For Sale
Presidential Shores
13165 Snow Lane | Willis, TX 77318-3429, US
price$6,990,000
property typeCommercial Sale
highlights
•- Gated lakefront development project with existing 12 MF/Condo units
•- Tremendous Value Add development opportunity with water, sewer, bulkhead, graded in place and ready for development
•- In Place NOI: $171,327
•- Permitted and underground infrastructure for 86 additional units
•- Lot Size: 4.29 acres
•- All existing units 2 BR/ 2 Bath
•- Approved for 9 additional buildings, 86 additional units (site plans available)
•- All utilities in place
•- Outside all flood zones
•- No MUD tax
•- Value Components:
•- 12 in-place units: $3,115,000 (based on current NOI and 5.5% Cap Rate)
•- 3 +/- acres of lakefront to be developed: $2,352,240 ($18.00/sf)
•- In place infrastructure for development acreage (water, sewer, pad sites, bulkhead): $1,575,000
•- Total value based on sum of component parts: $7,042,000
property
details
STATUSActive
SALE PRICE PER UNIT$6,990,000
PROPERTY TYPECommercial Sale
BUILDING SIZE12,300 SF
LOT SIZE4.3 acres
SALE PRICE$6,990,000
STORIES2
OCCUPANCY %100%
ZONINGMulti-Family
DAYS ON MARKET1204
property
description
This is a unique opportunity to purchase a 12 Unit, 100% leased lake front property along with additional acreage and underground infrastructure for 80+ additional units. This is a great opportunity to acquire an income producing property with tremendous Value Creation potential.
location
description
13165 Snow Lane | Willis, TX 77318-3429, US
Located on the shores of beautiful Lake Conroe, a popular destination and residential location in the northern portion of the Houston, Texas metropolitan area.
Clifford Bogart
TX #313043
(214) 704-9862