Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1028 Avenue K, Unit 2 Galveston, TX 77550

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,450 /Mo ($16 SF/Yr)

    Two-bedroom townhome near the seawall and UTMB, includes appliances and Wi-Fi.

    Property size:
    1,036 SF
    Lot size:
    0.06 Acres

    Property Features for 1028 Avenue K

    General Information

    Size
    1,036 SF
    Lot size
    0.06 Acres

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Savannah Byerly
    Source: Kw

    Listing Agent: Savannah Byerly

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Beachside Townhome with Included Amenities

    This well-maintained townhome features 2 bedrooms and offers a blend of comfort and style. The property is located blocks from the seawall and UTMB. The residence features an open-concept living and dining area filled with natural light. A private patio is also included. The property size is 1,036 square feet. Appliances and Wi-Fi are included, as is lawn care.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Galveston
    County
    Galveston
    State
    Texas
    Longitude
    -94.777818
    Latitude
    29.3030101

    Nearby Similar for Lease

    • $1,550 /Mo
      902 SF

      Partially Furnished Apartment Near UTMB

      Two-bedroom apartment with paid utilities, near UTMB, available for lease.
      7112 N Holiday Dr, Galveston, TX 77550
      View Details
    • $2,275 /Mo

      Spacious Apartment with Sunset Views

      Two-bedroom apartment featuring harbor views and architectural details.
      100 20Th St, Galveston, TX 77550
      View Details
    • $1,900 /Mo

      Renovated Three-Bedroom Unit Near UTMB

      Recently renovated 3-bedroom unit in central Galveston location.
      3515 Winnie St, Galveston, TX 77550
      View Details
    • Contact for pricing
      209,152 SF

      Galveston Island Retail Opportunity

      Prime Retail Space, Galveston Island
      61st St. & Central City Blvd, Galveston, TX 77551
      View Details
    • $21 SF/Yr
      5,040 SF

      Galveston Retail Space For Lease

      Prime Location, Versatile Space, High Traffic
      527 Moody Ave, Galveston, TX 77550
      View Details
    • $12 SF/Yr
      76,986 SF

      Broadway Shopping Center: Galveston Retail

      Prime Galveston retail space, high traffic area.
      5900-5940 Broadway Ave, Galveston, TX 77551
      View Details
    • $1,675 /Mo
      1,126 SF

      Peanut Butter Warehouse Loft Apartment

      Loft apartment near The Strand, UTMB, and Galveston's entertainment.
      100 20Th St, Galveston, TX 77550
      View Details
    • $18 SF/Yr
      5,500 SF

      Galveston Office Building For Lease

      Two-story office building with excellent access and visibility.
      6501 Stewart Rd, Galveston, TX 77551
      View Details
    • Contact for pricing
      75,064 SF

      Galveston Church Street Office Space

      7,000+ sqft, versatile office/event space
      3316 Church St, Galveston, TX 77550
      View Details
    • $1,295 /Mo

      Galveston Townhome Near UTMB

      Two-story townhome near UTMB with modern amenities and private patio.
      525 11Th St, Galveston, TX 77550
      View Details
    • $1,725 /Mo

      Galveston Apartment Near UTMB

      Two-bedroom apartment on The Strand, available immediately.
      2315 Strand St, Galveston, TX 77550
      View Details
    • $1,350 /Mo

      Residential Unit Near UTMB

      One-bedroom unit close to UTMB, entertainment, and restaurants.
      2315 Strand St, Galveston, TX 77550
      View Details

    FAQs

    What type of property is this?
    Triplex - Two-bedroom townhome near the seawall and UTMB, includes appliances and Wi-Fi.
    Where is this triplex located?
    The property is located at 1028 Avenue K, Unit 2 Galveston, TX.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: - Prime location: Only blocks from the seawall and UTMB.; - Included amenities: Appliances, Wi-Fi, and lawn care are included.; - Two-bedroom townhome: Offers comfortable living space.
    Request Owner's contact information
    1028 Avenue K, Unit 2 Galveston, TX 77550
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1028 Avenue K, Unit 2
    Galveston, TX 77550
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1028 Avenue K, Unit 2 Galveston, TX 77550
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Savannah Byerly
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.