216 Main St Leander, TX 78641
This exceptional 20.4-acre site in Leander, Texas (APN R510026), presents a unique opportunity for multifamily development. Located at 216 Main St, 78641, this property boasts preliminary approval for a 244-unit project encompassing 188 townhomes and 52 condominiums. The site benefits from existing utilities, simplifying the development process and minimizing upfront costs. Zoned T5 and T4, this land is ideally situated at a high-traffic intersection of Main Street and Ranch Rd 2243, surrounded by established commercial entities including HEB, St. David's Medical Center, and Austin Community College (San Gabriel Campus). The property's proximity to the anticipated Northline Project, a large mixed-use development, further enhances its investment potential. This prime location offers future residents convenient access to shopping, healthcare, and education within a thriving community experiencing strong housing demand. Prospective buyers are encouraged to conduct their own due diligence. This is a rare chance to build a high-quality residential community in a highly sought-after area of Leander, promising strong market appeal and long-term value. The property is classified as Land, Mixed Use, and Multifamily.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.