193 Acres in Poteet, TX - $3,500,000

This property is a prime development opportunity located about five miles southwest of San Antonio, near Somerset, Texas, with a Poteet address. Its partially entitled and has already received water and electrical approval letters, and the county is ready to sign off. All thats left is to cover the remaining water, impact, and engineering fees to make it shovel-ready, totaling $1.3 million, with $700,000 allocated for water meters at $4,000 each.

The subdivision consists of 176 lots, mostly around 30,000 square feet. The areas potential retail value is over $16 million for a developer looking to sell the lots, or around $29 million for those planning to build homes or mobile homes. The neighboring development has homes priced from $450,000 to $1 million, making this property a lucrative opportunity for a mobile home park developer or a specialty home builder.

Were offering flexible financing options with $2.5 million down and a $2 million carry at 10% interest. Were open to reasonable offers and eager to make a deal happen.

All properties require cash or a private/hard money loan in order to purchase - no conventional or FHA financing available at this time. All inspections must be completed prior to buyer signing the contract. All properties are sold as-is, where is. Buyer must complete all due diligence before submitting an offer and executing any contract. Buyers will need to provide a $5,000 non-refundable deposit at time of contract.