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Empower Realty Group

admin@empower-realty.com +1(956) 467-5896

Listed by COLDWELL BANKER IMPACT PROPERTIES

$ 1,750,000

Est. payment | -/mo

10.52 Acres Lot

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$ 1,750,000

Est. payment | -/mo

Save Virtual Tour

10.52 Acres Lot

Key Details

Property Type Vacant Land

Sub Type Commercial

Listing Status Pending

Purchase Type For Sale

Subdivision Espiritu Santo Grant

MLS Listing ID 29762128

Lot Size 10.520 Acres

Property Sub-Type Commercial

Property Description

Rare NNN ground lease investment opportunity. This 10.52 acre tract consists of 17 waterfront lots and 8 non waterfront lots on the Arroyo at Circle X. Each of the 17 waterfront lots are currently leased on long term ground leases, which produce $125,182.69 in annual income. The lease agreements provide for the properties to be appraised every five years and the rents to be adjusted according to the new appraisal, based on the Arroyo frontage for each lot. The 8 non waterfront lots, totaling 4.423 acres, are not currently leased. All of the lots have frontage on Old Arroyo Circle. The non waterfront lots could be leased to provide additional income. All of the waterfront lots have leasehold improvements. The property is a non recorded subdivision located in an unincorporated area of Cameron county and is not currently zoned. FEMA Flood Zone is A for the entire property. The property was appraised in 2023 for $2,500,000.00

Location

State TX

County Cameron

Exterior

Fence Other

Utilities Available Electricity Available, Septic

Waterfront Description Waterfront

Garage No

Building

Lot Description Wooded

Water Public

Schools

Elementary Schools Other

Middle Schools Rio Hondo

High Schools Rio Hondo

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://tour.usamls.net/00-Old-Arroyo-Cir-Arroyo-City-TX-78583/unbranded

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+1(956) 467-5896

admin@empower-realty.com

4810 N Raul Longoria Ste 2, Juan, Texas 78589, United States

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00 Old Arroyo Cir. Arroyo City, TX 78583