165 Hargraves Dr
Austin, TX 78737

Building M of Belterra Village offers the unique opportunity for an investor to acquire a fully-leased shops pad within a growing mixed-use development with excellent visibility along the highly trafficked Highway 290 corridor. The property is leased to a diverse mix of national and regional tenants with strong co-tenancy within the center. The property is strategically situated to serve an affluent, rapidly-growing trade area with close proximity to more than 9,000 residential units under development in the surrounding area. With an irreplaceable location within an expanding population center, an investor will capitalize on real estate appreciation, scheduled increases in income, and a diversified income stream with this property. The subject property is ideally situated with excellent visibility and access with frontage along US-290 (27,817 AADT) at its junction with Nutty Brown Road (3,913 AADT). The site benefits from a strong retail location along the growing Highway 290 retail corridor, approximately 16 miles east of downtown Austin and 7 miles west of Dripping Springs, a rapidly growing Austin suburb. The site benefits from robust, affluent demographics; population within a 15 mile radius exceeds 612,750, and the projected annual rate through 2022 within one mile of the site is 4.69%. Average household income within three miles of the site is $165,547, and nearly 67% of surrounding households earn more than $100,000 annually. Median home value within one mile of the site is $400,610, more than twice the median home value for the state of Texas overall and 16% higher than median value in Austin. This outparcel is located within the Belterra Village mixed-use development, which is part of Belterra, a 1,600 acre master planned community named the 2015 Master Planned Community of the Year. The development includes more than 200,000 square feet of retail space, with major tenants including Sky Cinemas, Breed & Co/Ace Hardware, Gold’s Gym, St. David’s HealthCare, and more, and will be located kitty-corner to a new H-E-B. The development is also slated to include hotel space, senior living, 215 residential units, and 83 single family homes. Currently, the development as a whole is expected to include as many as 2,000 homes, with approximately 1,400 under construction or completed, and more than 9,000 additional residential units are planned or under development in the surrounding area. Major retail tenants neighboring the site include CVS, H-E-B, Walgreens, The Home Depot, Tractor Supply Company, Schlotzsky’s, Whataburger, Chase Bank, and more. This property is listed in conjunction with Texas-licensed real estate broker Delta Commercial.