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Leander Transitional Land with Residences

14410 Hero Way W, Leander, TX 78641

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For Sale

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2.94 acres with two residences in Leander, Texas.

Type:Land, Mixed Use

Property size:

2,599 SF

Lot size:

2.94 Acres

Price / SF:

$404/SF

HighLights

Two residences included: a 2,599 sq ft home built in 1998 with 4 bedrooms and 2 baths, plus a 2,388 sq ft home dating from 1925.
+/- 2.94 acre property in the City of Leander.
Located in an area designated as "Multi‑Use Corridor - Priority Corridor" in Leander's Future Land Use Map, suggesting potential for rezoning and mixed‑use development.
Opportunity for rental income from both homes to offset holding costs.
Potential for live‑work arrangement or small business use.
Two tracts included in the sale: 2.29 acres with the main residence and 0.64 acres with the second home.

We can help!

Listing Contact

Heather Morrison

For Sale

Contact for pricing

2.94 acres with two residences in Leander, Texas.

Type:Land, Mixed Use

Property size:

2,599 SF

Lot size:

2.94 Acres

Price / SF:

$404/SF

Added:: Sep 17, 2024
Days on Market:: 642
Last Refresh:: May 12 at 9:22 pm

Property Features for 14410 Hero Way W

General Information

Standard status: Active
Size: 2,599 SF
Lot size: 2.94 Acres
Property subtype: Land, Mixed Use

We can help!

Listing Contact

Heather Morrison

Listing agent Heather Morrison License #TX 590194

Listing office KW Commercial

Listing date Sep 17, 2024

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial

HighLights

Two residences included: a 2,599 sq ft home built in 1998 with 4 bedrooms and 2 baths, plus a 2,388 sq ft home dating from 1925.
+/- 2.94 acre property in the City of Leander.
Located in an area designated as "Multi‑Use Corridor - Priority Corridor" in Leander's Future Land Use Map, suggesting potential for rezoning and mixed‑use development.
Opportunity for rental income from both homes to offset holding costs.
Potential for live‑work arrangement or small business use.
Two tracts included in the sale: 2.29 acres with the main residence and 0.64 acres with the second home.

Overview

Located in the City of Leander, this property features approximately 2.94 acres of transitional land with two residences. The sale includes two tracts. The main residence, built in 1998, is situated on 2.29 acres and offers 2,599 square feet of living space, including 4 bedrooms, 2 baths, and a garage. The second tract, located at 14380 Hero Way W, encompasses 0.64 acres and includes a 2,388 square foot home dating back to 1925, presenting an opportunity for updates. Currently zoned SFR, these lots are identified in Leander’s Future Land Use Map as being in the “Multi-Use Corridor - Priority Corridor”. According to the Leander 2020 Comprehensive Plan, this corridor is intended for mixed-use areas, such as commercial retail, office, personal service uses, and restaurants, including drive-throughs. Stand-alone individual parcels or larger retail centers may be appropriate. Near highway intersections and adjacent to Employment Mixed Use/Activity Centers, hotels, grocery stores and similar regional uses may also be suitable. Rezoning would be required for a change of use. Potential uses include renting the homes, establishing a small business, creating a live-work space, or holding for long-term appreciation.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$109.2k	$42.00
− Vacancy	−$26.5k	−$10.21
EGI	$82.6k	$31.79
− OpEx	−$20.7k	−$7.95
NOI	$62.0k	$23.85

2,599 SF · lease $42.00/SF/yr · vacancy 24.30% · expense 25.00%

Alternative Uses

Best Use

Office B

$885.3K

$774.7K – $1.03M (±1% cap)

NOI $61,974 @ 7.0% cap · market cap 5.90%

Second Best

Mixed Use

$501.2K

$438.6K – $584.8K (±1% cap)

NOI $35,087 @ 7.0% cap · market cap 3.34%

Theoretical Best

Office A

$1.09M

$950.6K – $1.27M (±1% cap)

NOI $76,051 @ 7.0% cap · market cap 7.24%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Commercial land

Suggested Use

Location Insight

Map
Local Demand

City: Leander
County: Travis
State: Texas
Longitude: -97.9086868
Latitude: 30.5737022

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For sale
Commercial land
TX
Leander
78641
14410 Hero Way W

What type of property is this?

Commercial land - 2.94 acres with two residences in Leander, Texas.

Where is this commercial land located?

The property is located at 14410 Hero Way W Leander, TX.

What is the asking price?

The asking price for this property is $1,050,000.

What are key features of this property?

This property features: Two residences included: a **2,599 sq ft home built in 1998 with 4 bedrooms and 2 baths**, plus a 2,388 sq ft home dating from 1925.; +/- 2.94 acre property in the City of Leander.; Located in an area designated as "Multi‑Use Corridor - Priority Corridor" in Leander's Future Land Use Map, suggesting potential for rezoning and mixed‑use development.