List Search

Sophie Lane
New Braunfels, TX 78130

$8,500,000 USD

Land For Sale  •  12.28 AC

Property Details

  • Property Type Land
  • Lot Size 12.28 AC
  • Zoning PD-2021-09
0 Transit Score
44 Walk Score

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.

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.
The Site is zoned through PD-2029-01 allowing for 378 units.
Purchaser expected to save approximately $2MM in impact fees by being grandfathered in to the old impact fee rates.
Per the Seller, the Site is shovel ready pending payment of impact fees and permit fees.
Asking rents at comparable multifamily properties within a 3-mile radius reach up to $1.79 psf.
Per CoStar, rents are expected to grow by 2.4% in the Comal County multifamily submarket within the next year.

Property Flyers

Public Transportation

AirportDriveWalkDistance
San Antonio International 37 min - 30.2 mi
Jordan Cortez 214-556-1951 Vanguard Real Estate Advisors
Jordan Cortez 214-556-1951 Vanguard Real Estate Advisors