For Sale VACANT RETAIL CBD BUILDING | AUSTIN, TX | 6TH & NECHES 2
Table of Contents
3 Investment Highlights 4 Property Profile 5 Site Survey 6 Interior Photos 9 Location Overview 11 Austin Quick Facts 12 Contact Information
2 E 6TH STREET + NECHES STREET 510 NECHES STREET Investment Highlights
User-Buyer Opportunity
Historic Designation
Iconic “6th Street” Location
Fully-Operational Restaurant Space
Walkable Retail Space
512 NECHES STREET
Tourist Destination
3 E 6TH STREET + NECHES STREET Property Profile
Property Summary UNIT TENANT NRA % OF PROPERTY LOCATION: 423 E. 6th Street & 510-512 Neches Street 423 E. 6th Street Retail 1,334 SF 31% Austin, Texas 78701 Loft / Storage 663 SF 15% GROSS LEASABLE AREA: 4,399 SF (3 Units) 512 Neches Street Retail 559 SF 13% RESTAURANT CAPACITY: 47 Seats
510 Neches Street Restaurant 1,793 SF 41% OCCUPANCY: Vacant
TOTAL: 4,399 SF 100% DEDICATED PARKING: None
TRAFFIC COUNTS (VPD): E. 6th Street: 11,656 VPD
4 E 6TH STREET + NECHES STREET Site Survey
5 E 6TH STREET + NECHES STREET Chez Nous
6 E 6TH STREET + NECHES STREET The Smoking Catepillar
7 E 6TH STREET + NECHES STREET Aaron’s Rock & Roll
8 E 6TH STREET + NECHES STREET Shoal Cree San acinto Boulevar Cl e Littlefiel Drive est Martin Luther Kin r Boulevar Manor Roa
est L nn Street
Enfiel Roa
Trinit Street
est 12th Street Par a Location Map East Martin Luther Kin r ComalBoulevar Street
Shoal Cree Boulevar
Con ress Avenue
est 12th Street est 11th Street
San acinto Boulevar
East 12th Street
Navasota Street East 12th Street
est 6th Street East 11th Street est 5th Street A
North Interstate Hi h a 35 Service Roa
est 8th Street
est 7th Street East 8th Street Re River Street East 11th Street
Heron Cree East 7th Street Rose oo Avenue E 6th Street + Neches Street An elina Street
Barton Cree
Colora o River East 6th Street
East 5th Street
Colora o Street
est Riversi e Drive
La Bir La e
East 6th Street
aller Street
Trinit Street
East Riversi e Drive
est Boul in Cree
Interstate Hi h a 35 Service Roa North East 2n Street Da son Roa
9 E 6TH STREET + NECHES STREET 6th Street Entertainment District Location Highlights
Sixth Street is one of the most iconic streets in Austin. It’s the epicenter of what made Austin the “Live Music Capital of the World.”
Sixth Street is a historic street and entertainment district in Austin, Texas, located within the city’s urban core in downtown Austin. Sixth Street was formerly named Pecan Street under Austin’s older naming convention, which had east–west streets named after trees and north–south streets named after Texas rivers (the latter convention remains in place).
The nine-block area of East Sixth Street roughly between Lavaca Street to the west and Interstate 35 to the east is recognized as the Sixth Street Historic District and was listed in the National Register of Historic Places on December 30, 1975.Developed as one of Austin’s trade and commercial districts in the late 1800s, the predominant building style are two- or three-story masonry Victorian commercial architecture. Most structures in the area had already been built by the 1880s, though a few notable exceptions include the Driskill Hotel (1886), the Scarbrough Building (1910), and the Littlefield Building.
The area around nearby 4th Street and 6th Street has been a major entertainment district since the 1970s. Many bars, clubs, music venues, and shopping destinations are located on East 6th Street between Congress Avenue and Interstate 35, and many offer live music at one time or another during the week. Traffic is generally blocked on East 6th Street and most crossroads from I-35 to Brazos Street on weekend evenings, and football home games (depending on pedestrian traffic), as well as holidays and special events, to allow the crowds to walk unfettered to the many venues that line the street.
East Sixth Street (known locally as Dirty Sixth) plays host to a wide variety of events each year, ranging from music and film festivals (such as South by Southwest) to biker rallies (such as The Republic of Texas Biker Rally) and the Pecan Street Festival. Pecan Street Festival
DEMOGRAPHICS 1 Mile 3 Mile 5 Mile 6th Street Live Music 2000 Census 16,368 132,931 284,694 2010 Census 14,991 132,802 297,154 2019 Estimate 16,691 149,288 341,358 2024 Projection 17,824 158,924 365,774 Projected Population Growth (2019 to 2024) 1.32% 1.26% 1.39% Daytime Population 11,534 109,931 254,398 Bachelors Degree or Higher 32% 28% 32% Average Hosehold Income $94,260 $90,509 $95,512 Median Home Value: $352,797 $358,932 $366,485 Average Age 37 33 32 10 E 6TH STREET + NECHES STREET Austin Quick Facts
Business You will find a business-friendly environment with low taxes and numerous incentives that encourage continued Climate growth and investment in Austin.
Austin’s labor pool is among the most vibrant, innovative Cost Of Living Index Cost of Living Index, 2019 (U.S.=100) Talent and educated in the world.
Population Labor Force & Growth
The Austin regional labor force is 1 million
Population 152 residents Projected of the Austin added daily regional Region population by Highest median 2.15 Million 2040 is 3.9 Million household income among Texas metro areas
Demographics
Austin is the 43% of adults have at least a 66.3% population is bachelor’s degree compared to under 45 (nationally, 58.7% 11th 3.5% 31% nationally is under 45) largest city in the country YOY job growth
11 E 6TH STREET + NECHES STREET Contact Information
BROKERAGE TEAM
Graham Schmergel Vice President +1 512 861 3423 [email protected]
1703 W 5th Street, Suite 850 | Austin, Texas 78703
us.jll.com/retail
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Any opinion or estimate of value of any asset in this presentation is based upon the high-level preliminary review by JLL. It is not the same as the opinion of value in an appraisal developed by a licensed appraiser under the Uniform Standards of Professional Appraisal Practice. JLL expressly disclaims any liability for any reliance on any opinion or estimate of value in this presentation by any party.
12 E 6TH STREET + NECHES STREET