TX > Pflugerville > Larkspur
Pflugerville, TX 78660,4674 Priem LN
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Pflugerville, TX 78660,4674 Priem LN
Pflugerville, TX 78660,4674 Priem LN
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Michele Turnquist

Michele Turnquist

+1(512) 431-1121
$ 12,500,000
Est. payment /mo
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Price Dropped by $2.0M

4674 Priem LN Pflugerville, TX 78660

71,137 SqFt

UPDATED:

09/30/2024 07:45 PM

Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active

Purchase Type For Sale

Square Footage 71,137 sqft

Price per Sqft $175

Subdivision Larkspur

MLS Listing ID 4796423

Originating Board actris

Year Built 2003

Annual Tax Amount $250,060

Tax Year 2023

Lot Size 5.050 Acres

Property Description

Longhorn Park, strategically located at 4674 Priem Lane in Pflugerville, TX, plays host to a Flex/Industrial complex featuring 4 single-story buildings ranging from 15,351 to 18,000 SF for a total of just over 70,478 SF of rentable space. The buildings, constructed in the 2004-2010 timeframe, feature spacious and versatile floor plans. The site encompasses approximately 5.05 acres and is located along the north side of Priem Lane, just west of SH-130, with easy access to all the North Austin commercial areas. The buildings feature a total of 26 grade-level loading doors and 24 ft of clearance height. Currently, the building is 67.93% occupied and the 19 sub-units range in size from 1,450 to 9,000 SF, providing wide versatility and options. Seven of the units (35,529 SF) are currently owner-occupied, providing financial convenience, comfort, and security. Currently, the owner operates an auto sales, painting, and repair/servicing shop out of the property. Challenging economic headwinds combined with a beleaguered and declining auto industry, have led to a shift in direction and ownership plans to dissolve the business.

This makes the space ideal for an Owner/User targeting an auto-related use to occupy as the Anchor Tenant, while collecting income from the rented units. Alternatively, a low supply of industrial product in the market intersecting a high demand for semiconductor (Samsung, et al) suppliers and trades needing space, this project commands ideal investment. The spaces could be leased at an attractive cap rate of 6% or higher, given the below-market rents and vacancies coupled with owner occupied space. In addition, several of the auto shop spaces have been modernized with LED lighting, and other improvements.

There are several renewals, expansions, and new leases in various stages of development. Please contact us for more information regarding the latest news and financing options available.

Location

State TX

County Travis

Interior

Heating See Remarks

Cooling See Remarks

Flooring See Remarks

Fireplace N

Exterior

Utilities Available Cable Available, Electricity Available, Sewer Connected, Water Connected

Waterfront No

Accessibility See Remarks

Parking Type Asphalt, Concrete, Parking Lot

Total Parking Spaces 200

Building

Foundation Slab

Sewer Public Sewer

Water Public

Structure Type See Remarks

New Construction No

Others

Restrictions See Remarks

Acceptable Financing Cash, Conventional, 1031 Exchange

Tax Rate 0.304655

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Don Quick & Associates, Inc.

Michele Turnquist

+1(512) 431-1121

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4674 Priem LN