50 Acres- Section 3

Vacant Land for Sale
Sale Pending
Catylist Listing ID: 30295455
Property Subtypes: Industrial, Multi-Family, Retail, Vacation/Resort, Other
Status: Pending
Gross Land Area: 45 Acres
Sale Price: $1,000,000
Unit Price: $22,222 Per Acre
Sale Terms: Owner Financing, Build-to-Suit, Sale/Leaseback, Other
Cap Rate: Undisclosed
Last Updated: 10/19/2018

Overview / Comments

This is a 45 acre portfolio with 10 parcels (will not sell separately). Montwood Drive will be extended and may run through or near these properties. Montwood Drive is one of the most important streets in El Paso. It runs parallel to Montana Ave and I-10. Today, Montwood Drive ends at the western portion of Section 3 and continues at the north-eastern portion of Section 3, which is the corner of Rich Beam and Montwood Drive. In the 1970's Section 3 was sold in 5 acre tracts and it was very difficult to acquire all the different parcels to continue the street. The same thing goes for Tierra Del Este Drive that currently ends on the northern eastern portion of Section 3. If this land is developed it will greatly benefit the east-side of El Paso with excellent traffic flow and it will create numerous commercial and apartment opportunities as well as residential neighborhood with great access that will skip some of the traffic problem areas. This would be a very desirable residential development because of the proximity to I-10. We also have a second portfolio of properties with 120 acres that are being offered for the same price of $27,000.00 per acre or $0.62 per square foot. Currently, there are a total of 230 acres for sale at Section 3.

Additional Details

Nearest MSA: El Paso
County: El Paso
Zoning: RAW LAND- NO ZONING
Property Visibility: Excellent
Topography: Level
Easements: Pipelines, Electric Lines, Water Rights
Soil Type: Rock
Available Utilities: Electric, Water, Gas, Sewer
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,126 95,853 201,781
Median Age: 27.92 28.48 30.46
Households: 631 27,597 60,294

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