3002 Garth Rd Baytown, TX 77521
- Retail properties
- 4,800 SF
- 0.57 lot acres
Current Use by Public Records
- Colonial House of Sandwiches / Sandwich Shop / Deli
Property Details for 3002 Garth Rd
- Year built
- 1970
- Lot size
- 0.57 lot acres
- Property size
- 4,800 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional retail investment opportunity presents a 4,800-square-foot, single-story building situated on a 0.57-acre lot in Baytown, Texas. The property, built in 1970 and renovated in 2019, boasts a prime location at 3002 Garth Rd, a hard corner with multiple access points, offering excellent visibility and accessibility. Currently 100% occupied by four tenants, including ACE Cash Express and Colonial House of Sandwich, under triple-net (NNN) leases, ensuring expense reimbursement. The property generates a strong net operating income (NOI) of $104,028, resulting in an attractive 8.01% capitalization rate. The asking price is $1,299,000, translating to $270.62 per square foot. An existing loan with a 5.875% interest rate is assumable, offering significant potential savings. The property benefits from its proximity to major employers like ExxonMobil Refinery, Chevron Phillips Chemical Company, and others, serving a thriving community in a strong regional trade area. The property's location near North Highway 146 further enhances its accessibility and appeal. This value-add opportunity presents a compelling investment prospect with significant upside potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Baytown
- County
- Harris
- State
- Texas
- Longitude
- -94.9772
- Latitude
- 29.7527
