Marcus & Millichap is pleased to present the opportunity to acquire the property located at 301 West 2nd Street in Taylor, Texas. The subject property consists of approximately 22,284 square feet of warehouse space and is situated on 0.77 acres of land. The single-tenant asset features three suites, two grade-level doors, and metal construction. With proximity to U.S. Route 79, the property sits 36 miles northeast of Downtown Austin in the heart of Taylor. Due to the condition of the vacant property, this sale is ideal for storage or redevelopment opportunities.
The subject property is located in the midsized Georgetown submarket containing 17.6 million square feet of industrial space. In 2024, industrial demand in Georgetown set a record high with nearly 2.2 million square feet of space absorbed on net. While demand outpaced the 1.9 million square feet of new supply, the vacancy rate sat at 18.9 percent (down 3.9 percentage points on the year) due to the historical level of speculative deliveries that hit the submarket in the previous year. Among comparable properties up to 50,000 square feet, the vacancy rate climbed to a 10-year high at 10.8 percent thanks to the record supply of speculative small industrial properties but demand remained solid. The high level of availability across Georgetown helped to push rent growth into negative territory for the first time since 2010 as the average asking rent declined by -0.8 percent to about $11.90 per square foot. With 2.5 million square feet of industrial space under construction (representing 14.3 percent of inventory) at the start of 2025, supply will continue to impact Georgetown’s vacancies and rents in the near term. While located just outside of Georgetown’s boundary, Samsung’s 2.8 million-square-foot semiconductor plant under construction in Taylor, just south of downtown, is poised to have a big economic impact on the subject submarket (CoStar).
With a population of over 2.47 million residents, the population of Metro Austin has grown significantly in recent decades along with economic growth. Known as the home of South by Southwest, the Austin-Round Rock metro covers about 4,225 square miles and consists of five counties in central Texas: Travis, Williamson, Hays, Caldwell, and Bastrop. Austin’s population of nearly 980,000 people makes Travis the most populous county in the metro. Employment gains in the tech sector have contributed significantly to the metro’s recent population and median household income growth. Tesla’s newly constructed Gigafactory is expected to generate at least 5,000 jobs, supporting future relocations and increased demand for housing. The government is a significant driver in the local economy as Austin is the state capital and home to an IRS regional processing center as well as military bases. Located within a border state, the metro benefits significantly from international trade agreements with Mexico.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2025 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0160286)
