Frank's Collision Repair Auto
For Sale
Contact for pricing
2627 Palmer Highway, Texas City, TX 77590
Leased collision repair facility with more than four years remaining on its initial lease term.
Property Size18,388 SF
Price / SF$144.12
Days on Market105
Property Features for 2627 Palmer Highway
General Information
Standard status
Active
Size
18,388 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$192,000
Building Details
Year Built
1975
Tenancy
Single
Listing Agency:
Sands Investment Group
Listed By:
Max Freedman · License #TX 644481
Source:
Crexi
Added: Jul 2
Changed: Oct 3
Last Checked: Oct 12 at 5:19PM
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 Sands Investment Group
Investment Insights
Based on property information with market context.
Frank's Collision Repair is an 18,388-square-foot auto shop at 2627 Palmer Highway in Texas City, Texas. Constructed in 1975, the property is occupied by a collision repair operation and is being offered for sale.
The initial lease term has 4+ years remaining, with 2% annual rent increases. Lease obligations are supported by a corporate guarantee from OpenRoad Collision, providing defined contractual terms for an investor evaluating the asset.
The initial lease term has 4+ years remaining, with 2% annual rent increases. Lease obligations are supported by a corporate guarantee from OpenRoad Collision, providing defined contractual terms for an investor evaluating the asset.
Key Highlights
- 18,388 SF collision repair facility at 2627 Palmer Highway, Texas City, TX 77590
- 4+ years remaining on the initial lease term
- 2% annual rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,591
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,871,820
$1.9M
Cap Rate 7%
$1,337,014
$1.3M
Cap Rate 9%
$1,039,900
$1.0M
Market Conditions
NOI Build-Up for 18,388 SF
Gross rent
$142.7K $7.76/SF
− Vacancy
−$9.0K −$0.49/SF
EGI
$133.7K $7.27/SF
− OpEx
−$40.1K −$2.18/SF
NOI
$93.6K $5.09/SF
Area
Galveston County, TX
Vacancy
6.30%
Lease Rate
$7.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,871,820
Cap Rate 7%
$1,337,014
Cap Rate 9%
$1,039,900
Alternative Uses
Best Use
Retail
$3.54M
$3.10M – $4.13M
NOI $247,614 @ 7.0% cap · market cap 9.34%
Second Best
Industrial
$1.34M
$1.17M – $1.56M
NOI $93,591 @ 7.0% cap · market cap 3.53%
Theoretical Best
Multifamily LT 5
$206.16M
$180.39M – $240.52M
NOI $14,430,969 @ 7.0% cap · market cap 544.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
120k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 82%
Shops & Services 17%
Electronics 1%
Whataburger
Dining
24,286 visits/mo
0.2 miles
Jack in the Box
Dining
14,643 visits/mo
0.5 miles
Wendy's
Dining
11,489 visits/mo
0.2 miles
Burger King
Dining
9,537 visits/mo
0.1 miles
Hartz Chicken Buffet
Dining
8,406 visits/mo
0.1 miles
Demographics for 77590, TX
30,758
Population
14,419
Households
2.1
Avg Household Size
38
Median Age
16%
College-Educated
84%
High-School Grad
25.2 sq mi
ZIP Area
1,221
Density / Sq Mi
$63,274
Median Household Income
$36,993
Median Earnings
$1,179
Median Rent
$168,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Joe's Car Stop Too, Inc — 1818 Texas Ave, Texas City, TX 77590
- J & H Property maintenance and handyman — 2802 3rd Ave N, Texas City, TX 77590
- Advantage Kar Kare — 814 N Logan St, Texas City, TX 77590
- Jiffy Lube — 3314 Palmer Hwy, Texas City, TX 77590
- RAW Wheels & Tires — 3321 Palmer Hwy, Texas City, TX 77590
Frequently Asked Questions
What type of property is this?
Auto shop - Leased collision repair facility with more than four years remaining on its initial lease term.
Where is this auto shop located?
The property is located at 2627 Palmer Highway Texas City, TX.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 18,388 SF collision repair facility at 2627 Palmer Highway, Texas City, TX 77590; 4+ years remaining on the initial lease term; 2% annual rent increases
