Government Office Building For
1504 E MULBERRY ST Angleton, TX 77515
For Sale
Contact for pricing
Office building leased to the State of Texas available for purchase.
Property Size11,156 SF
Price / SF$191.47
Days on Market74
Property Features for 1504 E MULBERRY ST
General Information
- Standard status
- Active
- Size
- 11,156 SF
- Property subtype
- Office
Building Details
- Year Built
- 1998
Listing Agency:
Northmarq - Houston
(832) 368-0374
Listed By:
Brian Corriston · License #TX 516241
Source:
Crexi
Added: May 12
Changed: Jul 10
Last Checked: Jul 22 at 1:20PM
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 Northmarq - Houston
Investment Insights
Based on property information with market context.
Available for sale is a government office building leased to the State of Texas. The State of Texas has an investment-grade credit rating of AAA by Standard & Poor's and Aaa by Moody's. The property contains 11156 square feet and is located in Angleton, Texas.
Key Highlights
- Leased to the State of Texas.
- Investment‑grade credit rating of AAA by Standard & Poor's.
- Investment‑grade credit rating of Aaa by Moody's.
Financial Insights For Office B
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 | $330.7k | $29.64 |
| − Vacancy | −$82.3k | −$7.38 |
| EGI | $248.3k | $22.26 |
| − OpEx | −$62.1k | −$5.56 |
| NOI | $186.2k | $16.69 |
11,156 SF · lease $29.64/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.66M
$2.33M – $3.10M
NOI $186,246 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$138.98M
$121.60M – $162.14M
NOI $9,728,355 @ 7.0% cap · market cap 455.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Brazoria County Child ...
Social Service Agency
FAQs
What type of property is this?
Office building - Office building leased to the State of Texas available for purchase.
Where is this office building located?
The property is located at 1504 E MULBERRY ST Angleton, TX.
What is the asking price?
The asking price for this property is $2,136,000.
What are key features of this property?
This property features: Leased to the State of Texas.; Investment‑grade credit rating of AAA by Standard & Poor's.; Investment‑grade credit rating of Aaa by Moody's.
