15021 W HWY 71 BEE CAVE   | AUSTIN, TX 78738

8.77 Acres (382,021 SF) * South side (eastbound lane) of W. Hwy 71

FOR SALE | PRIME BEE CAVE DEVELOPMENT SITE

W H i g h w a y 7 1

EXECUTIVE SUMMARY

 

•   SITE: 8.77 Acres (382,021 SF) * South side (eastbound lane) of W. Hwy 71

•   FRONTAGE: 291’ (W. SH 71)

•   LOCATION: Prime location in Bee Cave, TX. a high growth west Austin suburb at

     15021 W. HWY 71 just a few hundred yards west of the intersection of Hamilton Pool

     Rd./Bee Cave Parkway and W. Hwy 71

           o     15 miles (20 minutes) from downtown Austin, 20 miles (30 minutes) to Austin

                  Bergstrom International Airport and 20 miles (45 minutes) to the Domain,

                  north Austin’s premier shopping, dining and entertainment district.

           o    The site is just minutes from dense retail and entertainment centers in Bee    

                  Cave and Lakeway, including; The 1.5 Million square foot “Hill Country    

                  Galleria” and half million square foot “Shops at The Galleria”

           o     Site is less than a mile from the proposed $150 Million dollar -   

                  Terrace/Backyard at Bee Cave development with over 1 million square feet  

                  of mixed-use commercial space, including Data Center Space, Office, Hotel,

                  Retail, Restaurants, Luxury Condominiums and a Re-Developed “Back

                  Yard” Amphitheatre

•   POPULATION:  Population of over 35,000 within a 5-mile radius and one of the

     fastest growing corridors in Central Texas. Average age ranges 35-44

•   HOUSING: The Bee Cave/Lakeway housing market is one of the highest growth

     areas in the Austin metro with median home values of over $550,000

          o     Single Family: The site is surrounded by over 18,000 new and Existing single-

                 family home sites, including the newer developments of: Bella Colinas, Terra

                 Colinas, Falcon Head, Ladera, Serene Hills, Belvedere, Spanish Oaks,

                 Sweetwater, and Rough Hollow.

          o     Multi-Family: Over 2,100 Class A Multi-Family Units within 2 miles of the site

                 with average rents of $1.40 PSF + ($1,350.00 per unit avg.) and total average 

                 occupancy above 90%

          o     Growth: In the Austin Metro for 2017, housing starts were up 19.1% from 2016

                 and annual new Lot deliveries were the highest ever recorded at 19,007.

                 LTISD reported 15,964 district housing units in 2011 and projected an increase

                 of 11,730 units to total 27,700 units or more, by 2022

EXECUTIVE SUMMARY

 

•   INCOME: Average Household Income exceeds $160,000 within a 3-mile radius of

     the site

•   TRAFFIC COUNTS: at the site exceed 30,000 vehicles per day

•   ZONING: Currently zoned “NS” (neighborhood services) along the Hwy 71 frontage

     and “SFRR” (Single Family Rural Residential) at the rear (south side) of the tract, in

     the City of Bee Cave Corporate Zoning Limits

•   IMPERVIOUS COVER: 40% (city of Bee Cave), up to 45% permitted w/Rain Water

     collection system

•   UTILITIES: West Travis County Public Utility Agency (WTCPUA) and Travis County

     Water Control & Improvement District #17 (WCID #17) provide Water and

     Wastewater Services to most properties in the Bee Cave/Lakeway area. The site has a

     WTCPUA 20” Water Main along the Hwy 71 frontage as well as a 20” along the

     eastern boundary of the site.

•   TOPO/ENVIRONMENTAL: The site has a gentle slope from Hwy 71 down to the

   “Little Barton Creek”, then gentle slope to flat from the creek to the rear of the tract.      

     The site is wooded with beautiful “Live Oak” Trees and other native trees and grasses

     including large Century Agave plants

•   MEDICAL: The site is located just 3 miles from the new Baylor Scott & White

     Lakeway Medical Center – a 120 bed Level II Trauma Hospital. And just 2 miles

     down Hwy 71 is the St. David’s Bee Cave Emergency Center, a full-service free-

     standing hospital ER. Austin Regional Clinic just opened their new Bee Cave

     location, 500 yards west of the site on Hwy 71. Within 3 miles of the site are more  

     than 7 Assisted Living and Memory Care facilities, include Silverado, The Harbor at

     Lakeway, Brookdale and the soon to open Belmont Village.

•   EDUCATION: The site is in the highly acclaimed and Exemplary awarded, Lake

     Travis Independent School District “LTISD”, one of the top 2 rated districts in the

     Austin metro area. The Austin Community College – Pinnacle Campus is located just

     minutes east of the site at the Hwy 71 and US Hwy 290 intersection. And just 15 miles

     to central Austin is the University of Texas @ Austin, one of the largest and highest

     rated Universities in the country – 51,000 + enrollment.

          

(Continued)

*Lower offering price than any on-market tract and priced lower than any sale-comp, in    surrounding vicinity.

     

➢   PRICING: Priced for immediate sale - $1,800,000 ($4.75 PSF)

Hill Country Galleria

SURVEY/TOPO

ON-MARKET/SOLD COMPS

LOCAL AMENITIES

10-MILE TRADE AREA

2018 DEMOGRAPHIC SUMMARY

10-MILE TRADE AREA

186,830

249,890

$160,000+

64.47%

53.0%

25.5%

17.0%

DAYTIME POP

POPULATION

AVG HH INCOME (3 MILE)

%BACH DEGREE OR >

POPULATION TRENDS

(GROWTH & FORCAST)

2000 TO 2013

2010 TO 2018

2013 TO 2018

  BEE CAVE ZONING MAP 

SITE

 BEE CAVE FUTURE LAND USE MAP

BEE CAVE RESIDENTIAL DEVELOPMENTS

BEE CAVE RETAIL DEVELOPMENTS

WTCPUA WATER SERVICE AREA

WTCPUA WASTE WATER

SITE

AREA GROWTH RATES VS. TOTAL AUSTIN MSA

Because of its draw as a destination for migrating talent, metro Austin's population surpassed 2.0 million in

2015. The decade ending 2015 saw a 37.7% increase in population, and growth was 3.0% for the year ending

July 2015. Census Bureau estimates show that Austin remains one of the top destinations for migrating

talent. Austin ranked first among the 50 largest U.S. metros based on net migration as a percent of total

population in 2015. In addition, 6.4% of Austin residents in 2015 lived elsewhere one year earlier. That is the

fourth largest rate among the top 50 U.S. metros.

0

5

10

15

20

1980-1990 1990-2000 2000-2005 2005-2010 2010-2014

% p

er y

ear

% p

er y

ear

% p

er y

ear

Bee Cave Lakeway Austin

0

5

10

15

20

1980-1990 1990-2000 2000-2005 2005-2010 2010-20140

0.918

1.835

2.753

3.67

1980-1990 1990-2000 2000-2005 2005-2010 2010-2014

20

15

10

5

0

Austin is ranked America’s #1 Fastest Growing City   Austin metropolitan population is over 2 Million and is the 11th largest city in U.S. Austin Economy is ranked #1 in the country Since 2000, employment in the Austin area has expanded 52.3%, over 15 percentage points more than Dallas-Ft. Worth or Houston Austin is ranked #1 city for Tech Businesses  Austin ABIA Airport is ranked #1 High-Tech Airport Austin ranked #1 Greatest Music City in America and is the “Live Music Capital of the World” with over 250 Live Music Venues Austin’s Total Annual Visitors exceed 24.1 Million and contribute over $7 Billion in spending per year.  Austin is ranked as a “Top Meeting Destination in the US” by the Convention Meeting Association.  Austin averages 300 days per year of Sunshine and has an average annual temperature of 70 degrees  Austin ranked #1 city for film making in North America and ranked best city to Live and Make Movies.  Texas is a Non-Income Taxing state and Austin has an 8.25% Sales Tax and just 15% HOT (Hotel Occupancy Tax) 

AUSTIN HIGHLIGHTS

The Austin area is a growth corridor that is expanding more rapidly than any other in the nation and the area is home to 3 of the nation’s 10 fastest-growing

counties with populations over 100,000

Currin Van Eman

currin@vra.co 512 927 7150

www.vra.co