Mixed-Use Property with
New
For Sale
$735,000
1801 Avenue L, Galveston, TX 77550
An upstairs residence sits above commercial space, with a connected warehouse and a rear green area.
Property Size2,500 SF
Days on Market2
Property Features for 1801 Avenue L
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Investment
Building Details
Building Size
2,500 SF
Year Built
1950
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
RE/MAX Signature
Listed By:
Clay Conrad · License #553888
(832) 247-1311
Source:
Elliman
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:24AM
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 RE/MAX Signature
Investment Insights
Based on property information with market context.
Renovation work refreshed this mixed-use building, which combines a second-floor 3/2 residence with ground-level commercial space. The residence has an open kitchen and living area, hardwood floors, tiled bathrooms, abundant windows, and a patio. The commercial unit includes a tall-ceiling entry room, updated lighting, paint, AC, and a bathroom. A warehouse with concrete floors and a roll-up door connects to the building, and a small green space is set behind it.
The property is at 1801 Avenue L in Galveston, between the beach and port. Parking is available on site.
The property is at 1801 Avenue L in Galveston, between the beach and port. Parking is available on site.
Key Highlights
- Second‑floor residence configured as a 3/2
- Connected warehouse has concrete floors and a roll‑up door
- Ground‑floor commercial unit includes AC and a bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,004
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,080
$640.1K
Cap Rate 7%
$457,200
$457.2K
Cap Rate 9%
$355,600
$355.6K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$57.9K $23.16/SF
− Vacancy
−$15.2K −$6.09/SF
EGI
$42.7K $17.07/SF
− OpEx
−$10.7K −$4.27/SF
NOI
$32.0K $12.80/SF
Area
Galveston County, TX
Vacancy
26.30%
Lease Rate
$23.16 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,080
Cap Rate 7%
$457,200
Cap Rate 9%
$355,600
Alternative Uses
Best Use
Office B
$457.2K
$400.1K – $533.4K
NOI $32,004 @ 7.0% cap · market cap 4.35%
Second Best
Mixed Use
$353.6K
$309.4K – $412.5K
NOI $24,750 @ 7.0% cap · market cap 3.37%
Theoretical Best
Multifamily LT 5
$28.03M
$24.53M – $32.70M
NOI $1,962,009 @ 7.0% cap · market cap 266.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,834
Businesses Nearby
Explore this area
Business Placement
Demographics for 77550, TX
24,247
Population
15,811
Households
1.5
Avg Household Size
41
Median Age
33%
College-Educated
87%
High-School Grad
7.6 sq mi
ZIP Area
3,190
Density / Sq Mi
$46,262
Median Household Income
$35,800
Median Earnings
$1,182
Median Rent
$283,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - An upstairs residence sits above commercial space, with a connected warehouse and a rear green area.
Where is this mixed-use property located?
The property is located at 1801 Avenue L Galveston, TX.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Second‑floor residence configured as a 3/2; Connected warehouse has concrete floors and a roll‑up door; Ground‑floor commercial unit includes AC and a bathroom
