Confidential Offering Memorandum · Echelon Land & Ranch
10811 San Jose Avenue
Asking Price
$1,600,000
Price / Acre
$522,876
Yr-3 Stab Cap
10.34%
Stab NOI
~$165K
The Opportunity
Three acres. Three income levers. One unrestricted floor.
3.06 contiguous acres in the Travis County ETJ. No zoning, no floodplain, no HOA. Improved with three sub-five-year manufactured homes, three RVs, a ~2,000 SF metal warehouse, and four month-to-month ground leases that have sat well below market for over a decade.
This deal is priced on a sequenced value-add roadmap, not a stabilized cap alone. Three independent NOI levers and one capex play. Stop at any phase and you still own the floor: three unrestricted acres in one of the most absorbent industrial corridors in Texas.
Permitted Uses (Unrestricted ETJ)
Price
$1,600,000
$522,876 / acre
Lot Size
3.06 AC
133,294 SF · APN 03392104181008
Zoning
Unrestricted
Travis County ETJ · no floodplain
Yr-3 Cap
10.34%
~$165K stabilized NOI
Interactive Walkthrough
Walk the site.
Explore the property in full 360. Click and drag to look around, or use the navigation to move between vantage points.
Property Location
Sequenced Execution
Four phases. ~$190K of revenue lift. ~$45K of total capex.
Phases 1 and 2 require no material capex. Each phase generates a discrete revenue increase on its own timeline. Each phase is independent of the next.
Phase 01
Day 1 to Month 4
Residential Lease-Up
Two manufactured homes convey vacant; the third stays under a Day-1 owner-tenant lease at $450/mo. Lease the two vacants and three conveying RVs at confirmed Del Valle corridor rents.
Phase 02
Month 4 to Month 9
Warehouse Independent Lease
~2,000 SF metal warehouse currently bundled into a single below-market commercial lease. Carve out and re-trade independently at $1.35/SF/mo NNN. Conservative end of the Del Valle industrial range.
Phase 03
Month 6 to Month 12
Ground Lease Re-Trade
Four month-to-month ground leases have sat substantially below market for over a decade. Re-paper sequentially to current corridor rates without touching the dirt.
Phase 04
Month 12 to Month 24
Pad Expansion
~2 undeveloped acres with electrical already pulled. Add four rentable pads, each absorbing an RV or single-wide manufactured home at the $1,250/mo market.
PHOTO GALLERY
A Closer Look
The Math
INHERITED INCOME AT DAY ONE.
10.34% CAP BY YEAR 3.
Stabilized NOI grows from a small inherited base to approximately $165K/yr at the close of Phase 4. A 10.34% cap at ask, climbing to 11.20% by Year 5 under organic growth.
Stabilized NOI Lift
+$190,000
Annual · across Phases 1–4
Total Capex
~$45,000
Warehouse separation + four new pads
Pro Forma · Annual
Excerpt · OM Section 06
Valuation Thesis
~$165K stabilized NOI ÷ $1.6M basis = 10.34% Yr-3 cap. Operator pricing on unrestricted Travis County dirt, with three independent ways to get there.
Pro-forma estimates for illustrative purposes. Buyer to independently verify all underwriting, leases, and improvements. Stabilization assumes orderly execution of Phases 1–4 over 24 months.
Yield Progression
One basis. Four yield milestones.
Each milestone reflects the cap rate at the close of that phase, holding the acquisition basis constant at $1,600,000.
Year 1 · Phase 1
3.14%
Residential lease-up only
Year 2 · Phase 2–3
7.84%
Warehouse + ground-lease re-trade
Year 3 · Stabilized
10.34%
Pad expansion online
Year 5 · Organic Growth
11.20%
4% rent · 3% expense growth
Lot Size
3.06 AC
133,294 SF · Travis CAD
Zoning
Unrestricted ETJ
No HOA · no overlay
Floodplain
None
FEMA Zone X
Day-1 Income
$450 / mo
Mfg Home C owner-tenant lease at close
Path to Close
Sixty days. Seller financing considered.
Day 0
LOI Accepted
Terms agreed · earnest money posted · diligence opens
Day 1–14
Site Diligence
Survey · utility verification · improvements walkthrough
Day 14–30
Lease & Title Review
Estoppels on ground leases · title commitment · Mfg Home C lease executed
Day 30–45
Financing
Loan commitment · seller financing structure if elected
Day 45–60
Close
Funds wired · deed recorded · operations handoff
The Corridor
Where Austin's industrial demand is going next.
- Inside the SH-130 / Tesla Giga Texas / COTA / ABIA absorption ring
- Adjacent uses: truck yards, contractor yards, fab shops, equipment storage
- New institutional-grade warehouse construction visible from site
- Travis County non-disclosure protects basis from tax-reassessment shock
Site at left · active industrial neighbors at right · SH-130 visible in background
Private Inquiry
Confidential OM available on request.
The full memorandum covers the rent roll, 5-year projection, yield path, site configuration, and corridor data. Released to qualified buyers and broker representatives.
Taylor Sherwood · Echelon Property Group · eXp Realty · 512.661.3843