Zoned Multifamily Site 12.28+/- Acres | 378+/- Units | New Braunfels, TX

$8,500,000

Sophie Lane, New Braunfels, TX 78130

For Sale

Land Residential

Active

Last Updated: 09/09/2024

Details:

Lot Area: 12.281 acres

Price Per Sqft: $15.88

Zoning: PD-2021-09

Offered by

Jordan Cortez

Managing Principal

Vanguard Real Estate Advisors

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Highlights:

The 12.28+/- acre Site is well located along Sophie Lane less than a mile east of Interstate 35, allowing for easy access through New Braunfels and other major Texas markets.
The Resolute Baptist Hospital, a 128-bed facility which per the New Braunfels Chamber of Commerce has over 250 employees and is less than a mile from the Site.
The Site is located within the highly rated Comal ISD which has an A-ranking per Niche.com. Nearby schools within the Sites attendance zone include Canyon High School, Canyon Middle School, and Freiheit Elementary School all of which are less than a mile from the Site.
The Site is zoned through PD-2029-01 allowing for 378 units.
Purchaser expected to save approximately $2MM in impact fees by being grandfathered in to the old impact fee rates.
Per the Seller, the Site is shovel ready pending payment of impact fees and permit fees.
Per the US Census Bureau, the population of New Braunfels grew to 104,707 by the end of 2022, a 15.8% increase from 90,391 in 2020.
Per CoStar, rents are expected to grow by 2.4% in the Comal County multifamily submarket within the next year.
Asking rents at comparable multifamily properties within a 3-mile radius reach up to $1.79 psf.

Description:

Vanguard Real Estate Advisors (“VREA”) has been exclusively retained by Ownership to offer developers and investors the opportunity to purchase a 12.28+/- acre entitled multifamily development Site less a mile from Interstate 35 along Sophie Lane in New Braunfels, TX (the “Site”). The Site comes with fully designed plans for a 378 unit, 4-story, garden-style build out which the Seller will convey at closing.

The Site is close to major retailers such as Target, TJ Maxx, Home Goods, and Buc-ee’s in addition to numerous restaurants. This exceptionally well-located Site is a great opportunity to acquire a “shovel ready” site at an attractive price of $22,486 per developable unit.

To gain access to the marketing brochure and full Due Diligence Vault click on the link below:

https://docsend.com/view/s/9f592qyeetz4fzey

A 1% co-broker fee is available to a Co-Broker that sources a Principal that VREA has not previously contacted in any format or sent information regarding this opportunity.