Building Details

Building Size 9,696 SF

Year Built 1920

Stories 2

Listed By: Brian Kuhn · License #0615150 Show Phone

Source: Elliman

Added: Apr 12 Changed: Oct 14 Last Checked: Oct 12 at 8:05PM

Report an Issue

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 Brian Kuhn

Investment Insights

Based on property information with market context.

Located at 2127 Broadway, this restored historic building offers a prime opportunity in a high-visibility location. The property features original arched windows and preserved architectural details. The ground floor provides 4,848 square feet of open, flexible space suitable for a showroom, retail business, or creative commercial use, and includes two private offices and a bathroom. The upper level is framed for six one-bedroom units, presenting an opportunity for residential income, condo conversion, or alternative uses. Original wood floors and shiplap walls are in excellent condition. The upper level could be transformed into climate-controlled storage with the addition of a freight elevator. A condo conversion could be attractive, with the potential of 3–4 off-street parking spaces on the ground level. The property has a bike score of 74, indicating it is very bikeable, and a walk score of 80, indicating it is very walkable.

Key Highlights

• Prime, high‑visibility location on Broadway.
• 4,848 sq ft of flexible ground‑floor space suitable for commercial use.
• Framed for six one‑bedroom units upstairs, offering residential income potential.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,995

Cap Rate

4.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$959,900 $959.9K

Cap Rate 7%

$685,643 $685.6K

Cap Rate 9%

$533,278 $533.3K

Market Conditions

NOI Build-Up for 4,848 SF

Gross rent

$87.3K $18.00/SF

− Vacancy

−$10.5K −$2.16/SF

EGI

$76.8K $15.84/SF

− OpEx

−$28.8K −$5.94/SF

NOI

$48.0K $9.90/SF

Area

Galveston County, TX

Vacancy

12.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$959,900

Cap Rate 7%

$685,643

Cap Rate 9%

$533,278

Alternative Uses

Best Use

Mixed Use

$685.6K

$599.9K – $799.9K (±1% cap)

NOI $47,995 @ 7.0% cap · market cap 4.82%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$54.35M

$47.56M – $63.41M (±1% cap)

NOI $3,804,728 @ 7.0% cap · market cap 382.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Mixed-use properties

Suggested Use

Top Pick Auto Parts Store Pharmacy Carpet & Flooring Store (Bike/Boat/Book/etc) Store Locksmith Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,255

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Property With Storefronts

1915 45th Street, Galveston, TX 77550

$999,900

11,520 SF

View details

Creative Space with Chapel Architecture

4720 Avenue O 1/2, Galveston, TX 77551

$1,100,000

7,664 SF

View details

Three-Story Mixed-Use Building

2415 Market Street, Galveston, TX 77550

$1,350,000

6,798 SF

View details

Mixed-Use Property with Gym

2115 Broadway St, Galveston, TX 77550

$1,249,000

4,915 SF

View details

Mixed-Use Building with Apartments

515 22nd Street, Galveston, TX 77550

Contact for pricing

5,940 SF

View details

Income-Producing Multifamily Property in Galveston

5103 Avenue O, Galveston, TX 77551

$1,000,000

0.16 Acres

View details

Multifamily Condo Portfolio

3506 Cove View Boulevard, Galveston, TX 77554

$1,105,000

5,175 SF

View details

Galveston Multifamily Near Seawall

3102 Avenue R, Galveston, TX 77550

$900,000

4,871 SF

View details

9-Unit Multifamily Property

3705 Winnie, Galveston, TX 77550

$750,000

5,588 SF

View details

Boutique 8-Unit Multifamily Property

1811 21st St, Galveston, TX 77550

$1,149,000

4,715 SF

View details

Charming 7-Unit Apartment Building

1322 Avenue L, Galveston, TX 77550

$949,000

3,780 SF

View details

Furnished Duplex Near Adoue Park

1105 Ball, Galveston, TX 77550

$1,000,000

3,200 SF

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - Restored historic building with retail space and residential potential.

Where is this mixed-use property located?

The property is located at 2127 Broadway St Galveston, TX.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Prime, high‑visibility location on Broadway.; 4,848 sq ft of flexible ground‑floor space suitable for commercial use.; Framed for six one‑bedroom units upstairs, offering residential income potential.