Posted on 10/06/2019
Partnership Dissolution - Rare Large AC Tract on Galveston Island
P&T Bay Properties LLC is disolving their partnership and this single asset company must sell the property immediately!
• Approx. 92.005 AC’s or 14,007,737.80 SF of land
• Location is the West End of Galveston Island off of Termini-San Luis Pass Road and Terramar Dr.
• Zoning: Planned Development
• Topography: Grade level
o Electricity: Available
o Water/Sewer: Available
o Gas: Available
• Flood Hazard: V Zone
• The Property is adjacent to residential on the east and south boundaries of the property.
• There is approx. 1,000 LF along the canal on the eastern boundary of the property.
• There is approx. 1,400 LF of waterfront on Galveston Bay
• Unobstructed views of Galveston Bay on the north and west boundary lines
• The west boundary of the Property is owned by Galveston County which is currently a bird sanctuary
• Seller estimates that approximately 60 ACs of the land are available for development
• According to statements from the Corps of Engineers, approx.. 28 ACs can be developed if the same amount of land is converted into wetlands by planting a specific species of grass, 1:1.
• Approx. 17 miles from 61st St and the Seawall to the Property.
• Market Area: Galveston is a coastal resort city and port off of the southeast coast on Galveston Island and Pelican Island. The community of 209.2 square miles, with a population of 50,550 (2010 Census) is the county seat of surrounding Galveston County and second largest municipality in the county. It is also within the Houston Metropolitan area at its southern end on the northwestern coast of the Gulf of Mexico.
• Much of Galveston’s economy is centered in the tourism, health care, shipping and financial industries. The 84 Acre University of Texas Medical Branch campus with an enrollment of more than 2,500 students is a major economic force of the city. Galveston is home to six historic districts containing one of the largest and historically significant collections of 19th century buildings in the U.S. with over sixty structures listed on the National Register of Historic Places.
• The tourism industry creates one billion dollars in economic activity each year from over 7 Million visitors
• Galveston Island attractions include:
o The Strand National Historic District;
o Moody Gardens Aquarium Pyramid, Rainforest Pyramid & Discovery Pyramid;
o Schlitterbahn Waterpark;
o Pleasure Pier;
o Texas Seaport Museum;
o Railroad Museum;
o Lone Star Flight Museum;
o Ocean Star Offshore Drilling Rig Museum;
o The Grand 1894 Opera House;
• Galveston is home to Texas A&M University Galveston & The University of Texas Medical Branch
Tranzon Asset Advisors Texas LLC TX Broker #9008058, Kelly D. Toney, TX Auctioneer #11818
10% Buyer's Premium and other terms apply
Property #: TAA1936
Auction Date & Time: Bidding ends November 19th
at 2:00pm CT
Preview Date & Time:
Drive by anytime
Galveston, TX 77552
Contact Kelly Toney at 888-791-7307 ext. 88 or email@example.com