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2825 Hancock Dr
Austin, TX 78731
Lantern Lane Center · Retail Property For Sale
Investment Highlights
- One of a kind opportunity in the North Central submarket to acquire almost 1.5 acres in one of the most highly sought-after zip codes, 78731
Executive Summary
Colliers of Austin is pleased to offer 2825 Hancock Drive for sale for the first time in over five decades. The site spans 1.47 acres (64,033 SF) of relatively flat land, nestled at the intersection of the highly sought-after neighborhoods of Highland Park West, Allendale, and Rosedale. The site improvements include 19,707 SF (TCAD) of retail and office space separated into 13 suites, currently occupied by 4 tenants who make up ~32.95% of the building footprint. The site provides tenants with over 70 parking spaces, easily accessible through two curb cuts on Hancock Dr.
The property’s current structure and strategic location make it an ideal opportunity for repositioning or redevelopment, promising substantial returns for visionary stakeholders. Hancock Drive. The site boasts over 295 feet of frontage along Hancock Drive, providing excellent visibility and monument signage for tenants seeking maximum exposure. The site stands alone as the largest single tract of commercial land of this kind currently available in the North Central Submarket.
The property’s current structure and strategic location make it an ideal opportunity for repositioning or redevelopment, promising substantial returns for visionary stakeholders. Hancock Drive. The site boasts over 295 feet of frontage along Hancock Drive, providing excellent visibility and monument signage for tenants seeking maximum exposure. The site stands alone as the largest single tract of commercial land of this kind currently available in the North Central Submarket.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
19,707 SF
Building Class
C
Year Built/Renovated
1967/1978
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.31
Lot Size
1.47 AC
Zoning
LO
Parking
70 Spaces (3.55 Spaces per 1,000 SF Leased)
Frontage
295’ on Hancock Drive
Amenities
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 124367 | Improvements Assessment | $350,005 CAD |
| Land Assessment | $2,493,204 CAD | Total Assessment | $2,843,209 CAD |
Property Taxes
Parcel Number
124367
Land Assessment
$2,493,204 CAD
Improvements Assessment
$350,005 CAD
Total Assessment
$2,843,209 CAD
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