7
GURLEY LANE 21ST STREET MULTIFAMILY LAND FOR SALE 2625 SOUTH 21ST STREET WACO, TEXAS 76706
GURLEY LANE
21ST
STR
EET
MULTIFAMILY LAND FOR SALE
2625 SOUTH 21ST STREETWACO, TEXAS 76706
PROPERTY SUMMARY
• 10.4± acre site in South Waco.
• Zoned R-3C (Multi-Family Residence District).
• Current entitlements for 240-unit multifamily development.
• Located within the City of Waco’s Enterprise Zone which provides incentives for economic development.
• Close proximity to Baylor University, Downtown Waco, famed Waco Circle, Valley Mills Drive and the Interstate 35 corridor.
RADIUS 3 mile 5 mile 10 mile
Population:
2020 Projection 7,376 56,536 118,800
2015 Estimate 6,964 54,721 114,607
2010 Census 6,017 52,756 109,280
Growth 2015-2020 5.92% 3.32% 3.66%
Growth 2010-2015 15.74% 3.72% 4.87%
2015 Population Hispanic Origin 2,914 21,781 40,848
2015 Population by Race:
White 4,692 41,811 82,905
Black 1,949 9,526 25,751
Am. Indian & Alaskan 70 812 1,572
Asian 107 1,448 1,987
Hawaiian & Pacific Island 4 48 140
Other 142 1,076 2,251
U.S. Armed Forces 3 28 41
Households:
2020 Projection 2,684 19,324 42,917
2015 Estimate 2,547 18,676 41,343
2010 Census 2,258 18,069 39,428
Growth 2015 - 2020 5.38% 3.47% 3.81%
Growth 2010 - 2015 12.80% 3.36% 4.86%
Owner Occupied 908 7,649 19,456
Renter Occupied 1,638 11,026 21,887
2015 Avg Household Income $32,729 $37,863 $42,745
2015 Med Household Income $19,588 $25,743 $30,504
2015 Households by Household Inc:
<$25,000 1,431 9,133 17,208
$25,000 - $50,000 627 5,252 12,719
$50,000 - $75,000 239 1,874 4,905
$75,000 - $100,000 164 1,439 3,614
$100,000 - $125,000 46 375 1,282
$125,000 - $150,000 1 192 616
$150,000 - $200,000 0 193 493
$200,000+ 37 218 505
DEMOGRAPHICS
2625 SOUTH 21ST STREET, WACO, TEXAS 76706
10.4 +/- ACRES
GURLEY LANE
SOUTH WACOELEMENTARY
SCHOOL
LASALLE AVENUE
PRIMROSE DRIVEFAMED WACO CIRCLE
84
84
84
77
77
77
35
35
484
396
340
6
31
340
Hewitt
Woodway
Beverly Hills
Lake
Wac
o
Brazos River
Bellmead
LacyLakeview
China Spring
Robinson
Waco
Waco Regional Airport
China Spring Rd
Jack
Kul
tgen
Fwy
S 12th St Rd
Lak e Sho
re Dr
Spee
glevil
le Rd Bosque Blvd
Imperial Dr
Chapel Rd
Sa
nger Ave
Lake Air DrM
ac Arthur DrHil lcrest Dr
N 25th St
Herrin
g
Ave
Newland Dr
Orchard Ln
Rock Creek Rd
W Lake Creek R
d
LOCATION HIGHLIGHTS
• Less than 1.5 miles from the new H-E-B plus! flagship store located at Valley Mills Drive and I-35. This $20 million, 121,000-square foot store recently opened along with an adjacent 20,000 square foot retail center.
• Located 1.0 mile from Waco’s famed Circle.• Adjacent to the quaint Pierrard neighborhood which experiences
little turnover• 2.7 miles to Baylor University campus.• 2.8 miles to downtown Waco.• Adjacent to the City of Waco Transit Route 9 / South Terrace which
services Baylor University, downtown Waco, H-E-B plus! Superstore and Waco’s largest outdoor retail center, Central Texas Marketplace.
• 1.4 miles to Dallas-based Leon Capital Group’s retail development which includes a 52,000-square foot Gander Mountain, Starbucks, PotBelly, Bubba’s 33 and a 107-room Hilton Home2 Suites.
ENTERPRIZE ZONE OVERVIEW
• Located within the City of Waco’s Enterprise Zone allowing for incentives for economic development.
• The State of Texas empowers local Economic Development Corporations (“EDC”) the authority to offer up to a 7-year abatement on property & personal property tax to incentivize new development that will generate significant economic impact in their respective community.
• For this potential development, the result is an additional $500K+/- in retained annual cash flow for the first 5 years; and an additional $200K+/-for the last 2 years of the 7-year term.
• Projects located in a State Enterprise Zone qualify for a 7-year sales & use tax rebate. This rebate includes the sales tax generated from the purchase of construction materials – this could generate a $500,000+/-one time cash rebate from the State of Texas after construction is completed.
• The subject property is located on the boundary of one the city’s Target Economic Development Areas. As a result the property is a strong candidate for an additional 3-year property-tax abatement (10-year total).
2625 SOUTH 21ST STREET, WACO, TEXAS 76706
Waco has evolved into a unique and appealing place to live and do business because of its rich diversity, abundant natural resources, convenient location and numerous amenities; it has big city advantages without the big city hassles. You won’t find heavy traffic, long commutes, long lines, or a high cost of living. You can live in the country but have quick, easy access to downtown, I-35 and other major highways. The City of Waco is located in the heart of the Texas manufacturing and technology corridor on Interstate Highway 35, just 90 miles south of Dallas and 90 miles north of Austin. Waco has the resources, land, infrastructure, labor force, essential services, strategic partnerships and incentives for long term job and population growth and innovative commercial and industrial development.
LOCATION
Waco, the seat of McLennan County, Texas, is located 90 miles south of Dallas / Fort Worth, 90 miles north of Austin and 180 miles northwest of Houston. The Waco Metropolitan Statistical Area (MSA) covers 1,000 square miles, with the Waco corporate limits encompassing 105 square miles, including 12 square miles of water.
HIGHER EDUCATION
Waco has three institutions of higher education.
• Baylor University, which was chartered by the Republic of Texas in 1845, is the largest Baptist institution in the world. A private university with a record fall 2014 enrollment of 16,263 students, Baylor offers 144 baccalaureate programs, 74 master’s degree programs, 33 doctoral programs.
• McLennan Community College (MCC) offers academic programs to more than 9,500 students. MCC is a public, two-year community college offering one and two-year associate degrees and a variety of courses for transfer to a four-year institution. It also provides a wide range of workforce development training and continuing education courses. In addition, the school has partnerships with four-year state universities that offer bachelor’s and graduate degree programs on campus through the University Center at MCC.
• At Texas State Technical College (TSTC), over 4,100 students are training in programs ranging in length from one to two years. There are nearly 100 Associate of Applied Science degrees or Certificate of Completion options available. The TSTC Corporate College, located on the Waco Campus, provides a direct link between students and industry through its custom-tailored training solutions to meet or exceed the needs of industry.
WACO, TEXAS
2625 SOUTH 21ST STREET, WACO, TEXAS 76706
CITY OF WACO TOP 10 EMPLOYERS
Company Industry Employees
Baylor University Education 2,675
Waco ISD Education 2,500
L-3 Communications Aerospace 2,400
Providence Healthcare Network Healthcare 2,397
Hillcrest Baptist Medical Center Healthcare 1,800
City of Waco Local Government 1,600
H-E-B Retail 1,400
Walmart Retail 1,323
Sanderson Farms Manufacturing 1,041
Midway ISD Education 1,014
CITY OF WACO OVERVIEW
City of Waco
City of Waco Government Council / Manager
Population - City of Waco 124,805
Population - Waco MSA 234,906
Population - 50-mile radius 646,246
Population - 100-mile radius 8,337,522
Property / Income Information
Average Home Value $133,400
Average Household Income $55,768
Economics & Business
Waco MSA Business 8,000+
Labor Force 115,628 (Feb-16)
Unemployment Rate 3.8% (Feb-16)
Transportation (Waco MSA)
Airports 3 (Waco Regional / TSTC / McGregor Executive)
Major Highways
7 (I-35, US Highway 84 / US Highway 77 / Texas State Highway 6 / Texas State Highway 31 / Texas State Highway 164 / Texas State Highway 164 / Texas State Highway 317)
Rail3 Industrial (Union Pacific / Burlington Northern / Santa Fe)1 Passenger (Amtrak)
Bus Service 1 Local (Waco Transit)1 Countrywide (Greyhound)
Motor Carriers 20
Higher Education
Higher Education InstitutionsBaylor University / McLennan Community College (MCC) / Texas State Technical College (TSTC)
Higher Education Total Employees 3,600
Students enrolled in higher education 29,000+
2625 SOUTH 21ST STREET, WACO, TEXAS 76706
GURLEY LANE
VALL
EY M
ILLS
DRI
VE
LAKE WACO
10.4+/- ACRES
FAMED WACO CIRCLE
SOUTH WACOELEMENTARY
SCHOOL
LASALLE AVENUEPRIMROSE DRIVE
Jeff Rogers 512.314.5207 [email protected]
Chris Stutzman 512.314.5203 [email protected]
Tracy Peyton 512.314.5212 [email protected]
901 South MoPac ExpresswayBuilding Four, Suite 250
Austin, Texas 78746512.328.5600
