This is meant for a investor that is ready to come in break ground, build, subdivide, develop. Just 5 miles from Loop 1604, on the south side near Somerset, TX, with a Poteet address. Prime area for growth.
176 Spacious Lots: Each lot is approximately 30,000 sq ft – ready for your vision, With nearby homes ranging from $450K to $1M, this spot is perfect for a luxury home builder or mobile home developer .
Utilities Ready: County-approved water and electrical connections. Just need to finalize water fees and impact costs to make it shovel-ready.
Incredible Potential:
Lot Sales: Expected retail value over $16 million
Build-Out Value: Homes or mobile homes could bring in up to $29 million
Easy Access: Off the main highway with a 50 mph limit, ensuring convenience without sacrificing tranquility.
Flexible Financing: Seller financing available- ask Listing Brokerage for details.
This property is a prime development opportunity located about five miles southwest of San Antonio, near Somerset, Texas, with a Poteet address. It’s partially entitled and has already received water and electrical approval letters, and the county is ready to sign off. All that’s left is to cover the remaining water, impact, and engineering fees to make it shovel-ready, totaling $1.3 million, with $700,000 allocated for water meters at $4,000 each.
The subdivision consists of 176 lots, mostly around 30,000 square feet. The area’s potential retail value is over $16 million for a developer looking to sell the lots, or around $29 million for those planning to build homes or mobile homes. The neighboring development has homes priced from $450,000 to $1 million, making this property a lucrative opportunity for a mobile home park developer or a specialty home builder.
We’re offering flexible financing options with $2.5 million down and a $2 million carry at 10% interest. We’re open to reasonable offers and eager to make a deal happen.
All properties require cash or a private/hard money loan in order to purchase - no conventional or FHA financing available at this time. All inspections must be completed prior to buyer signing the contract. All properties are sold as-is, where is. Buyer must complete all due diligence before submitting an offer and executing any contract. Buyers will need to provide a $5,000 non-refundable deposit at time of contract.
John Serna
eXp Realty
