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North Midland Land for Development: Mockingbird at North Garfield

Acreage

14

Price

$1.00

State

Texas

Contact Information

Interested in this listing? Contact the seller for more information:

Whit Hughes 650-255-2575 Email Seller

Property Details

Raw land for development on desirable growing north side of Midland for sale by owner. The north side of Midland benefits from upscale demographics, and is anchored by two private golf courses, Midland Country Club and Green Tree Country Club. The site has rarely available multi-use zoning, both commercial and residential, and is ideally situated to offer the creative developer a unique live-work-play development opportunity.

Generally referred to as NW corner of Mockingbird Lane & North Garfield Street. Identified by marker on aerial photo. No street address by post office. City of Midland Property ID: R000207206. As per city of Midland info: Acres 14.618, SEC: 9 SE/4, SURV: H P HILLIARD, BLK: X. Lot size to be verified. Mostly level land.

Paved street frontage approx. 690 linear feet on Mockingbird Lane, with nearby utilites. Front side of parcel on Mockingbird Lane appears to be zoned PDSC, and occupies approx. 9 acres, potentially supporting wide array of diverse commercial uses. The remainder of property on the back side appears to be zoned SF1, or residential.

A PD, Planned Development District may be used to permit new or innovative concepts in land utilization or diversification that could not be achieved under conventional zoning approaches. Any combination of residential, commercial, light industrial, public or recreational uses as approved by the City Council may be permitted.

With pro-growth local business climate, the Midland market has one of the tightest apartment and office occupancy rates in Texas. The north side of Mockingbird Lane has become increasingly open to suburban development. Highest and best use in current market conditions might potentially be change of use to more dense residential multi-family apartments, office, mixed-use, or other new use as permitted by the city. Other uses that already appear supported by submarket on north side of Mockingbird Lane: multi-family apartments (16 units per acre or 300 units), office, school, church, assisted living / senior care facility (95 beds), equestrian, recreational / sports.

Property is not priced, call to discuss. Buyer should be capable of performing own research on property with city planning department regarding buyer’s proposed use and structuring offer accordingly. No guarantee from seller regarding any aspect of the property or suitability for buyer’s proposed use. Buyers should be prepared to demonstrate history of successfully completed development projects with presentation of their written purchase offer (purchase contract or letter of intent format). Seller will consider escrow period extensions to provide such qualified buyers with sufficient time frames to receive approvals from the city before close of sale. Buyer agents are encouraged to secure their commission fee from their buyer client.

Investment Highlights

 

Link: Rent Survey: Midland Top Rental Market.

Link: Official Website: City of Midland Planning Dept.

Link: Video: Midland Development Corp.


Location