$4,000,000

Prime commercial lot available for sale in the City of Live Oak; behind the intersection of Loop 1604 and Lookout Rd. This is of the last large pieces of undeveloped land in the City of Live Oak. 9.1 acres behind the intersection is available immediately for sale. This land is ideal for Multifamily development and will accomodate 22 units per acre for R-5 zoning (Apartment/Multifamily). Per city of Live Oak, Multifamily housing is allowed in a B-3 zone through a specific use permit or through a rezoning to a planned unit development, the density can be allowed to increase from 22 to 25 units per acre. Additional benefits are that the new owner will get rights to use the 12.1 acre drainage easement next to this site that can be used for hiking trails, greenbelt, and should help with water detention and development. Prospective buyers should retain an independent engineer to verify the location, accessibility and capacity of all utilities. The site is located just minutes from Live Oak Town Center at the high-traffic NE San Antonio intersection of Loop 1604 and IH-35, surrounded by major draws including South Texas' only IKEA, RBFCU, and The Forum at Olympia Parkway. The area features strong demographics with a population of over 200,000 and average household income above $79,000 within a 5-mile radius, along with 110,000+ vehicles per day on Loop 1604 and proximity to top national retailers; the property also includes access to a 12.1-acre easement for recreational use.