UNIQUE LIFESTYLE DEVELOPMENT SITE WITH A COMPETITIVE ADVANTAGE!

Vacant Land for Sale
Also listed as Multi-Family
Catylist Listing ID: 30018103
Property Subtypes: Industrial, Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Self Storage, Other
Gross Land Area: 2.18 - 13.52 Acres
Sale Price: $2 PSF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/19/2017

Overview / Comments

Approximately 40% of the Las Cruces local home building activity is happening within the Metro Verde Development Community. Reasons for this include but are not limited to:
* Red Hawk Golf Club Club the primary anchor has received top awards multiple years for being the "best in state"
* Hundreds of acres of parks, trails, and open space exist
* Thousands of acres adjoin the development in the form of the Organ Mountains and Desert Peaks national monument to wide a wide range of outdoor activities most notably Dona Ana Peak.
* The development to date $20,000,000 infrastructure commitment
* $12,000,000 in additional funding from the City is occurring
* The development is a true master planned community to incorporate business parks, retail, office, mixed use housing, and single family housing.
* In addition tot he extensive housing that already exists 600 lots are already built out for construction with another 300 pending.
* AND WE HAVE NOT EVEN MENTIONED THE PENDING CONSTRUCTION OF THE CLUB HOUSE AT RED HAWK GOLF CLUB THAT WILL TAKE THE DEVELOPMENT TO A WHOLE NEW LEVEL AND OFFER AMENITIES BEYOND COMPARE.

If you want to offer housing and commercial options with a unique calling card and be different, this is your opportunity.

This location offers 13.52 acres in total with 2.18 acres being reserved at the corner if desired for retail or commercial services of multiple types. The primary intended use as granted is for multi-family development.

The Las Cruces class "A" multi-family market has been well absorbed in recent years with an average occupancy rate of almost 94%. Due to a lack of product being constructed in recent years the class "A" market now appears to be 99% absorbed. A developer with intentions of developing multi-family housing with a residential type feel and unique appearance could really "cash in" when you consider the activity noted. Opportunities would include but not be limited to:
1) developing units that have the appearance of small to mid sized homes
2) offering units that incorporate garages
3) the ability to create unique views that are second to none
4) the ability to offer open space and a sense of "community" within a larger development
5) not having to offer typical multi-family type amenities due to what the expansive system of parks, splash parks, planned club houses, fitness centers and recreation areas that already exist in close proximity which come at an expensive development cost

This location has been approved for a maximum density of 957 units currently. The ability to possibly change the land use guidelines to additional single family or other elements that would make sense for area development also exist. You just have to give this site and overall development your consideration. Opportunities exist on so many levels!

Additional Details

Nearest MSA: Las Cruces
County: Dona Ana
Taxing Authority: Dona Ana County
Zoning: U5B URBAN CENTER PER APPROVED LAND USE GUIDELINES FOR SUBDIVISION
Property Visibility: Good
Legal Description: Phase 3A, 3B,3C, 3D, & 3E of Metro Park Village Village Subdivision
Largest Nearby Street: Jornada Road & Peachtree Hills Road
Highway Access: Highway 70 & Sonoma Ranch or loop to Mesa Grande & Highway 70 to Jornada Road North
Airports: ELP & Las Cruces International
Zoning Description: U5b Urban Center per approved land use guidelines for subdivision attached
Topography: Level
Available Utilities: Electric, Water, Gas, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,042 15,988 50,029
Median Age: 28.98 30.67 35.09
Households: 1,290 5,528 18,888

Source

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