Coldwell Banker Commercial Southwest
www.coldwellbusiness.com
Property ID: 55976
Property Type: Land
Property Address:
Interstate 10 Frontage Road and Converse Street
Flatonia, TX 78941
County: Fayette
Price: $665,792
Lot Size: 17,299,418 Sq. Ft. |
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Property Description
Carol Littlefield Properties and the Retail Development Team of Coldwell Banker Commercial in Brenham (CBC Brenham) are pleased to present this 3.9+ acre offering on Interstate 10 in Flatonia.
PRICE REDUCED to $665,792!!!
The 3.97 acres can be purchased in its entirety or in four distinct tracts.
Excellent retail location on Interstate 10 to maximize revenues and visibility in the Fayette County market (“The Interstate Pavilions of Flatonia” or the “Pavilions”).
HIGHLIGHTS
(1) Offered in its entirety at $665,792 or $3.85 per square foot (SF) or:
(a) Pavilion # 1 with 0.5940 acres at $ 135,583 or $5.24 per SF
(b) Pavilion # 2 with 2.0142 acres at $397,017 or $4.53 per SF
(c) Pavilion # 3 with 0.4750 acres at $68,901 or $3.33 per SF
(d) Pavilion # 4 with 0.4750 acres at $68.901 or $3.33 per SF
(2) Up to 90% financing available depending on qualifications and terms including financing land, new construction, improvements and capital equipment
(3) Commanding position to maximize westbound and eastbound Interstate 10 revenues with competitive positioning advantage next to the new McDonalds, the new Shell Super Convenience Store, and new motel just east of the Pavilions
(4) Strategically located just 77 minutes to San Antonio, 79 minutes to Austin and 87 minutes to Houston
(5) Top 6 categories of local consumer spending each projected to increase by over 5% in 2008
(6) Top 5 unmet retail opportunities average $725 K+ at a 1-mile radius, $875 K+ at a 2-mile radius and $1.05 M+ at a 3-mile radius
(7) Vibrant Fayette County 2008 economy estimated at $600 M+ and growing at a 5.6+% annual rate
Call 979.421.9996 to contact any member of the joint listing team: Carol Littlefield with Carol Littlefield Properties; or Diane Alexander, Tootie Lyons, George Alexander or Chris DeAlmeida with CBC Brenham.
You can also contact the team by email at FlatoniaInterstate10Pavilions@ColdwellBusiness.com.
AVAILABLE IN ENTIRETY OR FOUR DISTINCT TRACT OFFERINGS
The Interstate Pavilions of Flatonia in its entirety with 3.9714 acres is priced at $3.85 per SF or $665,792.
(1) Pavilion # 1 (0.594 acres). Offered at $135,538 or $5.24 per SF.
Pavilion # 1 offers approximately 115’ of frontage on the Interstate 10 frontage road.
Conceptual sight plan suggests a small 10,000 to 12,000 square foot (“SF”) mixed-use building.
If the proposed Market Street extension is completed, Pavilion # 1 will become a hard corner with an additional 225’ of frontage on Market Street. This would bring the total estimated frontage to 325’ acquired for less than $150,000.
(2) Pavilion # 2 (2.0142 acres). Offered at $397,017 or $4.53 per SF.
Approximately 200’ of frontage on the Interstate 10 frontage road. Potential franchise motel or small mixed-use development.
Conceptual sight plan suggests a mixed-use development of approximately 18,000 to 22,000 SF of rental retail, professional, service and/or commercial tenants.
If the Market Street extension is completed, Pavilion # 2 will become a hard corner with an additional 450’ of frontage on Market Street. This would bring the total estimated frontage to 650’ acquired for less than $400,000.
Two acres available adjacent to the East could accommodate restaurants, fast food franchises or other traffic generating customer supporting businesses.
(3) Pavilion # 3 (0.4750 acres). Offered at $68,901 or $3.33 per SF.
Ideal for a professional, service or retail entrepreneur desiring access to Interstate 10 revenues.
Conceptual sight plan suggests a freestanding professional, service or retail location based on a 3,000 to 7,500 SF mixed-use building.
Pavilion # 3 provides outstanding visibility and Interstate 10 access at an economical price.
(4) Pavilion # 4 (0.4750 acres). Offered at $68,901 or $3.33 per SF.
Ideal for a professional, service or retail entrepreneur desiring access to Interstate 10 revenues.
Conceptual sight plan suggests a freestanding professional, service or retail location based on a 3,000 to 7,500 SF mixed-use building.
Pavilion # 4 provides outstanding visibility and Interstate 10 access at an economical price.
FINANCING
Up to 90% financing available depending on qualifications and terms.
Financing can include land, new construction, improvements and capital equipment.
ADDITIONAL INTERNET LINKS
Dedicated Website:
http://property.loopnet.com/15566073
Downloadable Graphics and Pictures:
Link to listing website with all graphics and pictures utilized in these offerings in pdf or jpg files for easy downloading:
http://property.loopnet.com/15566073
Demographic and Econometric Reports:
Link to Demographic and econometric reports, all analysis utilized in these offerings in pdf files for easy downloading:
http://www.coldwellbusiness.com/ListingReports.ConverseSt.html
Comprehensive commercial listing with complete narrative description:
http://www.cimls.com/sale-listing/55976
DETAILED FINANCIAL ANALYSIS
For detailed financial analysis including competitive property analysis, retail gap analysis, consumer spending analysis, investment strategy models and other analysis, see CIMLS: http://www.cimls.com/sale-listing/55976.
PROPERTY
The Pavilions present several outstanding opportunities for franchise development including full-service and limited service restaurants, fast food and motels.
The Pavilions also present outstanding opportunities for a local retailer needing an Interstate 10 location, a professional intent on expanding their practice visibility and revenues or a sophisticated real estate investor
The Pavilions may also be attractive to a retail commercial developer ready to maximize return with minimum risk by following the newly opened Shell Convenience Store, McDonald’s, and motel just east of the Pavilions.
Frontage:
540’ of estimated road frontage excluding approximately 60’ of frontage eliminated by the proposed Market Street Extension.
This frontage includes 315’ estimated frontage on Interstate 10 Frontage Road and 225’ estimated frontage on Converse Street.
Market Street Extension:
The City of Flatonia is planning an extension of Market Street (“the Extension”) that will assimilate over 0.4 acres of The Interstate Pavilions of Flatonia.
This may appear to be a significant drawback. However, the Extension may result in a very substantial increase in property value.
Assuming completion of the Extension, some consideration would be received from the City of Flatonia for the property.
A loss of 60’ of frontage on the Interstate 10 Frontage Road is complemented by a gain of an estimated 675’ of NEW frontage on Market Street.
Flood Plain Issues:
The Interstate Pavilions of Flatonia are in a flood plain. Detailed information is available.
The recently completed Shell Convenience Store and McDonalds immediately to the East of the Pavilions addressed similar issues.
LOCATION
The Interstate Pavilions of Flatonia benefit from compelling location factors.
All of this traffic passes by The Interstate Pavilions of Flatonia BEFORE reaching the Shell Convenience Store, the McDonalds or the FM 609 route into West Flatonia.
Superior Austin, San Antonio and Houston Central Location:
The Pavilions are a natural travelers’ stopping point for Interstate 10 traffic between Houston and San Antonio.
Flatonia is approximately 77 minutes San Antonio at the Interstate 10 interchange with the Interstate 440 Loop. Total estimated driving distance is 82.9 miles.
Flatonia is approximately 87 minutes from Houston at the Interstate 10 interchange with the West Sam Houston Beltway. Total estimated driving distance is 93.9 miles.
Flatonia is approximately 79 minutes from Austin at the Interstate 35 interchange with Texas Highway 183. Total estimated driving distance is 67.4 miles.
TRAFFIC VOLUME AND PROJECTIONS
26,775 is the estimated average 2008 daily traffic volume on Interstate 10 at a traffic point about 439.21’ east of a hypothetical intersection of Interstate 10 with Market Street.
Based on this projection, the average daily traffic count will exceed 30,000 within approximately three years (between the 4th quarter of 2010 and the 2nd quarter of 2011).
Projections are based on proprietary trending analysis by Alexander Tiffany, LLC estimated annual compounded growth from 2005 through 2012 of 5% per year.
COMPETITIVE PROPERTIES
On February 18, 2008, we could only identify one additional commercial property in the Flatonia market as a comparable. Coincidentally, it is located immediately adjacent to Pavilion 2 and Pavilion 3. The listing is with Century C21 Bobby Gronewald Real Estate in Flatonia (“Competitive Property”).
On February 18, 2008, the Competitive Property is 1.1835 acres listed on the TXLS listing service (www.txls.com) at $247,500 (TXLS # 41474) or $4.80 per SF. The Competitive Property has an estimated 200’ of frontage on Interstate 10 Frontage Road and an estimated 225’ of frontage on Converse Street.
FAYETTE COUNTY DEMOGRAPHICS AND ECONOMETRICS
Demographic and econometric analysis (“Demographic and Econometric Analysis”) confirms stable Fayette County econometrics and demographics to support your purchase of The Interstate Pavilions of Flatonia.
Fayette County Economy findings:
(1) $425 M+ local consumer spending in 2007
(2) $600 M+ annual total economy in 2008
(3) Economy projected to grow at over 5.6% per year through 2012
(4) Economy projected to exceed $750 M in 2013
Fayette County Population:
(5) 2007 population estimated at 23,160
(6) Projected to grow by 1.04% per year through 2012
Household Incomes:
(7) $46,730 estimated 2007 average household effective buying income projected to grow 2.46% per year through 2012
(8) $55,654 estimated 2007 average household Income projected to grow by 2.66% per year through 2012
(9) 12.33% of all families in 2007 had average household incomes of at least $100,000 in 2007
(10) 16.46% of all families will have average household incomes of at least $100,000 in 2012
EMAIL TO YOU WHEN WE LIST NEW PROPERTIES THAT MEET YOUR SPECIFICATIONS
We offer immediate email contact when we list properties in categories you have expressed an interest.
Please send an email to PriorityListings@ColdwellBusiness.com with your specifications.
DISCLOSURES & COPYRIGHTS
CBC is a wholly owned franchise of Alexander Tiffany Southwest, LLC. Analysis is preliminary, based on proprietary systems and models, is time sensitive and based on assumptions- stated and unstated. Graphics are only renderings. Measurements are only estimates. No warranties are expressed or implied. All content is protected by copyright laws, is only for prospects or legal representatives, and should not replace buyers own due diligence and analysis. Any other use is prohibited.
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Financial Summary
Up to 90% financing available depending on qualifications and terms.
Financing can include land, new construction, improvements and capital equipment.
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Attached Documents
Property Flyer
Document 1
Document 2
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Contact Information
Company: Coldwell Banker Commercial Southwest
Name: Administrator
Email: Click Here to Email
Phone: 979.421.9996
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