Commercial Property Near Primary Island Intersection

Transcription

1 CORPUS CHRISTI, TEXAS Mainland Corpus Christi Laguna Madre JFK Causeway Padre Isles Country Club S. Padre Island Drive PROPERTY Sand Dollar Ave. (Platted) Highway 361 Town Center / Riverwalk Site Packery Channel Construction Gulf Beach Balli Village Resort Site Wharf Site Town Center / Riverwalk Site To Mustang Island & Port Aransas To National Seashore 4.65 Acres Commercial Property Near Primary Island Intersection Steve Roberts Realty Associates 5934 S. Staples, Suite 202, Corpus Christi, Texas (361) fax (361) Listor: Larry K. Childers - (361) lchilders@stx.rr.com For Additional Information visit: NORTH PADRE ISLAND CORPUS CHRISTI, TEXAS 1

2 LOCATION: At the heart of "downtown" North Padre Island, next to American Bank. Fronting on Padre Island Drive just south of intersection with Highway 361 on North Padre Island in Corpus Christi. Sand Dollar Avenue is a platted street that will serve as alternate frontage and provide access off Highway 361. Property Description MARKET: Padre Island - Corpus Christi has a year-round residential population of more than 10,000 and on the other end of the island Port Aransas has another 4,000 permanent residents. Both have seen rapid growth in the past five years. Vacationers and long-term visitors push the average year-round totals much higher. North Padre Island serves as the primary coastal/beach destination for much of Central Texas. It is 150 miles from San Antonio (MSA pop. 1,830,000) and 200 miles from Austin (MSA pop. 1,407,000). The population within 250 miles includes Houston and is more than 10.6 million. The Corpus Christi MSA population is 431,000. SIZE: Approximately 4.65 acres with 500 feet of frontage on Padre Island Drive. It is 450 feet deep at the north boundary adjacent to the American Bank building and 300 feet deep on the south boundary with 350 feet fronting on Sand Dollar Road. Seller willing to divide. PACKERY CHANNEL COUNTRY CLUB MUSTANG ISLAND STATE PARK 54-Acre Marina/Residential Development Dunes ZONING: Zoned B-2A Island Business District which allows a wide variety of commercial uses and multi-family residential density of up to units per acre. UTILITIES: Location to be determined. FEATURES: Large commercial tract prime for development of condos, townhouses, hotel, retail, office or mixed use. High traffic count, close to Gulf beaches, golf course, Packery Channel and future public marina. Virtually all traffic coming on and off North Padre and Mustang Islands travels through the nearby intersection. Padre Island Drive is the main arterial for North Padre Island. SH 361 is the only highway serving Mustang Island and Port Aransas. All of the property bounding this tract on the south and east is owned by Asset Development Corp. and is part of a master planned Town Center and Riverwalk with waterway connection to the Gulf and the Laguna Madre through Packery Channel. A 54-acre tract northeast of the subject property is the site of the $300 million marina and high-end residential development. ASKING PRICE: $4,557,500 / ($22.50/sq.ft.) All or part - Seller willing to divide TERMS: Cash/third party financing NORTH PADRE ISLAND CORPUS CHRISTI, TEXAS 2

3 Surrounding Properties HAMPTON INN UNDER CONTRACT TO NATIONAL RETAILER ±500 Ft. ±450 Ft. AMERICAN BANK ±350 Ft. SAND DOLLAR AVE. (Platted) ±300 Ft. Town Center Photo Date: NORTH PADRE ISLAND CORPUS CHRISTI, TEXAS 3

4 'PSU 8PSUI %BMMBT &M 1BTP "VTUJO 4BO "OUPOJP ). 42!# /! )PVTUPO 34!, 7! 4% 27!9 Copyright 2008 Larry Childers. All Rights Reserved. Regional Location $03164 $)3*45*.D"MMFO #%.42!, "53).%33 $)342)#4 4%8!3! - 5.)6%23)49 #/2053 #(2)34).!6!,!)2 34!4)/. #/2053 #(2)34) /6&$&4 $06/5: 0!#+%29 #(!..%, 1BESF *TMBOE %SJWF 1SPQFSUZ #(!0-!. 2!.#( 3#!,% ). -),% Map Property of Don Rodman 0!$2% )3,!.$.!4)/.!, 3%!3(/2% Corpus Christi is the commercial center of a well-defined regional market covering a significant part of South Texas. Key ingredients in the area's economy are visitor and leisure businesses, petroleum and petrochemical processing, military facilities, fabrication, oil and gas exploration and production, a strong retirement community, higher education, regional health care, farming, ranching, seafood production, transportation and primary metals. Corpus Christi is one of the nation's 10 busiest seaports. NORTH PADRE ISLAND CORPUS CHRISTI, TEXAS 4

5 North Padre Island is a resort catering to visitors coming primarily from cities in Texas and Mexico. It is also a thriving waterfront residential community with more than 2,400 residences. There are hundreds of additional lots now available to home builders. About 2,800+ platted lots will be part of future subdivision development. The Island has a significant population of Winter Texans each year that complement the short-term visitors who come for the beach and the sun the rest of the year. North Padre Island Intracoastal Waterway JFK Causeway To Mainland Public Marina Site Photo Date: Texas GLO Property Dunes Newport Pass Habitat Preserve The pace of construction on the Island has increased sharply in recent years adding new hotels, multi-family projects, commercial buildings and homes. Two public projects have contributed to this growth. First was the completion in 2004 of a project to dramatically improve the JFK Causeway, making trips to and from the mainland easier. The second is construction of Packery Channel by the Army Corps of Engineers in cooperation with the City of Corpus Christi. This small boat pass will be in full operation by the fall of 2006, providing quick access to offshore fishing and boating in the Gulf of Mexico. Property Owned By Asset Development Site of Beachwalk Village Packery Channel Site of Balli Village Resort Gulf of Mexico Asset Development Corp. owns more than 300 acres of land south of the channel and near the Gulf beach. The firm has announced plans to start construction in 2006 on Beachwalk Village, a $300 million, 90-acre component of a larger resort development. More than five miles of Mustang Island north of Packery Channel is home to the Mustang Island State Park and the Newport Pass Habitat Preserve. Further north, approximately 15 miles from the subject property, construction is underway on the Newport Beach and Golf Village which includes an Arnold Palmer golf course. It is the first phase of a 1,400-acre planned community. Steve Roberts Realty Associates 5934 S. Staples, Suite 202, Corpus Christi, Texas (361) fax (361) Listor: Larry K. Childers - (361) lchilders@stx.rr.com Drawings Presented by Asset Development - April 2006 The information contained in this property description has been obtained from reliable sources, however, no representations or warranties, either expressed or implied, are made as to accuracy. The property is subject to change of price, withdrawal from the market or prior sale without notice. NORTH PADRE ISLAND CORPUS CHRISTI, TEXAS 5 6/08