486.05 acre development available in Texas. Seller will Consider Owner Financing.

[MARINA WEAHUNT]

486.05 acre development available in Texas. Development LLC is the owner of this Rio Vista Commercial Development located in Rio Grande City, Starr County, Texas. The property consists of Phase 1 - 79.60 acres and Phase 2 - 406.45 acres, totaling 486.05 acres through which runs approximately 2 miles of Rio Vista Blvd. Rio Vista Blvd is a 100 foot wide right of way; Phase 1 - 9.66 acres and Phase 2 - 11.78 acres which totals 21.44 acres already dedicated to the city.

Currently, the city has no master zoning laws and any type of use can be built subject to city approval (i.e. a business selling alcohol has to be 1000 feet from a school, etc.).

El Tanque water district has completed installing a water main the full length of Rio Vista Blvd. A new high school is breaking ground 1 mile north of our mixed use property on F.M. 755.

Estimated Capital Investment Thus Far
Land purchased $420,000
Improvements $694,500
Current Estimated Value: $186,000.00 per acre
Total Current Value: $89,652,000.00
Land donations to; School Board, City, Church, Battered Women's Facility totaling approximately 20 acres valued at $3,640,000
Total personal capital invested $4,754,500.00

482 Acre Mixed Use Texas Development for Sale "$75,000,000.00" Or BEST OFFER
Sellers Are Extremely Motivated To Sell & Will Consider Owner Financing.
Price, Terms & Conditions are negotiable

Marina Weahunt
714-606-6100
[e-mail]