Commercial Land for Sale Near Lytle, TX with IH-35 Frontage
– 10.18 Acre Commercial Land Tract – 1300 Feet of Frontage on IH35
Executive Summary
Price:– This 10.18 acre (434,441 SF) Lytle, Texas commercial land tract is priced at $270,000.
Highest & Best Use – This site’s highest and best use is considered to be for future commercial or light industrial development. The use is considered physically possible based on the level topography, significant frontage (approximately 1300 FT) along IH35 and good depth, and availability of utilities. The “back” two acres are zoned “B2” Business District. The front 8 acres on Ih35 have no zoning and are outside of the city limits. Once development grows south of FM 3175 (Benton City Road) in the future, we foresee adequate commercial development options for this tract. The highest and best use of the subject property would be to acquire, hold for future commercial or light industrial development and continue receiving agricultural exemptions in the interim.
Location – Lytle is located approximately 25 miles southwest of San Antonio with a reported population of 2,383 in 2000. The 5 miles radius enjoyed a population of 11,935 in 2010. The subject property is located just outside of the Lytle city limits along IH35 just south of FM 3175 (Benton City Road). IH35 is a major interstate highway that stretches from Laredo on the south through San Antonio, Austin, and north to Dallas. Land uses in the area along IH35 include South Texas Suzuki Dealership, United Grain, Park Place residential subdivision, and A Affordable Manufactured Homes (rush in the area from Eagle Ford Shale). A majority of the immediate area’s commercial and retail development sits just north of the subject property at the intersection of IH35 and FM 2790. This intersection includes a new 117,000 SF HEB Plus store (HEB is currently building directly behind an existing store due to the areas recent growth spurred largely by the Eagle Ford Shale), Bill Miller BBQ, AutoZone, Lytle State Bank, Morales Feed Store, and numerous other commercial developments. A new Best Western Hotel is in mid development just north of this tract as well. This hotel has rumored to have been pre-leased by an oil field services company on a multi-year deal to house their workers. This tract’s proximity to the Eagle Ford Shale could provide for additional hotel development to help meet the housing requirements of oil/gas company workers.
Eagle Ford Shale – The subject property is located just north of the area that has received significant attention over the past two years due the shale rock formation known as The Eagle Ford Shale oil and gas play. The Eagle Ford shale formation in South Texas runs from the US-Mexico Border north of Laredo in a narrow band extending northeast for several hundred miles to just north of Houston. It is located below the Austin Chalk. The formation produces both natural gas and oil, but it is the oil-producing and gas condensate areas that are the hottest right now. In addition to the Eagle Ford activity, population growth has occurred in towns like Lytle, Jourdanton, and Pleasanton from South San Antonio’s new employers like Toyota (added 2000 new jobs in 2005) hiring employees that chose to live in smaller communities in close proximity to work. As San Antonio’s borders grow, Lytle’s population should experience significant increase as well
Please call if in need of advisement relating to horizontal costs (site work, entitlements, easements, etc.), vertical costs (shell, interior, etc.), development, construction management, bank financing, real estate investment analysis, lease versus own analysis, sale/lease back analysis, build-to-suit, or any other potential questions relating to this Texas Commercial land acquisition.
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Lytle, Texas Links – Eagle Ford Shale
Contact a Commercial Real Estate Expert today:
Link LeGrand, CCIM 210-789-5465Luke LeGrand, ePRO 210-843-5853