2008 E William Cannon DR Austin, TX 78744 New

UPDATED: 10/20/2026 05:47 PM ON MARKET: 4 days on market

$3,250,000

11.63 Acres

Key Details

Property Type Vacant Land

Sub Type Multiple Lots (Adjacent)

Listing Status Active

Purchase Type For Sale

Subdivision Eighty One William Cannon Join

MLS Listing ID 1385355

Annual Tax Amount $29,054

Tax Year 2026

Lot Size 11.630 Acres

Acres 11.63

Property Sub-Type Multiple Lots (Adjacent)

Source actris

Property Description

This 11.63-acre suburban infill development opportunity is strategically positioned along E. William Cannon Drive, approximately 2,000 feet east of Interstate 35 in the high-growth South Austin submarket. The offering consists of two contiguous parcels: 2008 E. William Cannon Drive (6.79 gross acres) and 1814 Nelms Drive (4.88 gross acres), providing a rare dual-access configuration that combines commercial arterial visibility with quiet residential ingress and egress via the Nelms Drive cul-de-sac. Comprehensive civil engineering feasibility and site planning completed by MIGL Engineering demonstrate an optimized 8.86-acre net developable footprint designed specifically for Class A multifamily density. Utilizing an MF-4 rezoning framework, draft site concepts establish a high-yield potential ranging from 171 to 215 residential units across 300,000 to 381,000 square feet of gross floor area. The engineered layouts accommodate building heights up to 58 feet while integrating flexible double-podium, tuck-under, and surface parking structures. The site is substantially de-risked by existing utility connectivity, featuring a 10-inch ductile iron wastewater main on-site and 12-inch water mains along both street frontages. Furthermore, the tract leverages an existing regional water quality and detention facility serving the drainage basin, saving millions in upfront site work. Capitalizing on the City of Austin's elimination of municipal minimum parking requirements, a buyer can maximize buildable density and capital efficiency in one of Austin's most accessible multifamily corridors.

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Data last updated: 10/23/2026 23:46