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Development Opportunity in Rockwall, Texas for Sale Development Opportunity

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Development Opportunity in Rockwall, Texas for Sale Development Opportunity 15.6013 ACRE DEVELOPMENT OPPORTUNITY IN ROCKWALL, TEXAS FOR SALE DEVELOPMENT OPPORTUNITY Lake Ray Hubbard Rockwall The Harbor High School Rainbow Lake Rockwall Market Center Rockwall Lake Plaza at Rockwall Rockwall Indoor Sports Expo Mims Road 205 Business Park Rise Road HICKORY RIDGE Home Prices up to $275k Rockwall Fire 15.6013 Acres Station #4 Springer Hwy 205 / Goliad StreetElementary School Lofland Circle N JORDAN CORTEZ JUSTIN TIDWELL MASON JOHN CHRIS LUSSIER Managing Principal Senior Director Director Director 214-556-1951 214-556-1955 214-556-1953 214-556-1954 [email protected] [email protected] [email protected] [email protected] 15.6013 ACRES | ROCKWALL, TEXAS INVESTMENT OVERVIEW TAXING ENTITIES AND MILL RATES Property 15.6013 Acres (679,593 Square Feet)1 Taxing Authority 2020 Tax Rate Location Latitude: 32.890449 Longitude: -96.4364092 102 City of Rockwall 0.3879 Asking Price $1,050,000 199 Rockwall County 0.3250 Asking Price per Square Foot $1.55 901 Rockwall ISD 1.3500 Asking Price per Acre $67,302 Total 2.0629 Access State Highway 205, Lofland Circle, & Rise Drive Preliminary 2020 Assessed Value $1,000,000 Frontage Approximately 680 ft. on SH 205, 452 ft. on Per the Rockwall Central Appraisal District Lofland Cir., and 808 ft. on Rise Dr. DEMOGRAPHICS 0-1MI 0-3MI 0-5MI Zoning "C - Commercial District” Est. Population 6,467 34,184 77,756 "AG - Agricultural District" 5-Yr. Est. Population Growth 1.31% 2.41% 2.74% Appraisal District Property ID 11297 Avg. Household Income $79,857 $88,506 $101,293 1Acreage shown is per survey on page 5. 2Site does not have a physical address per the Rockwall Central Appraisal District. To locate the site use the address 3600 SH Median Value of 205, which is the portion of SH 205 in front of the site. Owner-Occupied $208,943 $288,498 $287,001 Housing Units Per Site To Do Business based on 2020 data 15.6013 Acres DEVELOPMENT OPPORTUNITY | ROCKWALL, TEXAS | 2 15.6013 ACRES | ROCKWALL, TEXAS INVESTMENT HIGHLIGHTS Excellent Location: The approximately 15.6 acre site (“Site”) is strategically 4-lane urban divided roadway with allowance for another expansion to 6-lanes. located 1.5 miles south of Interstate 30 (“I-30”) off of State Highway 205 (“SH 205”) The Rockwall County Planning Consortium Report states that they will begin to (South Goliad Street) across from Springer Elementary in the rapidly growing City receive bids for the SH 205 expansion in November 2022. In addition to the SH 205 of Rockwall, which is located in Rockwall County, TX. Rockwall is ideally positioned expansion, John King Blvd. will be undergoing an extension from SH 205 further along the I-30 corridor, only 20.4 miles from the Dallas Central Business District, south to Horizon Rd., creating a major intersection 0.2 miles south of the Site which which has continued to see a tremendous volume of development in recent years should in-turn drive higher traffic counts in front of the Site. with numerous retailers/eateries, including Costco, Walmart, The Home Depot, Target, Gloria's Latin Cuisine, On The Border Mexican Grill & Cantina, Saltgrass Growing Dallas/Fort Worth Economy: The Dallas/Fort Worth metro continues to Steak House, Sushi Box, The Oar House, and more. The Site is surrounded by be one of the strongest in the nation, experiencing exponential growth both in terms both established and new upper-end residential neighborhoods with homes ranging of population and jobs. According to the U.S. Census Bureau, the DFW metro from $230,000 to $399,000. The Site is also adjacent to the Rockwall Indoor Sports was the fastest-growing metro in the United States in 2019 adding over 117,000 Expo, a 100,000 square-foot facility for athletic and recreational activities, and is residents and added 126,000 jobs year over year as of February 2020. Current approximately 1.3 miles south of the planned Rockwall College and Career Academy population for DFW is estimated at 7.5 million people which ranks fourth in the located along John King Boulevard that was opened in the Fall of 2018 and serves nation and is projected to grow over 33% by 2030 to a population of nearly 10 800 students per class period and 5600 duplicate students. million. Zoning: The Site currently has dual zoning with the majority of the Site zoned “AG - Agricultural District” and a portion at the intersection of Rise Road and SH 205 zoned “C - Commercial District” with a future planned land use of “Commercial/Retail” per the 2017 City of Rockwall Future Land Use comprehensive plan. The Commercial District zoning allows for the development of most commercial uses such as retail, office, medical, hotel, restaurants, as well as other uses. The Agriculture District zoning allows for single family dwellings on no more than ten acres and no less than one acre. A full list of permitted uses can be found in the City of Rockwall Unified Development Code in the Code of Ordinances Article 4 Section 1.1, as well as in our online data vault. The City of Rockwall indicated that they are open to modifying the existing zoning for the right development plan; the site lends itself to a variety of uses due to excellent demographics, proximity to I-30, and abundant linear frontage along SH 205. Rise Road Population, Demographics, & Traffic Counts: Traffic counts along SH 205 are close to 14,947 per day. Average household income in Rockwall is $111,413 while 15.6013 Acres the median home values top $256,061 within a 3-mile radius of the Site. From 2010 Lofland Circle to 2019 Rockwall population grew 20.5 percent to a total population of 47,436 and is projected to grow an additional 12.51 percent by 2024 to reach a population of 53,370. Highway Expansion: The SH 205-Phase III expansion is a $135 million construction Hwy 205 / Goliad Street project that will widen the road just north of the Site to US 80 from a 2-lane to a DEVELOPMENT OPPORTUNITY | ROCKWALL, TEXAS | 3 15.6013 ACRES | ROCKWALL, TEXAS Utley Middle School Lakeside Baylor Emergency Honda Cars Chevrolet Lake Ray Hubbard Medical Center of Rockwall Southwest Kia Rockwall Ford Clay Cooley Hyundai of Rockwall Toyota of Rockwall Fenton Nissan of Rockwall Jones MEADOWCREEK ESTATES Elementary Home Prices up to $275k School Plaza at Rockwall HICKORY RIDGE Rockwall Home Prices up College and to $275k Career Academy Rockwall Fire Station #4 John King Blvd Mims Road Springer Elementary School 205 Business Park Hwy 205 / Goliad Street Rise Road Rockwall Indoor 15.6013 Acres Sports Expo Lofland Circle N DEVELOPMENT OPPORTUNITY | ROCKWALL, TEXAS | 4 15.6013 ACRES | ROCKWALL, TEXAS DEVELOPMENT OPPORTUNITY | ROCKWALL, TEXAS | 5 15.6013 ACRES | ROCKWALL, TEXAS AREA OVERVIEW Conveniently located along Interstate 30, Rockwall has experienced significant population growth over the past several years as the Dallas/ Lake Ray Hubbard Fort Worth Metroplex continues to experience rapid expansion. Rockwall is located approximately 30 minutes northeast of Downtown Dallas and is ideally situated along the east side of Lake Ray Hubbard. Despite its close proximity to Dallas Rockwall maintains a charming and relaxed atmosphere, complete with friendly communities and highly-rated schools. Residents enjoy a number of local attractions and events that include the following: Lake Ray Hubbard – Spanning 22,000 acres, Lake Ray Hubbard is one of the largest lakes in the DFW metro. The lake is a well-known destination for fishing, water skiing, and boating. There are also several parks and beaches around the perimeter, perfect for hiking, biking, or other outdoor activities. The Harbor Rockwall – This premier mixed-use development features numerous boutique shops, restaurants, and Class A offices, in addition to a splash pad, fountains and docks to park boats while enjoying dinner. This highly-visible development can be seen when crossing over Lake Ray Hubbard on I-30. A glamorous Hilton hotel and a Cinemark Theater can also be found nearby. Rockwall Indoor Sports Expo – The 100,000-square-foot facility located along Highway 205 adjacent to the Site provides facilities for a variety of The Harbor athletic and recreational activities, including playing fields and courts, a tiered viewing area for spectators and a food court. The facility caters to leagues and tournaments, special events, and open play for children and adults. Rockwall City Hall The City of Rockwall has an estimated population of 47,436 as of 2019, having grown 25.8 percent since 2010 and 125 percent since 2000. The median household income within the City of Rockwall is $96,663, and new home prices within close proximity of the Site range from $230k to $399k. Rockwall County has a population of 104,229 as of 2019, a 24.8 percent increase since 2010, making it one of the fastest growing counties in the state. DEVELOPMENT OPPORTUNITY | ROCKWALL, TEXAS | 6 15.6013 ACRES | ROCKWALL, TEXAS DFW HIGHLIGHTS • The DFW area has a well-diversified economy that ranks fourth in the nation with an estimated 2019 Gross Metropolitan Product (GMP) of $613.4 billion. GROSS METROPOLITAN DFW UNEMPLOYMENT DFW ESTIMATED PRODUCT RATE POPULATION • The DFW unemployment rate is an outstanding 4.4 percent as of March $613.4 Billion 4.4% 7.5 Million 2020. Dallas • The DFW metro has an estimated population of 7.5 million people which ranks fourth in the nation among metro areas and is projected to grow to a population of nearly 10 million by 2030. • Twenty-four Fortune 500 companies are headquartered in DFW, ranking third most in the nation.
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