Refurbished Waller Building with Expansion
2302 Main St Waller, TX
For Sale
Contact for pricing
Multi-purpose property in downtown Waller with immediate cash flow.
Property Size11,250 SF
Lot Size0.15 Acres
Price / SF$202.22
Days on Market1046
Property Features for 2302 Main St
General Information
- Standard status
- Active
- Size
- 11,250 SF
- Lot size
- 0.15 Acres
- Property subtype
- RETAIL
Listing Agency:
Waller County Land Company
(281) 723-9656
Listed By:
Timothy J. Phelan · License #0315435
(281) 723-9656
Source:
Moodyscre
Added: Sep 12, 2023
Changed: Jul 6
Last Checked: Jul 21 at 5:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Waller County Land Company
Investment Insights
Based on property information with market context.
Located in downtown Waller near City Hall and City Park, this multi-purpose property features an 11,250-square-foot building constructed in 1935 and recently refurbished. The building is currently occupied by three tenants: a gym, a hair salon, and a gutter company, with 3,800 square feet available. In addition to the building, the property includes 12,426 square feet of land for future development or expansion. The location provides convenient access to Highway 290, the Grand Parkway, FM 2920, and FM 362, facilitating access to the greater Houston area. The property offers immediate cash flow and room for business operations, making it suitable for both investors and business owners. Waller is experiencing growth and attracting commercial and residential developments.
Key Highlights
- Immediate cash flow from existing tenants (Gym, Hair Salon, and Gutter Company) occupying a majority of the 11,250 SF building.
- Significant potential for future development/expansion with 12,426 SF of additional land.
- Prime location in downtown Waller, near City Hall and City Park, benefiting from high visibility and community activity.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $202.5k | $18.00 |
| − Vacancy | −$11.5k | −$1.03 |
| EGI | $191.0k | $16.97 |
| − OpEx | −$57.3k | −$5.09 |
| NOI | $133.7k | $11.88 |
11,250 SF · lease $18.00/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.91M
$1.67M – $2.23M
NOI $133,670 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.07M
$2.69M – $3.58M
NOI $215,028 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bold Fitness
Gym & Fitness Center
FAQs
What type of property is this?
Retail space - Multi-purpose property in downtown Waller with immediate cash flow.
Where is this retail space located?
The property is located at 2302 Main St Waller, TX.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: Immediate cash flow from existing tenants (Gym, Hair Salon, and Gutter Company) occupying a majority of the 11,250 SF building.; Significant potential for future development/expansion with 12,426 SF of additional land.; Prime location in downtown Waller, near City Hall and City Park, benefiting from high visibility and community activity.
