Refurbished Waller Building with Expansion Potential

2302 Main St, Waller, TX 77484

View on Map

For Sale

Contact for pricing

11,250 SF building in downtown Waller with additional land.

Type:Retail

Property size:

11,250 SF

Lot size:

0.29 Acres

Price / SF:

$202/SF

We can help!

Contact for Pricing

Please call us for current price
and status of this listing

Timothy Phelan

Real Estate License ID: TX

HighLights

Prime downtown Waller location near City Hall and City Park.
Significant growth area with booming commercial and residential developments.
Immediate cash flow from existing tenants (gym and hair salon) with 2/3 of the building leased.
12,426 SF of additional land for future development or expansion.
3,800 SF of flexible space available for lease.
Excellent access to major highways (Hwy 290, Grand Parkway, FM 2920, FM 362).

For Sale

Contact for pricing

11,250 SF building in downtown Waller with additional land.

Type:Retail

Property size:

11,250 SF

Lot size:

0.29 Acres

Price / SF:

$202/SF

Added:: May 7, 2024
Days on Market:: 791
Last Refresh:: Jul 5 at 8:56 am

Property Features for 2302 Main St

General Information

Standard status: Active
Size: 11,250 SF
Lot size: 0.29 Acres
Property subtype: Retail

We can help!

Contact an agent

Timothy Phelan

Listing office Waller County Land Company

Listing date May 7, 2024

Source Crexi

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 Waller County Land Company

HighLights

Prime downtown Waller location near City Hall and City Park.
Significant growth area with booming commercial and residential developments.
Immediate cash flow from existing tenants (gym and hair salon) with 2/3 of the building leased.
12,426 SF of additional land for future development or expansion.
3,800 SF of flexible space available for lease.
Excellent access to major highways (Hwy 290, Grand Parkway, FM 2920, FM 362).

Overview

Located in downtown Waller, near City Hall and the City Park, this multi-purpose property features an 11,250 square-foot building constructed in 1935 and recently refurbished. The property is situated in a high-growth area experiencing commercial and residential development. The building is currently two-thirds leased, with a gym and a hair salon as established tenants. Approximately 3,800 square feet remains available on the north end of the building, suitable for various uses. In addition to the building, the property includes approximately 12,426 square feet of land, offering room for future development or expansion. The location provides access to Highway 290, the Grand Parkway, FM 2920, and FM 362, facilitating access to the greater Houston area. This property is suited for investors seeking immediate cash flow with expansion opportunities.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$202.5k	$18.00
− Vacancy	−$11.5k	−$1.03
EGI	$191.0k	$16.97
− OpEx	−$57.3k	−$5.09
NOI	$133.7k	$11.88

11,250 SF · lease $18.00/SF/yr · vacancy 5.70% · expense 30.00%

Alternative Uses

Best Use

Retail

$1.91M

$1.67M – $2.23M (±1% cap)

NOI $133,670 @ 7.0% cap · market cap 5.88%

Second Best

—

no second resolved use

Theoretical Best

Office A

$3.07M

$2.69M – $3.58M (±1% cap)

NOI $215,028 @ 7.0% cap · market cap 9.45%

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

Property Profile Location Intelligence

Current Use by Public Records

Bold Fitness Gym & Fitness Center

Suggested Use

Location Insight

Map
Local Demand

City: Waller
County: Harris
State: Texas
Longitude: -95.922997
Latitude: 30.056999

Nearby Similar for Sale

$1,650,000

2,720 SF

Luxury Ranch Estate with Stables

Unrestricted 28-acre ranch estate with stables near Houston.

1560 Bowler Road, Waller, TX 77484

View Details
$599,990

2,446 SF

Waller Acreage with Equestrian Amenities

5.2-acre Waller property with horse barn, arena, and home.

34303 Brumlow Road, Waller, TX 77484

View Details
$829,900

3,316 SF

Waller County Estate with Barn

9.2-acre Waller County estate featuring a five-stall barn.

31928 Reids Prairie Rd, Waller, TX 77484

View Details
$825,000

3,012 SF

Farmhouse on 10 Acres

Farmhouse on 10 acres with stocked lake and pier.

28335 Riley Road, Waller, TX 77484

View Details
$829,900

3,316 SF

Waller County Country Estate

9.2-acre estate with a two-story home and equestrian facilities.

31928 Reids Prairie Road, Waller, TX 77484

View Details
$820,000

2,495 SF

Country Property with Versatile Improvements

Well-maintained country property on approximately 5 acres with multiple barns.

19989 Meadow Bend Road, Waller, TX 77484

View Details
$1,400,000

10,000 SF

10,000 SF Industrial Warehouse

10,000 SF warehouse with expansion yard and drive-thru capability.

19268 Kickapoo Rd, Waller, TX

View Details
$960,882

Unrestricted Acreage on FM 362

24.638 acres, unrestricted, fenced, with ponds and arena.

24594 Fm 362 Rd, Waller, TX 77484

View Details
$829,900

Waller County Country Estate

9.2-acre estate with a two-story home and equestrian facilities.

31928 Reids Prairie Rd, Waller, TX 77484

View Details
$3,500,000

Ag-Exempt Acres with Barndo

40-acre ag-exempt property with barndo, ready for agricultural use.

15610 Penick Rd, Waller, TX 77484

View Details
$1,499,000

2,491 SF

Texas Ranch with Stocked Pond

15-acre ranch featuring a pond, pool, and versatile outbuildings.

31229 Rochen Road, Waller, Waller, TX 77484

View Details
$3,036,000

1,586 SF

55.2 Acre Waller County Farm

Operating vegetable farm with lakes, utilities, and development potential.

14136 Penick Road, Waller, TX 77484

View Details

What type of property is this?

Retail property - 11,250 SF building in downtown Waller with additional land.

Where is this retail property located?

The property is located at 2302 Main St Waller, TX.

What is the asking price?

The asking price for this property is $2,275,000.

What are key features of this property?

This property features: Prime downtown Waller location near City Hall and City Park.; Significant growth area with booming commercial and residential developments.; Immediate cash flow from existing tenants (gym and hair salon) with 2/3 of the building leased.