD ANDERSON MILL RD ARKET ROAD 2769 Investment Opportunity COUNTY ROAD Average Income By Block Group Cedar Park, TX Cedar Park COUNTY ROAD 180 WHITESTONE BLVD LAKELINE LAKELINE LAKELINE LAKELINE LAKELINE LAKELINE LAKELINE LAKELINE LAKELINE BLVD BLVD BLVD BLVD BLVD BLVD BLVD BLVD BLVD BELL BELL BELL BELL BELL BELL BELL BELL BELL BLVD BLVD BLVD BLVD BLVD BLVD BLVD BLVD BLVD n Anderson Mill Miles 3.00 Miles 1.00 Mile NEENAH AVE COUNTY ROAD 178 COUNTY COUNTY COUNTY COUNTY COUNTY COUNTY COUNTY COUNTY COUNTY ROAD ROAD ROAD ROAD ROAD ROAD ROAD ROAD ROAD FARM-TO-MARKET ROAD 620 RD N 183 SPICEWOOD SPICEWOOD SPICEWOOD SPICEWOOD SPICEWOOD SPICEWOOD SPICEWOOD SPICEWOOD SPICEWOOD SPRINGS SPRINGS SPRINGS SPRINGS SPRINGS SPRINGS SPRINGS SPRINGS SPRINGS RD RD RD RD RD RD RD RD RD SAM PARMER PARMER PARMER PARMER PARMER PARMER PARMER PARMER PARMER LN LN LN LN LN LN LN LN LN BRUSHY CREEK RD Brushy Creek MC NEIL DR FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET FARM-TO-MARKET ROAD ROAD ROAD ROAD ROAD ROAD ROAD ROAD ROAD Jollyville COUNTY ROA B $100,000 or more $75,000 to $100,000 $50,000 to $75,000 $30,000 to $50,000 Less than $30,000 JOLLYVILLE JOLLYVILLE JOLLYVILLE JOLLYVILLE JOLLYVILLE JOLLYVILLE JOLLYVILLE JOLLYVILLE JOLLYVILLE RD RD RD RD RD RD RD RD RD DUVAL DUVAL DUVAL DUVAL DUVAL RD RD RD RD RD RD RD RD RD BRAKER LN W GREAT HILLS BLVD MET MET MET MO-PAC MO-PAC MO-PAC MO-PAC MO-PAC MO-PAC MO-PAC MO-PAC MO-PAC SERVIC SERVIC SERVIC SERVIC SERVIC SERVIC SERVIC SERVIC SERVIC Demographics No. Hwy. 183 & Lakeline Mall Drive Cedar Park, TX Estimates 1 Mile 3 Mile 5 Mile Total Population: 4,098 61, ,966 Total Households: 1,575 22,778 50,533 Avg. HH Income: $76,182 $92,457 $96,942 Med. HH Income: $69,656 $81,982 $85,296 Updates of 2000 Census Data by Claritas.
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