For Sale STILL WATER RANCH CONDOMINIUMS. 140 Banister, Canyon Lake, TX PROPERTY HIGHLIGHTS. Jay Dabbs Advisor. Scott Forester Advisor

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1 For Sale STILL WATER RANCH CONDOMINIUMS 140 Banister, Canyon Lake, TX PROPERTY HIGHLIGHTS 2.64 acre tract with room for additional improvements Commercial septic system has capacity for additional condominiums Billboard least for additional income Public park and boat ramp located across the street Jay Dabbs Advisor (830) Scott Forester Advisor (830) SVN Norris Commercial Group 373 S. Seguin Avenue, New Braunfels, TX SALE BROCHURE (830)

2 PROPERTY INFORMATION STILL WATER RANCH CONDOMINIUMS CANYON LAKE, TX PROPERTY OVERVIEW Still Water Ranch Condominiums, located 3 miles north of Canyon Lake Dam, offers multiple hospitality opportunities presently and in the future. It's ideal for a buyer who wants to continue the current operation or add additional condos to expand the income potential. There is also enough land included to develop boat and RV storage or other business opportunities. Offers 4 two-bedroom Condo completely furnished with fully equipped kitchens, stainless steel appliances, one king size bed plus a combination of Queen and/or bunk beds for the kids, sleeping up to eight. Each condo has an upstairs private balcony with gorgeous views of the lake and hill country. Bathrooms have large tile walk-in showers, and large vanities. Each unit is equipped with high speed internet and multiple flat screen TV's. This 4 Unit Condo sits on 2.64 acres that has a sand volleyball court, concrete basketball court, outdoor fireplace, outdoor pavilion w/ kitchen, rock patio under the oaks and more land to add additional improvements. SALE OVERVIEW Sale Price: $935,000 Lot Size: 2.64 Acres Year Built: 2006 Zoning: NO ZONING Market: Submarket: San Antonio Canyon Lake 140 BANISTER CANYON LAKE, TX SVN Norris Commercial Group Page 2

3 ADDITIONAL PHOTOS STILL WATER RANCH CONDOMINIUMS CANYON LAKE TX 140 BANISTER CANYON LAKE, TX SVN Norris Commercial Group Page 3

4 ADDITIONAL PHOTOS STILL WATER RANCH CONDOMINIUMS CANYON LAKE TX 140 BANISTER CANYON LAKE, TX SVN Norris Commercial Group Page 4

5 AERIAL MAP STILL WATER RANCH CONDOMINIUMS CANYON LAKE, TX 140 BANISTER CANYON LAKE, TX SVN Norris Commercial Group Page 5

6 LOCATION MAP STILL WATER RANCH CONDOMINIUMS CANYON LAKE, TX 140 BANISTER CANYON LAKE, TX SVN Norris Commercial Group Page 6

7 CITY INFORMATION STILL WATER RANCH CONDOMINIUMS CANYON LAKE, TX 22,759 Population (ACS year unless noted) $66,087 Median Household Income Canyon Lake is centrally located between Austin and San Antonio and just minutes from New Braunfels, Gruene, Bulverde, and Spring Branch. On the rim of the beautiful Texas Hill Country, Canyon Lake has a shoreline of 80 miles and miles of cool, gentle waters on the Guadalupe River. Canyon Lake is known as the Water Recreation Capital of Texas. Canyon Lake has beautiful clear water, striped bass, camping and day parks, hiking trails, and lots of room for recreation. Twentythree boat ramps provide easy access. Canyon Lake welcomes the Upper Guadalupe River from the west while the Canyon Lake Dam provides a controlled release of cool waters into the Lower Guadalupe River, temperate enough to sustain rainbow trout life throughout the summer. The most popular section of the Guadalupe River runs between Canyon Lake and New Braunfels, lined with outfitters and all types of lodging. This scenic stretch of the Guadalupe is accessible from River Road, which crosses the Guadalupe four times. +26% Population change since 2000 It is part of the San Antonio Metropolitan Statistical Area. The Canyon Lake CDP includes a number of small, unincorporated communities surrounding Canyon Lake, including Sattler, Startzville, Canyon City, Cranes Mill, and Hancock. Communities located on the fringes of the CDP are Fischer, Spring Branch, and Smithson Valley. 140 BANISTER CANYON LAKE, TX SVN Norris Commercial Group Page 7

8 FINANCIALS STILL WATER RANCH CONDOMINIUMS CANYON LAKE, TX Annual Operating Summary Current Market Scheduled Gross Income: $123,155 $123,155 Less Vacancy Reserve: $6,157 $6157 Other Income: $3,220 $3,220 Gross Operating Income: $120,218 $120,218 Expenses: $36, % $36, % Net Operating Income: $83,735 $83,735 Loan Payments: $64,174 $64,174 Pre-Tax Cash Flow: $19, % $19, % Plus Principal Reduction: $28,897 $28,897 Total Return Before Taxes: $48, % $48, % * As a percent of Scheduled Gross Income ** As a percent of Down Payment Other income is estimated at Pro Forma Annual Operating Expenses *Taxes $8,800 $8,800 Advertising $2,800 $2,800 *Housekeeping $6,100 $6,100 *Insurance $2,000 $2,000 Repairs & Maintenance $2,250 $2,250 WORD TAX $4,528 $4,528 Septic $4,000 $4,000 Utilities $5,705 $5,705 Pest Control $300 $300 Total Expenses $36,483 $0 $36,483 Per Unit: $9,121 $0 $9,121 Per S.F.: $7.29 $0.00 $7.29 Current Market This information has been secured from sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 140 BANISTER CANYON LAKE, TX SVN Norris Commercial Group Page 8

9 DISCLAIMER STILL WATER RANCH CONDOMINIUMS CANYON LAKE, TX The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. 140 BANISTER CANYON LAKE, TX SVN Norris Commercial Group Page 9

10 ADVISOR BIO STILL WATER RANCH CONDOMINIUMS CANYON LAKE, TX PROFESSIONAL BACKGROUND Jay Dabbs is an Advisor with SVN Norris Commercial Group in New Braunfels, TX. He specializes in the greater San Antonio area. Jay believes integrity is his most valuable asset. His business is built on treating others with respect and communicating effectively. Jay's background in marketing gives him an advantage when negotiating complicated and lengthy commercial real estate transactions. JAY DABBS Jay and his wife have lived in the area for 18 years and have 2 children. His son is a member of the Clemens High School Band and a daughter who participates in volleyball and twirling. Advisor 373 S. Seguin Avenue New Braunfels, TX O: C: Jay.dabbs@svn.com 140 BANISTER CANYON LAKE, TX SVN Norris Commercial Group Page 10

11 ADVISOR BIO STILL WATER RANCH CONDOMINIUMS CANYON LAKE, TX PROFESSIONAL BACKGROUND Scott Forester currently serves as a Commercial Real Estate Advisor for SVN Norris Commercial Group in New Braunfels, TX. Scott works to actively know the commercial real estate market in the surrounding Central Texas area, including, Seguin, Canyon Lake, Spring Branch, Bulverde, Schertz, Cibolo, Seguin, San Marcos and San Antonio. Scott s 13 years of prior residential real estate helped him transition into commercial real estate in He joined the Norris Commercial Group office in New Braunfels for several reasons: SCOTT FORESTER Advisor 373 S. Seguin Avenue New Braunfels, TX O: C: Scott.forester@svn.com A great national platform to help his clients gain the most exposure A culture of sharing and collaboration amongst other Sperry Van Ness advisors, both locally and nationwide A strong team which together covers decades of experience and hundreds of transactions, each different in nature A strong growing market along the IH 35 and IH 10 corridors Skills and Tools to help Evaluate and Educate on Commercial Investment Sells and Purchases Some of Scott s greatest skills are those of a communicator and facilitator, traits he honed during many years of coaching and teaching around the state of Texas. That coaching mentality is exactly what serves his commercial real estate clients and customers so well. 140 BANISTER CANYON LAKE, TX SVN Norris Commercial Group Page 11