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Sophie Lane - Zoned Multifamily Site | 12.28+/- Acres
12.28 Acres of Residential Land Offered at £6,715,085 in New Braunfels, TX 78130
Investment 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.
- Purchaser expected to save approximately $2MM in impact fees by being grandfathered in to the old impact fee rates.
- Asking rents at comparable multifamily properties within a 3-mile radius reach up to $1.79 psf.
- The Site is zoned through PD-2029-01 allowing for 378 units.
- Per the Seller, the Site is shovel ready pending payment of impact fees and permit fees.
- Per CoStar, rents are expected to grow by 2.4% in the Comal County multifamily submarket within the next year.
Property Facts
| Price | £6,715,085 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 12.28 AC |
| Price | £6,715,085 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 12.28 AC |
1 Lot Available
Lot
| Price | £6,715,085 | Lot Size | 12.28 AC |
| Price Per AC | £546,831 |
| Price | £6,715,085 |
| Price Per AC | £546,831 |
| Lot Size | 12.28 AC |
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. 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.
zoning
| Zoning Code | PD-2021-09 (The Site is zoned through PD-2029-01 allowing for 378 units.) |
| PD-2021-09 (The Site is zoned through PD-2029-01 allowing for 378 units.) |
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Jordan Cortez -
Justin Tidwell -
Mason John -
Will Droese -
Haley Birmingham -
Reid Pierce -
Jim McNulty -
Vanguard Real Estate Advisors
Presented by
Sophie Lane - Zoned Multifamily Site | 12.28+/- Acres
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