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    523 24Th St Galveston, TX 77550

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    For Sale
    $875,000

    Historically significant mixed-use building with income potential in downtown Galveston.

    Lot size:
    0.12 Acres

    Property Features for 523 24Th St

    General Information

    Lot size
    0.12 Acres

    Building Details

    Year built
    1865

    Source: Coldwell Banker TGRE Agent Brian Schwenk

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

    Overview

    Historic Galveston Carriage Place

    The Galveston Carriage Place, situated at 523 24th Street in downtown Galveston, is a historically significant building constructed in 1865. Originally, it served as both the business premises and residence of Frederick D. Schmidt, a blacksmith, horseshoer, and carriage manufacturer. Schmidt operated his business on the ground floor and resided upstairs, retaining ownership until 1944. Today, the building presents a unique live-work opportunity for buyers, with the potential for rental income. The property includes 4 fully occupied spacious units, ranging in size from approximately 992 to 3,475 square feet. Several tenants are interested in remaining, providing immediate income for a new owner. Each unit is separately metered for electric, while water and trash services are included in the rent. The property is located steps away from numerous restaurants, shops, bars, and attractions.
    Insight Report Location Intelligence

    Current Use by Public Records

    GalvestonCruises.com Cruise Agency Galveston.com Corporate Campus La Moda Salon ... Day Spa

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Galveston
    County
    Galveston
    State
    Texas
    Longitude
    -94.7946025
    Latitude
    29.3036031

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    FAQs

    What type of property is this?
    Live-work space - Historically significant mixed-use building with income potential in downtown Galveston.
    Where is this live-work space located?
    The property is located at 523 24Th St Galveston, TX.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: - Historically significant building (circa 1865) in downtown Galveston.; - Unique live-work opportunity with potential for rental income.; - Currently 4 fully occupied units, providing immediate income.
    (845) 519-0118
    Request Owner's contact information
    523 24Th St Galveston, TX 77550
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    Galveston, TX 77550
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    Realmo Value Estimation

    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.

    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.

    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
    523 24Th St Galveston, TX 77550
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