For Sale or Ground Lease Prime Restaurant or Retail. Cresson, Texas

Transcription

1 9321 E. Hwy 377 Cresson, TX For Sale or Ground Lease Prime Restaurant or Retail. Cresson, Texas E Hwy 377 Great location for restaurant or retail Great visibility on Hwy 377 Traffic counts in excess of 45,000 vpd. The information contained herin was obtained from sources believed reliable; however, Clark Real Estate Group makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price prior to sale or lease or withdrawal without notice. Each office is independently owned and operated.

2 9321 E. Hwy 377 Cresson, TX PROPERTY SUMMARY Property: Location: Size: Improvements: Topography: Road Frontage: Divisible: Utilities: Traffic Counts: Zoning: Price: Terms: Available: Prime Development land for Restaurant or Retail use The property is located on Hwy 377 in Cresson, TX. In the heart of the Barnett Shale Fort Worth Basin. 10 miles NE of Granbury 15 miles SW of Benbrook 17 miles SW of Weatherford miles NE of Cleburne - Total lot size acres Two pad sites available- approx. 20,000 sq. ft and 19,560 sq. ft. Billboard on-site Level site 347 ft. on Highway 377 and 118 ft. on Crook Street Owner will divide into two pad sites Electric is provided by United Coop Services, Cresson Municipal Water Traffic count at the intersection of Hwy. 377 & 171 is 61,000 vpd. Traffic count on Hwy 377 is 40,000 plus vpd. General Commercial Sale - $11.75/ sq. ft. Ground Lease to be determined based on Lease Structure, Credit and Use Cash to seller at closing Immediately Comments The property is perfect development site for Restaurant and Retail. Motorsport Ranch and the NEW Wake Sport Ranch are big draws for the area. Possible billboard use available. All information furnished concerning this property has been obtained from sources deemed reliable, and it is believed to be correct, but no responsibility is assumed by this broker and no warranty or representation is made as the accuracy thereof, and the same is submitted subject to errors, omissions, prior sale or removal from the market without notice. The information contained herin was obtained from sources believed reliable; however, Clark Real Estate Group makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price prior to sale or lease or withdrawal without notice. Each office is independently owned and operated.

3 9321 E. Hwy 377 Cresson, TX The information contained herin was obtained from sources believed reliable; however, Clark Real Estate Group makes no guarantees, warranties, or represen-tations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price prior to sale or lease or withdrawal without notice. Each office is independently owned and operated.

4 Lot with available billboard space

5 Aerial Labeled

6 Cresson, TX

7 Aerial

8 TX 167 TX 171 CLEARVIEW SCENIC RIDGE PRIMROSE THISTLE LAUREL DAISEY WOODSTREAM CT CR 1000 PATE RD PALOMINO CT SKYLINE CT TX 171 CR 917 CITY LIMITS MAP CRESSON, TEXAS AUGUST , ,800 1,400 Feet PEBBLE RIDGE LN STONEWIC K DR STONE MOUNTAIN CT STONE MOUNTAIN RD HIDDEN MEADOW CT HIDDEN CREEK RD YELLOW STONE RD GARDEN G ATE CT BEAR CREEK LN CITATION DR CON STELLATION DR CONCORDE CIR LEGEND CITY LIMITS ETJ COUNTY BOUNDARY LOMA BLANCA LANE DEER RUN CT BLUEBONNET DR MOUNTAIN RIDGE BLANCA MEADOWS CT TRE S VIST AS CT BROOK DR SKYLINE DR BLANCO MESA DR CANTRELL CT HUGHIE LONG RD CLEAR SKIES GLASCOCK DR SLOCUM RANCH RD TX 171 BRADDOCK US 377 TX 171 CROOK BROADWAY PITTSBURG ALTOONA BLAIR PENNYSYLVANIA MIFLIN JUANITA LANCASTER CROOK CR 918 OLD GRANBURY RD OLD GRANBURY US 377 BRADDOCK PITTSBURG TX 171 BROADWAY US 377 CROOK ALTOONA BLAIR DOWNTOWN CRESSON INSET MIFLIN JUANITA PENNYSYLVANIA LANCASTER CROOK MAP CONSTRUCTED BY: PIERTECH provides this information "as is" without warranty of any kind and assumes no liability for any errors, omissions or inaccuracies. The information depicted here has been developed specifically for the use of the city council and mayor of the said municipality (Cresson, Texas) and is not intended to determine exact property lines. Property lines are shown for reference only. The information contained herin was obtained from sources believed reliable; however, Clark Real Estate Group makes no guarantees, warranties, or represen-tations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price prior to sale or lease or withdrawal without notice. Each office is independently owned and operated.

9 Executive Summary Prepared By: Tim Clark, CCIM Cresson Cresson Cresson Texas, United States Texas, United States Texas, United States Site Type: Radius Radius: 10 mile Radius: 15 mile Radius: 20 mile 2008 Population Total Population 25, , ,293 Male Population 49.4% 48.9% 48.6% Female Population 50.6% 51.1% 51.4% Median Age Income Median HH Income $55,803 $61,622 $55,173 Per Capita Income $25,643 $29,856 $26,493 Average HH Income $69,917 $79,982 $70, Households Total Households 9,319 51, ,921 Average Household Size Annual Rate 3.95% 3.75% 1.87% 2008 Housing Owner Occupied Housing Units 77.8% 71.6% 60.7% Renter Occupied Housing Units 12.5% 17.5% 29.5% Vacant Housing Units 9.7% 10.9% 9.8% Population 1990 Population 13,145 73, , Population 19, , , Population 25, , , Population 29, , , Annual Rate 3.91% 3.54% 1.94% Annual Rate 3.56% 3.64% 2.35% Annual Rate 2.78% 3.33% 2.42% In the identified market area, the current year population is 527,293. In 2000, the Census count in the market area was 435,331. The rate of change since 2000 was 2.35 percent annually. The five-year projection for the population in the market area is 594,348, representing a change of 2.42 percent annually from 2008 to Currently, the population is 48.6 percent male and 51.4 percent female. Households 1990 Households 4,766 26, , Households 7,022 38, , Households 9,319 51, , Households 10,721 60, , Annual Rate 3.95% 3.75% 1.87% Annual Rate 3.49% 3.48% 2.07% Annual Rate 2.84% 3.29% 2.36% The household count in this market area has changed from 167,124 in 2000 to 197,921 in the current year, a change of 2.07 percent annually. The five-year projection of households is 222,430, a change of 2.36 percent annually from the current year total. Average household size is currently 2.62, compared to 2.56 in the year The number of families in the current year is 135,285 in the market area. Housing Currently, 60.7 percent of the 219,518 housing units in the market area are owner occupied; 29.5 percent, renter occupied; and 9.8 percent are vacant. In 2000, there were 180,293 housing units 60.0 percent owner occupied, 32.8 percent renter occupied and 7.3 percent vacant. The rate of change in housing units since 2000 is 2.41 percent. Median home value in the market area is $110,459, compared to a median home value of $192,285 for the U.S. In five years, median home value is projected to change by 1.22 percent annually to $117,336. From 2000 to the current year, median home value changed by 3.56 percent annually. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2008 and ESRI converted 1990 Census data into 2000 geography. The information contained herin was obtained from sources believed reliable; however, Clark Real Estate Group makes no guarantees, warranties, or represen-tations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price prior to sale or lease or withdrawal without notice. Each office is independently owned and operated.

10 Executive Summary Prepared By: Tim Clark, CCIM Cresson Cresson Cresson Texas, United States Texas, United States Texas, United States Site Type: Radius Radius: 10 mile Radius: 15 mile Radius: 20 mile Median Household Income 1990 Median HH Income $34,443 $36,081 $31, Median HH Income $45,630 $49,116 $42, Median HH Income $55,803 $61,622 $55, Median HH Income $62,699 $68,340 $64, Annual Rate 2.85% 3.13% 2.96% Annual Rate 2.47% 2.79% 3.14% Annual Rate 2.36% 2.09% 3.14% Per Capita Income 1990 Per Capita Income $15,032 $15,757 $15, Per Capita Income $21,580 $24,206 $21, Per Capita Income $25,643 $29,856 $26, Per Capita Income $28,539 $34,680 $30, Annual Rate 3.68% 4.39% 3.37% Annual Rate 2.11% 2.58% 2.33% Annual Rate 2.16% 3.04% 2.79% Average Household Income 1990 Average Household Income $40,607 $42,435 $40, Average Household Income $57,784 $64,061 $56, Average HH Income $69,917 $79,982 $70, Average HH Income $77,564 $93,172 $80, Annual Rate 3.59% 4.2% 3.43% Annual Rate 2.34% 2.73% 2.63% Annual Rate 2.1% 3.1% 2.87% Households by Income Current median household income is $55,173 in the market area, compared to $53,154 for all U.S. households. Median household income is projected to be $64,399 in five years. In 2000, median household income was $42,744, compared to $31,929 in Current average household income is $70,016 in this market area, compared to $73,126 for all U.S. households. Average household income is projected to be $80,667 in five years. In 2000, average household income was $56,538, compared to $40,367 in Current per capita income is $26,493 in the market area, compared to the U.S. per capita income of $27,916. The per capita income is projected to be $30,402 in five years. In 2000, the per capita income was $21,912, compared to $15,730 in Population by Employment Total Businesses 1,362 5,850 24,050 Total Employees 6,273 36, ,097 Currently, 94.6 percent of the civilian labor force in the identified market area is employed and 5.4 percent are unemployed. In comparison, 93.4 percent of the U.S. civilian labor force is employed, and 6.6 percent are unemployed. In five years the rate of employment in the market area will be 94.8 percent of the civilian labor force, and unemployment will be 5.2 percent. The percentage of the U.S. civilian labor force that will be employed in five years is 93.9 percent, and 6.1 percent will be unemployed. In 2000, 65.8 percent of the population aged 16 years or older in the market area participated in the labor force, and 0.4 percent were in the Armed Forces. In the current year, the occupational distribution of the employed population is: 61.2 percent in white collar jobs (compared to 60.2 percent of U.S. employment) 15.2 percent in service jobs (compared to 16.5 percent of U.S. employment) 23.6 percent in blue collar jobs (compared to 23.3 percent of U.S. employment) In 2000, 81.1 percent of the market area population drove alone to work, and 2.5 percent worked at home. The average travel time to work in 2000 was 26.1 minutes in the market area, compared to the U.S. average of 25.5 minutes. Population by Education In 2008, the educational attainment of the population aged 25 years or older in the market area was distributed as follows: 15.8 percent had not earned a high school diploma (16.4 percent in the U.S.) 27.9 percent were high school graduates only (29.6 percent in the U.S.) 6.5 percent had completed an Associate degree (7.2 percent in the U.S.) 17.3 percent had a Bachelor s degree (17.0 percent in the U.S.) 8.6 percent had earned a Master s/professional/doctorate Degree (9.7 percent in the U.S.) Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2008 and ESRI converted 1990 Census data into 2000 geography ESRI On-demand reports and maps from Business Analyst Online. Order at or call /16/2009 Page 2 of 2 The information contained herin was obtained from sources believed reliable; however, Clark Real Estate Group makes no guarantees, warranties, or represen-tations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price prior to sale or lease or withdrawal without notice. Each office is independently owned and operated.

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15 The information contained herin was obtained from sources believed reliable; however, Clark Real Estate Group makes no guarantees, warranties, or represen-tations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price prior to sale or lease or withdrawal without notice. Each office is independently owned and operated.