2448 S 1st St - Restaurant FOR SALE


Austin, TX 78704- Galindo
$3,100,000 USD
512-923-2745
2448 S 1st St, Austin, TX for Sale
$3,100,000 USD
Restaurant - FOR SALE
1/3
null | Request Cap Rate

2448 S 1st St
Austin, TX 78704
Galindo


HIGHLIGHTS

  • Base zoning district allows a wide range of commercial uses, incl: Restaurants, Retail, Bars (subject to spacing rules), Personal services, Office
  • Vertical Mixed Use (Combining District), allows residential units above ground-floor commercial, Encourages denser, urban development.
  • DBETOD-Density Bonus, Allows add'l height, density, or floor-area ratio, in exchange for: Affordable housing participation, Optional ,not mandatory

OVERVIEW

Unique opportunity to acquire two contiguous lots, 2448 So. 1st and 2508 So. 1st, Combined area of both lots is approx 14,583 square feet, improved with an operating restaurant, including land, building, and all associated FF&E. The business has successfully operated at this location for over 25 years, reflecting long-term stability and market presence. Situated just over two miles from Downtown Austin in the highly sought-after 78704 area, the property has been well-maintained. A successfully negotiated sales contract might allow the Buyer to have a strong reliable restaurant tenant while Buyer goes thru the process of redevelopment, should that be the future use of the property. There is much more value in the land than as an operating restaurant. The Value and emphasizes should focus on the land value and zoning. Location and Zoning makes this property ideal. Currently zoned, CS-V, VMU overlay, ETOD location, Density Bonus opportunities, South First St frontage, Existing incoe-producing restaurant & improvements.

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/SF

$1,271 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food, Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

CS

APN/PARCEL ID

305700

ASK ABOUT THIS PROPERTY

Herbert MartinezReal Estate Executives Of Austin LlcMore Info
512-923-2745

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Herbert MartinezReal Estate Executives Of Austin LlcMore Info
512-923-2745

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.