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Online Real Estate Auction
Online Bidding ends Tuesday, November 19, 2019 @ 3:00pm
P&T Bay Properties LLC is dissolving their partnership and this single asset company must sell the property immediately!
Property Number: TAA1936
Property Location: 0 Terramar, Galveston, TX 77552
This is one of the last large tracts of undeveloped acreage on Galveston Island. The property location provides for seclusion, privacy and unobstructed, open-water views of Galveston Bay. You can step off the peninsula direclty into the water. Access to the Gulf of Mexio beaches is just walking distance from the property. The possibilities for development range from creating your own private compound to building high-end residential homes, building condominiums, or a combination of both with or without private boat docks. With the scarcity of land on the island, it can also simply be a long term hold for investment.
The property on the west boundary line is a bird sanctuary owned by the county and stretches the length of the property adding additional unobstructed views of the bay. The county may be open to offering a road easement on its property in exchange for bird watching stations and other improvements.
There have been discussions with the Corps of Engineers (COE) about their interest in building a canal through the property that would also improve the ecological environment for the Terramar Subdivision. It would open the dead-end canal on the neighboring property to allow water to circulate. This would have the ancillary benefit of adding more waterfront access for the property. The discussion included granted the COE an easement to build a canal along the southern boundary line of the property, which will tie into the bay area on the west and the canal on the east. By doing so, this would in essence create an island out of the subject property.
HUGE ISLAND INVESTMENT OR RESIDENTIAL DEVELOPMENT OPPORTUNITY!
Kelly Toney, CAI
Tranzon Asset Advisors
713-816-1123
ktoney@tranzon.com
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Disclaimer: Currency shown is based on currency conversion, please refer to actual currency price of the property.
