$1 Auction – 10 AC Beachfront Parcel on Galveston Island

Investment Highlights

• RARE OPPORTUNITY TO ACQUIRE HIGHLY DESIREABLE BEACHFRONT LAND | ±10 Acres at the West End of Galveston Island with Direct Beach Access and Amazing Views of the Gulf of Mexico
• BEACHFRONT DEVELOPMENT AMENITY | ±737’ of Frontage Along Gulf of Mexico 
• RESIDENTIAL ZONING | Flexible R-1 Zoning with Permitted Uses including Single Family Residential and Short-Term Rental Residential Dwelling 
• SURGING HOME AND VACATION RENTAL DEMAND | Median Galveston Home Listing Price $459K
• STRONG DEMOGRAPHICS | 12.89% Population Growth Anticipated 2022-27 and Annual Household Income of ±$101,230 (5-Mile Radius)

 

Offering Summary

Marcus & Millichap and RI Marketplace are proud to present a ±10-acre parcel adjacent to 25002 Intrepid Lane on Galveston Island (“the Property”) in Galveston, Texas. This rare opportunity is being offering in an Absolute $1 Auction – First Bid Meets Reserve. 
 
The Property consists of a single parcel split into two noncontiguous tracts on the south side of San Luis Pass Road with over 737 feet of frontage along the Gulf of Mexico. The Property is in close proximity to several vacation rentals, resorts and other Galveston attractions. Current zoning for both tracts is R-1 which is intended to provide for single-family detached dwellings. This is a rare value-add opportunity for an investor to acquire beachfront land as the demand for residential investment properties surges nationwide.
 
Galveston is a coastal resort city and port off the Southwest Texas coast approximately 70 miles south of Houston. Much of the Galveston’s economy is based on tourism, health care, shipping, and financial industries. As of 2022, the Property’s demographics have ±1,156 individuals residing within a 5-mile radius, with an average household income of ±$101,230. The Property is located within a high growth area with population growth of 100.35% from 2010-2022 and an anticipated 12.89% growth expected from 2022-2027 within five miles of the Property.