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Sessom Dr - 4.34 Acre Texas State Development Site in QOZ
4.34 Acres of Commercial Land Offered at $5,000,000 in San Marcos, TX 78666
Investment Highlights
- 4.34 acre site across the street from Texas State University
- Appx 4.34 Acres in 2 blocks Walking Distance to Texas State
- Student Housing Development Opportunity Located in a Qualified Opportunity Zone
Executive Summary
The Texas State Student Recreation Center is across the street. Many of the Academic Buildings are 2-3 Blocks away.
Property Facts Under Contract
| Price | $5,000,000 | Proposed Use | Apartment Units |
| Sale Type | Investment | Total Lot Size | 4.34 AC |
| No. Lots | 1 | Cross Streets | Academy St |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Commercial |
| Price | $5,000,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 4.34 AC |
| Cross Streets | Academy St |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $5,000,000 | Lot Size | 4.34 AC |
| Price Per AC | $1,152,074 |
| Price | $5,000,000 |
| Price Per AC | $1,152,074 |
| Lot Size | 4.34 AC |
The property is the majority of 2 city blocks located across the street from Texas State University at Academy Street & Sessom. Rezoning and development approvals will be required. Located in a QOZ, a NMTC Qualified Area, and a QCT.
Description
The property is the majority of 2 city blocks located across the street from Texas State University. There is a possibility of adding additional parcels. Rezoning and development approvals will be required. The City has indicated that they would support 2-3 story development along Orchard Street as a buffer to the neighborhood. Possibility of 3-4 story construction on Sessom and Academy. More dense development may be permitted along Sessom and Academy adjacent to campus. All utilities are believed to be available. The property is currently improved with older rentals.
PROPERTY TAXES
| Parcel Number | R10417 | Improvements Assessment | $0 |
| Land Assessment | $67,360 | Total Assessment | $67,360 |
PROPERTY TAXES
zoning
| Zoning Code | MU & SF6 |
| MU & SF6 |
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Mike Dallas -
Mike Dallas Properties
Presented by
Sessom Dr - 4.34 Acre Texas State Development Site in QOZ
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