INVESTMENT SUMMARY

Property Type: Commercial
Subtype: Day Care
Address: 2901 Manchaca Road
County: Travis
   
Square Feet: 4,133 SF
Lot Size: 30,361 SF (0.697 Acres)
No. of Buildings: 4
Occupancy: 0%
Year Built: 1929
Investment: Value-added Land Opportunity  

 

Property Description:
The 2901 Manchaca retail/office site entails nearly approximately 3,755 SF (per Travis County Appraisal District) of office space which includes a 2,583 SF building 1, 548 SF building 2, 336 SF building 3 and 288 SF building 4. The site has approximately 6 parking spaces, though the CS zoning allows for up to 95% impervious cover allowing additional parking spaces to be added if needed.

Excellent tract has +/- 58' on Manchaca Road , +/- 234' on Lightsey Road , currently with 3 curb cuts for convenient vehicle access. . All other corners at this intersection are developed with retail and commercial properties along Manchaca Road . The TxDOT 2002 Traffic Study indicates +/- 12,310 vehicles per day North-bound on Manchaca Road at Lightsey Road / Barton Skyway and +/- 15,750 vehicles per day South-bound on Manchaca Road .

Vacant commercial property, previously used as a daycare for last 27 years.  Owner had subleased space for last 10 years and no preventative maintenance had been done.  Previous daycare, Gingerbread Academy, was evicted from the space and property was vacant for 4 months preceeding acquisition. The property was completely renovated over a 5 month period including a new 5-ton a/c system, insulation, sheetrock, paint and carpet.

Roadway Information:

2901 Manchaca is located on the Northeast corner of the Manchaca and Lightsey Road intersection and 1 block east of South Lamar Boulevard in the South Central sub-market of Austin . Manchaca Road is a major north-south, four-lane roadway with no center lane and no median divider at the subject’s location. Barton Skyway has become a major east-west artery connecting Manchaca Road with South Lamar Boulevard and residential communities to the west. The area's rapid growth over the past five years has increased traffic volumes tremendously at the subject's location. Full utility services are available to the subject tracts.

Development Characteristics:

Inner city South Austin location for retail pad user (Commercial Services). The property is located in the northeast corner of the intersection of Manchaca Road and Lightsey Road / Barton Skyway. The neighborhood is bounded by Lake Austin on the north, South Mo Pac Exwy on the west, I-35 on the east and US 290 on the south. The major North/South thoroughfares within the neighborhood are South Lamar and Manchaca.

The HEB / Central Market anchored shopping center is located approximately one mile south of the subject in the southwest quadrant of South Lamar Boulevard and US 290 West. Additional land uses at or near that intersection include Sonic Drive-In, 7-Eleven convenience store with gas pumps, Goodwill, Half Brice Bookstore, Chango’s Restaurant, Alligator Grill, Matt’s El Rancho restaurant, Eckerd’s anchored shopping center, newly built self-storage project, Blockbuster Video, Thundercloud Subs, Delware Subs, The Money Box, Domino’s, Pizza Hut, and Dry Cleaners.

In summary, this is a high-growth area. Daily average traffic at the subject's location exceeds 28,000 vehicles. Studies conducted on Manchaca Road and Barton Skyway by the Texas Department of Transportation show that traffic counts nearly doubled between 1997 and 2002.

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.