southeast austin downtown/cbd | central austin …
TRANSCRIPT
4 L AND PARCELS
SOUTHEASTCENTRAL AUSTIN
0.9745 ± ACRES (or 42,450 ± SF)
ParkerLand
New ORACLE HQ
AUSTIN Downtown/CBD | 1.5 ± Miles
0.5 ± Miles
1406, 1408, 1504, and 1506 Parker Lane | Austin, TX 78741
DANIEL ELAM512.343.2700 x4
ELLEN MUSKIN512.343.2700 x3
SHOWN BY
APPOINTMENT ONLY
WITH LISTING AGENTS
VIEWPROPERTY WEBSITE:
PARKER LANE
PARKER LANE
EAST RIVERSIDE DRIVEEAST RIVERSIDE DRIVEEAST RIVERSIDE DRIVEEAST RIVERSIDE DRIVE
0.9745 ± ACRES (or 42,450 ± SF)
ParkerLand
World Headquarters | 0.5 ± MilesLady Bird Lake | 0.4 ± Miles
AERIAL PHOTO PARKER LAND
ZONING NOTE
Additional information on what could be allowed under various zoning scenarios is
available in our Marketing Package.
• All four (4) parcels are currently zoned SF-3, however, they were previously recommended for approval to be changed to SF-6 under prior ownership (circa 2011).
• Surrounding properties indicate MF-3 rezoning could be likely, perhaps even with some increased density bonuses as part of the East Riverside Corridor Master Plan.
AUSTIN — In The News
No. 1 Destination City for Relocating Households
— Allied Van Lines —
Best Place To Live In Texas— U.S. News & World Report —
— ApartmentList —— Bankrate —
Top Metro for Tech Professionals and
Businesses— CompTIA —
Expected to be the No. 1 Housing Market in 2021
— Zillow —
Fastest Growing Large Metro Since 2010
— U.S. Census Bureau —
Parker LandRiverside Corridor | Austin Submarket
Very well located just minutes (and literally blocks) from downtown Austin, Lady Bird Lake, and the associated hike-and-bike trails make this site a unique infill opportunity. This submarket has benefited greatly from unprecedented redevelopment along Riverside Drive. The area now flourishes with brand new upper-end multifamily and condominium construction, local and national retail establishments, music venues and new single family homes. The area has received tremendous attention recently from the development of Class A office buildings, including Oracle's World Headquarters only one-half mile away. This is an excellent location for bike commuters to employment downtown, easy access to city transit, and a stress-free commute to all points north and south Austin.
The four (4) adjacent properties total just less than 1 acre or about 42,450 ± square feet. Currently there are four houses bringing in rental income — one house on each parcel and two also include accessory dwelling units (ADH). There is oppor-tunity to increase rents to market or via short-term rentals and/or add additional units, although the "highest and best" use would appear to be through redevelopment.
Area amenities include close proximity to the CBD, Austin Convention Center, Lady Bird Lake, UT, ACC Riverside Campus, St. Edward’s University, Frank Erwin Center, Texas State Capitol, Government offices and State agencies, multiple entertain-ment districts, and the Plaza Saltillo Station Redevelopment. Austin Bergstrom International Airport (ABIA) is only 6 ± miles away, and Tesla’s new $1.1 billion Gigafactory (currently under construction) is about 6.9 ± miles from the Parker Land.
Price: Market Pricing
Land Size: 0.9745 ± ACRES (or 42,450 ± SF)
# of Buildings: 4 Houses | 2 ADU's
YOC: 1933–1940
Current Zoning: SF-3-NP (see Zoning note below)
SALIENT FACTS
INVESTMENT OVERVIEW PARKER LAND
Æ Class A Rents = $1,536 or $1.76 psf (Q4 Austin Investor Interests)
Æ Walking Distance to Lady Bird Lake – 0.4 ± miles
Æ Close to New Oracle World Headquarters – 0.5 ± miles
Æ Austin Downtown / CBD – 1.5 ± miles
Æ 6th and 2nd Streets | Warehouse District – 2.0 ± miles
Æ Austin Convention Center – 2.0 ± miles
Æ ACC – Riverside Campus – 2.5 ± miles
Æ University of Texas (Main Campus) – 3.0 miles
Æ Austin-Bergstrom International Airport – 3.4 ± miles
Æ Tesla’s New Gigafactory – 6.9 ± miles
Æ Easy Access to: IH-35, East Riverside Drive, Highway 290/71, U.S. Route 183
Æ For more info on the East Riverside Corridor Master Plan: https://www.austintexas.gov/sites/default/files/files/Planning/erc_final.pdf
HIGHLIGHTS
ABIA and surrounding infrastructure are currently undergoing a $4.5 billion expanision to double Airport capacity by 2040.
Austin-Bergstrom International Airport
(3.4 ± miles from Parker Land)
ORACLE WORLD HEADQUARTERS
Size: 40 ± Acres Employees: Up to 10,000 ±
Completed in 2018, and designated its new world headquarters in 2020, Oracle’s high-concept, college graduate training facility is located along Lady Bird Lake, southeast of Downtown Austin. The new state-of-the-art campus sits on 40 ± acres, with a 560,000 ± square-foot office and 295-unit apart-ment complex. Employee amenities at this site include: fitness center, basketball and volleyball courts, full-service restaurant, and Starbucks.
(0.5 ± miles from Parker Land)
TESLA GIGAFACTORY
Size: 2,100 ± Acres Employees: Up to 5,000 ±
Elon Musk announced in mid-2020 that Austin, TX would be the location for the NEW $1.1 billion-dollar Tesla “Gigafactory”. Currently under construction, the new manufacturing facility will sit on 2,100 ± acres of land in southeast Austin, bordering Texas State Highway 130 and the Colorado River. The new facility is expected to produce the Tesla Cybertruck, Tesla Semi, Model 3, and Model Y SUV. This massive site will also allow for additional natural amenities.
(6.9 ± miles from Parker Land)
INVESTMENT OVERVIEW PARKER LAND
Park
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Park
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Park
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Park
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Park
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Park
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14061406
14081408
15041504
15061506
Total Land Acres:
Total Land Acres: 0.9745± 0.9745±
ParkerLandProperties
PARKER LANDAERIAL VIEW
Park
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ne
Park
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Park
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Park
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E. Riverside Dr.
E. Riverside Dr.
E. Riverside Dr.
E. Riverside Dr.Ti
nnin
Ford
Rd.
Tinn
in Fo
rd R
d.
S. Lakeshore Blvd.S. Lakeshore Blvd.
S. Lakeshore Blvd.
S. Lakeshore Blvd.
Elmont Dr.
Elmont Dr.
Lady Bird Lake
ParkerLandProperties
WORLD HEADQUARTERS
PARKER LANDAERIAL VIEW
UNIVERSITYof TEXAS
AUSTIN-BERGSTROM
INT’L AIRPORT
DOWNTOWNCBD
South Austin
West Austin
North Austin
Round Rock
Eastside
35
35
35
35
183
183
183
183
183
290
290290
290
1
1
1
1
360
45
45
71
7171
71
71
130
130
130
130
620
620
620
INNOVATIONCENTER
TECHCENTER
Disclaimer: Information shown on this map is compiled from numerous sources and may not be complete or accurate. Muskin Commercial, LLC provides this map without any warranty of any kind whatsoever, either express or implied.
DISTANCESfrom Parker Land
Oracle Campus 0.5UShip 1.2Austin Downtown / CBD 1.5Main Street Hub 1.7Dropbox 1.8Silicon Labs 1.8Vrbo (South) 1.9Google 2.0Indeed (Downtown) 2.1Facebook (Downtown) 2.1Texas State Capital 2.2University of Texas 2.6Austin-Bergstrom Int'l Airport 3.4Intel 3.9BAE Systems 4.9Tesla Gigafactory (future) 6.9Zoho 9.1Applied Materials 9.7IBM Campus 10.5Samsung Austin Semiconductor 10.8The Domain 10.9Apple Campus (future) 14.4Amazon Fulfillment Center 15.3
Miles ±
Parker LandProximity Map
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov
Muskin Commercial, LLCLicensed Broker / Broker Firm Name or Primary Assumed Business Name
9000275License No.
(512) 343-2700Phone
Ellen MuskinDesignated Broker of Firm
334236License No.
(512) 343-2700Phone
Ellen MuskinLicensed Supervisor of Sales Agent / Associate
334236License No.
(512) 343-2700Phone
Buyer / Tenant / Seller / Landlord Initials Date
Daniel ElamSales Agent / Associate’s Name
616676License No.
(512) 343-2700Phone
TYPES OF REAL ESTATE LICENSE HOLDERS: y A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. y A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): y Put the interests of the client above all others, including the broker’s own interests; y Inform the client of any material information about the property or transaction received by the broker; y Answer the client’s questions and present any offer to or counter-offer from the client; and y Treat all parties to a real estate transaction honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary:
y Must treat all parties to the transaction impartially and fairly; y May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice
to, and carry out the instructions of each party to the transaction. y Must not, unless specifically authorized in writing to do so by the party, disclose:
- that the owner will accept a price less than the written asking price; - that the buyer/tenant will pay a price greater than the price submitted in a written offer; and - any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: y The broker’s duties and responsibilities to you, and your obligations under the representation agreement. y Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.
Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
Information About Brokerage Services
Muskin Commercial, LLC has prepared this brochure to provide summary information to prospective purchasers and makes no warranty or representation about the content. While this information has been obtained from sources believed to be reliable; Muskin Commercial, LLC has not conducted any investigation regarding these matters and prospective purchasers should independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are examples only and do not necessarily represent the current or future performance of the property. This brochure does not constitute an offer of sale, but is merely an invitation to bid.
4601 Spicewood Springs RoadBuilding 4, Suite 101Austin, TX 78759 WWW.MUSKINCOMMERCIAL.COM
DANIEL ELAM512.343.2700 x4
ELLEN MUSKIN512.343.2700 x3
For information on Multifamily Properties in Austin, Texas —please contact:
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AUSTIN