A MixedUse Real Estate Property for Sale in McAllen, TX

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PalmRidge Park

• A Mixed-Use Real Estate Property for Sale in
  McAllen, TX

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(No Transcript)
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Overview

• The property comprising PalmRidge Park has been
  master planned and deed restricted to protect the
  long-term value of the real estate. The deed
  restrictions are recorded in the Hidalgo County
  Court Records and are available for review. The
  deed restrictions include architectural,
  landscaping, cross parking and access and general
  guidelines for the on-going park development.
  Currently, 11 acres are zoned C-3 (heavy
  commercial) with the remaining commercial zoned
  but not subdivided.

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In the Neighborhood

• Medical
• McAllen Heart Hospital
• Adjoining the development
• Rio Grande Regional Hospital
• UHS McAllen Medical Hospital
• South Texas Cancer Center
• Veterans Nursing Home
• In the park
• Residential
• Surrounded by highest household income in south
  Texas
• New single-family subdivisions
• Commercial
• Las Tiendas
• McAllen Pavillion
• Sams Club Walmart
• New HEB
• Ridge Crossing Shopping Center available for
  purchase

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In the Park

• Medical
• McAllen Heart Hospital
• Adjoining the development
• Veterans Nursing Home
• In the park
• Residential
• Approximately 39 acres zoned for R-1 and R-2
• Commercial
• 11 acres C-3 zoning
• 27 acres C-3L zoning
• Ridge Crossing Shopping Center

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Demographic Radius
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Demographic Information
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Palm Ridge Park
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Zoning for Available Land

• The zoning map of the land areas to the right of
  this paragraph reflect the overall size and scope
  of the property. The original property was a
  farm owned by the family. Since the 1980s, Rio
  Grande Regional Hospital, McAllen Pavillion
  Retail Center, the Heart Hospital, Camelot
  Retirement Center and Frost Bank were built on
  land orginally owned and then sold to these
  entities. These developments have solidified the
  value of the area and have established market
  value for the properties.

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Future extension of McColl Rd. to access Military
Hwy. And bridges to Mexico
New roadway extension
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Office Park Site

• Office Development Site

The site adjoining the retail center on the west
has been planned as a future office park
development with cross access and parking with
the surrounding properties. This location is
ideal for Heart Hospital doctors and ancillary
facilities. The planned office grouping utilizes
approximately 60,000 sf of commercial land. The
master planned design will be included in the
proposed purchase of the property. Asking price
for the land is 650,000.
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Commercial Land

• The 4 plus acre site located at the intersection
  of McColl Rd., Wichita Ave. and D Street is
  zoned C-3 (high density commercial uses). The
  site is ideally suited for mid-rise condominium
  or mid-rise office. Asking price is 14.00 psf.

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Hotel Development Site
This site is zoned C-3 (commercial) and has been
designated ideal for a hotel use. The C-3 zoning
allows for maximum density of use, including
hotel, office, retail or other high density
commercial use. Sale price is 13.00 psf.
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Residential Land Sites

• The residential land components of the planned
  development include approximately 28 acres east
  of McColl and the balance of 5 acres west of
  McColl. The R-2 zoning is for townhouse/two
  level condominium, zero lot line homes with the
  R-1 zoning for single family residential only.
  The average price per acre in the immediate area
  is 100,000 or developed 4.00 psf.

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Ridge Crossing
A 32,000 sf neighborhood retail center available
for sale. Phase II is complete as of May 1st,
2008 and is 50 pre-leased. The 4 remaining
spaces are in negotiation for lease and the pad
site is under a letter of intent.
5,500,000
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Ridge Crossing Tenant List
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17,000,000excluding Ridge Crossing Shopping
Center

• Contact
• Katherine Zeigler
• Tele 956-453-5211
• Email kzeigler_at_zeiglerco.com

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PalmRidge Park

• McAllen, TX