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TX Land, Site Plan for 28 Townhomes

2110 Thrasher Lane : Austin, TX 78741

Travis County, Texas

2.40 Acres
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TX Land, Site Plan for 28 Townhomes : Austin : Travis County : Texas

Land Description

RI Marketplace Online Auction April 29 - May 1, 2024.

Register to Bid on Marketplace.

Marcus & Millichap is pleased to present a 2.4-Acre parcel located at 2110 Thrasher Lane (the “Property”) in Austin, Texas. The Property offers an exceptional development opportunity in a growing, robust trade area and first bid meets reserve.

The Property is vacant land and consists of a single parcel totaling 2.4 acres. The Property is a rare multi-acre urban infill parcel with a preliminary site plan for a 28-unit townhouse community - please review the due diligence document vault for additional information. The Property is zoned Sf-6-Np, Townhouse and Condominium Zoning with several residential uses permitted. Bidders are encouraged to reach out to Travis County regarding specific zoning regulations as the property exists within several zoning overlays within the East Riverside Corridor. The Property is positioned within a federal opportunity zone with significant potential tax savings; by investing realized capital gains in a qualified opportunity zone, real estate investors can reduce their existing capital gains tax liability.

Renowned as the vibrant capital of Texas, Austin is celebrated for its thriving economy, innovative spirit, and exceptional quality of life. With a diverse mix of neighborhoods ranging from historic districts to modern urban communities, Austin offers a dynamic landscape ripe for residential development. The city's strategic location, coupled with its robust infrastructure and transportation networks, ensures convenient access to employment centers, schools, and recreational amenities, enhancing the appeal of new residential projects. The Property is positioned in Austin's East Riverside neighborhood, a few miles from downtown and benefits from the East Riverside Corridor (Erc) Master Plan, a project managed by the City of Austin. Under the Erc, retail and residential developments have flourished along the main thoroughfare. Nearby amenities include Austin-Bergstrom International Airport, Austin Community College Riverside Campus (1.4 miles), Oracle's headquarters (2.6 miles), The Boardwalk at Lady Bird Lake (3 miles), and Tesla Giga Texas (8 miles). The Property benefits from a prime location just south of East Riverside Drive with convenient access to Tx-71, Hwy 183, Tx-130, and I-35. The Property is located less than 15-minutes from downtown Austin and five minutes from Austin International Airport. The Property further benefits from strong demographics with a population of 271,850 residents and an average household income of within a 5-mile radius. The population has experienced 38.44% growth from 2010-2023 with 5.121% growth expected to continue through 2028.

Lamar P. Fisher, Auctioneer

Fisher Auction Company Inc.

TX License: 10344

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