1507 Chestnut ST, Bastrop, TX 78602 - Bastrop County

Priced at 112% of tax value. Famous Maxines of Bastrop Catering Building. Reduced $50K from prior list. 1.52 acres includes adjacent lot. 1,500 SF building with covered front porch. Circular drive. 207 feet Chestnut frontage. 3 curb cuts. One block to TX-71/TX-21, new Convention Center, City of Bastrop Office, Lost Pines Cinema, Exxon-Mobil, Shell, KFC, Taco Bell. Walk to Downtown and Colorado River. No flood plain. Current retail gap and traffic analysis. Great socio-demographics vs. Austin.

Sellers' disclosures

Why Bastrop vs. Austin?

50% higher population annual population growth: 3.3% vs. 2.2%

62% higher annual new home starts: 3.4% vs. 2.1%

64% higher annual average household income growth: 4.6% vs. 2.8%

446% higher annual average property value increase: 5.8% vs. 1.3%

3% buyer broker commission

Other than being licensed in Texas, only requirement for full commission is submit contract that escrows, closes, funds.

Legal & Taxes (from Bastrop Central Appraisal District unless noted)

Year built: 1996 & 2013

Land: 68,433 SF / 1.571 acres / .6358 hectares / 6,358 m2 (all calculations other than acreage from Southwest Partners)

207 feet frontage on Chestnut (Southwest Partners est.)

Zoning:

The C-2, Commercial-2, District is intended to provide a central and convenient location for small scale service and commercial related establishments, such as wholesale products, welding shops, flea markets, major automotive repair, upholstery shops, and other heavy commercial uses. Uses in this District may require open storage areas but shall be screened from public view. The uses for the District will typically utilize smaller sites and have operation characteristics that are not compatible with residential uses and some nonresidential uses. Convenient access to thoroughfares and collector streets is also a primary consideration. These areas should utilize landscape and buffering requirements contained within this ordinance.

HVAC SF improvements: 1,500 SF

1,100 SF main area (front section of building facing Chestnut) built in 1996

400 SF rear addition built in 2013

Outdoor improvements:

80 SF covered front porch built in 1996

48 SF open frame (appears to be rear deck) built in 2013

200 SF concrete slab poured in 2005

Legal:

Tract 1:

Property Identification: R36313

Legal description: Building Block, BLOCK 73 E W ST, ACRES 0.967

Tax value: $189,888

Tract 2:

Property Identification: R36321

Legal description: BUILDING BLOCK 73 E W ST, ACRES 0.55

Tax value: $252,912

Priced at 112% of tax value: $495,000 (list price) / $442,800 (2016 assessed value)

Exemptions: None

2016 estimated taxes: $10,985.25 (Southwest Partners' estimate)