Buy this site now! Let your business enjoy major tax advantages!

We understand traditional funding is hard to come by in the current environment.  The owner of this site is also a credit facility that will entertain the financing of qualified build-to-suit end-users who possess a demonstrated history of developing and operating national and regional chain stores.  This can be accomplished in variety of ways – land contributions, sale-leasebacks, seller-finance, net-lease operating agreements, and by other means.  Ideas and flexibility is the name of the game right now.  So take a hard look at the demographics and if this corridor is right for your product, then let us find a way to make it work.

Autozone/99¢-Only Anchor Configuration

The developed Site is a 4.525-acre commercial subdivision of land adjoining a newly built-out 466-lot single-family residential subdivision known locally as Chase Park. The Site is located on the southeast corner of State Highway 146 and Bacliff Drive, Texas City, TX 77518. The hard corner is improved with a (Exxon) branded convenience store with pumps. The tract is addressed locally as 4801 SH 146, Bacliff, Texas 77518 (tax records).

Two stores that are needed in the neighborhood are a 99-Cent Only store and and an Autozone store. If the cash registers are behind the 100 foot of depth line, the city of Texas City reportedly will not collect a city sales tax. Additionally, building and plot plan submissions are not required since the buildings would be located outside the municipal limits of Texas City.

The closest Wal-Marts are 3.2 miles north and 6.4 miles west.

There is a 4,800 sq.ft. O'Reilly Automotive store on 0.43 acres (built 1990) five blocks north.

There are two Dollar stores on SH 146 in this zip code:

Family Dollar - 4201 Hwy 146; 9,100 sq.ft. on 0.336 acres of land, built in 2008.
Dollar General - 4645 Hwy 146; 9,280 sq.ft. on 1.08 acres of land, built in 2000.

See tabbed Demographics

SITE DEVELOPMENT -

The overall tract size is 197,128.5 square feet, or 4.525 acres. The tract is L shaped. 13.5' above sea level and drains to the State Highway 146 right Of Way. The Site fronts SH 146 for a distance of 509.15 feet and Bacliff Drive for a distance of 76.98 feet.

Highest and Best use of the back acreage is for mixed commercial use since it is situated in the unincorporated area of Galveston County and, hence, not required to pay the city of Texas City sales or occupancy tax.

We are familiar with the demographics and consider an Autozone and 99¢ Only store to be the right anchor combination along with a couple of fast food stores.

Located at the entrance to Chase Park residential development. Back 2.5 acres is in County. We are subdividing: Motel site - $600k; Restaurant/retail pads $12 - $15/SF, depending upon size and location. The hotelier can avoid the 7% city hotel/motel tax, but get the effect of being on SH 146 - immediate turn-in and visibility. There are 29,000 cars/day on SH 146 at FM 646.

Will sell individual parcels or all.

• Property size - at 4.5 acres and on a corner, preliminary subdivision (2 to 4) pad sites for restaurant or high utility retail use.
• Locale - Bayport (Houston) Terminal to the North; Galveston/Texas City Terminal to the South - Top 10 Maritime U.S. Container Ports
• Traffic flow - 29,000 vehicles/day (at capacity); primarily work-related; Texas Highway Dept. to upgrade to 6-lanes (Subject's frontage not part of taking/ROW condemnation) to accommodate forecasted 40,000 vehicles/day.
• Visibility - Five-story building height allows visibility to Galveston Bay; 450' of frontage on State Highway 146 and one curb cut on Bacliff Drive. Excellent density and spontaneous turn-in times.
• Target market - Two new Wal-Marts (3.4 miles & 7 miles) and a Target (3.6 miles), three sprawling mixed-use residential developments, and a massive construction force to complete area-wide transition from 30% developed to full urbanization in progress = equals long term room demand.
• Competition - Just opened branded Days Inn 3.7 miles north; Flood Plain, protected Grasslands, high power transmission lines (& RR ROW) along west-side frontage of SH 146 block new competition. E/S is already built up. One motel under construction 6.4 miles south.
• Restrictions - Don Carroll, Director of Planning for the city of Texas City, and Mike Fitzgerald, chief engineer for Galveston County say a motel up to five stories would be welcome, along with subdivided retail/restaurant uses.
• Utilities - An existing 12" sanitary sewer line is in front, and an existing 8" water line is at the rear of the Site.

Small tracts in this corridor are priced from $12 to $15 per sq.ft.

All written offers will be seriously considered.

The unique thing about this tract is that the motel site avoids the 7% Texas City Occupancy Tax, by its location behind the restaurant/retail pads:

If two 150-room motels are located side by side on SH 146 – one is in Galveston County and one is also in the incorporated Texas City limits, the Texas City location would be worth about $1.3 million less. The two motels in this example cost the same to operate with the exception of the tax. That means the 7% tax is paid for out of Net Income – the bottom line, or residual profit to the owner before debt service (ouch!). That 7% tax represents 13% of Net Operating Income, and a big loss in Value.

The spread is attributable to the better location of our site. If you divide the savings by, say, two acres (the back acreage), this adds $12.97 per square foot due solely to location.

$600,000 is not too much to ask (for the back acreage) when we are delivering that amount of competitive advantage.